NEW YORK (Reuters)—Pfizer Inc. said on Friday that it plans to hike U.S. prices on 41 of its medicines in January, after walking back its previous price increases this summer under pressure from President Donald Trump. The company said in a statement that the increases would be on around 10% of its drugs. Pfizer said…
Pfizer-Lilly Pain Drug Meets Late-Stage Trial Goals
(Reuters)—An experimental osteoarthritis drug developed by Pfizer Inc and Eli Lilly and Co achieved its main goal of lowering pain in a late stage trial, the companies said on Wednesday, potentially offering a safer alternative to opioids. Opioid abuse has reached epidemic proportions in the United States and drugmakers have been looking for less addictive…
FDA Clears Pfizer’s Xeljanz for Inflammatory Bowel Disease
(Reuters)—The U.S. Food and Drug Administration said on Wednesday that it had approved Pfizer Inc’s drug, Xeljanz, to treat adults with moderate-to-severe active ulcerative colitis. The effectiveness of Xeljanz (tofacitinib) in treating ulcerative colitis was shown in three controlled clinical trials, including two trials that showed the drug caused disease remission in about 17-18 percent…
Gap in Regulating Biotech Drug Copies Prompts WHO to Step In
LONDON (Reuters)—Cut-price copies of expensive biotech drugs promise to slash the cost of treating serious diseases, including cancer, in rich and poor countries alike -but uneven regulation has created a lopsided market. Now the World Health Organization (WHO) is stepping in to assess the quality of such so-called biosimilars, offering a global stamp of approval…
Pfizer’s Biosimilar of Roche’s Rituxan Succeeds in Study
(Reuters)—Pfizer Inc said on Wednesday its biosimilar of Roche’s Rituxan was as effective as the original drug in treating patients with a type of follicular lymphoma, meeting the main goal of a study. The success of Pfizer’s biosimilar comes as Rituxan’s U.S. patent is set to expire later this year. The drug had raked in…
Pfizer’s Second Biosimilar of J&J’s Remicade Wins U.S. FDA Approval
(Reuters)—The U.S. Food and Drug Administration approved Pfizer Inc’s second biosimilar to Johnson & Johnson’s blockbuster rheumatoid arthritis drug, Remicade, the company said on Wednesday. Pfizer’s Ixifi was approved for all eligible indications of Remicade, including the treatment of bowel disease Crohn’s disease and skin disorder plaque psoriasis, the drugmaker said. Biosimilars are medicines deemed…
Pfizer Files Suit Against J and J over Remicade Contracts
(Reuters)—Drugmaker Pfizer Inc on Wednesday filed a lawsuit against Johnson and Johnson, saying its rival’s contracts with health insurers for blockbuster rheumatoid arthritis drug, Remicade, were anticompetitive and blocked sales of Pfizer’s new biosimilar. Pfizer said in the suit that Johnson and Johnson is offering discounts on its Remicade treatment in exchange for essentially excluding…
Pfizer Hikes U.S. Prices of 91 Drugs by Average 20% in 2017
(Reuters)—Pfizer Inc. has hiked the price of nearly a hundred drugs by an average of 20 percent so far this year in the U.S., the Financial Times reported on Friday. The U.S. drug maker raised the list price of 91 medicines—including that of its erectile dysfunction treatment, Viagra, and its pain drug, Lyrica—on June 1…
Pfizer Announces Medicare Reimbursement for Inflectra (infliximab-dyyb), the First Biosimilar Monoclonal Antibody Available in the United States
On Jan. 6, Pfizer Inc. announced that the Centers for Medicare and Medicaid Services (CMS) has included payment information for INFLECTRA (infliximab-dyyb), a biosimilar to REMICADE (infliximab), in its January Average Selling Price (ASP) pricing file. This pricing took effect as of January 1, 2017. Additional claims processing information is listed in the MLN Matters…
Pfizer Unit to Pay $784.6 Million in Medicaid Rebate Settlement
(Reuters)—Pfizer Inc. said its Wyeth unit has agreed to pay $784.6 million to settle cases related to the calculation of Medicaid rebates for a gastric drug between 2001 and 2006. The claims alleged that Wyeth’s calculation of rebates for its proton pump inhibitor Protonix (pantoprazole) violated the Federal Civil False Claims Act and other laws…