- Safety & Recalls
- Regulatory Updates
- Drug Coverage
- COPD
- Cardiovascular
- Obstetrics-Gynecology & Women's Health
- Ophthalmology
- Clinical Pharmacology
- Pediatrics
- Urology
- Pharmacy
- Idiopathic Pulmonary Fibrosis
- Diabetes and Endocrinology
- Allergy, Immunology, and ENT
- Musculoskeletal/Rheumatology
- Respiratory
- Psychiatry and Behavioral Health
- Dermatology
- Oncology
Pfizer makes huge multimillion-dollar Medicaid settlement
In one of the biggest drug pricing settlements in history, Pfizer is paying $784.6 million to settle claims alleging that the practices of its Wyeth subsidiary relating to the calculation of Medicaid rebates for Protonix (pantoprazole sodium) violated the Federal Civil False Claims Act and other laws.
In one of the biggest drug pricing settlements in history, Pfizer is paying $784.6 million to settle claims alleging that the practices of its Wyeth subsidiary relating to the calculation of Medicaid rebates for Protonix (pantoprazole sodium) violated the Federal Civil False Claims Act and other laws.
Related: US alleges Novartis paid kickbacks to specialty pharmacies
The Department of Justice had claimed that, between 2001 and 2006, Wyeth did not give state Medicaid programs the same discounts for its heartburn drug, Protonix, that it did for non-government customers.
In a similar settlement, AstraZeneca and Teva Pharmaceutical's Cephalon unit paid more than $50 million to settle allegations that they underpaid rebates owed to state Medicaid programs. The settlement stemmed from a lawsuit filed by a pharmacist and attorney, who claimed that the 2 pharmaceutical manufacturers intentionally lowered rebates they owed to Medicaid.
Related: High healthcare costs driven by spike in Rx costs
Meanwhile, the Pfizer settlement fully resolves pending legal cases in Federal District Court for the District of Massachusetts.
“We are pleased to have reached an agreement in principle to resolve these cases, which involve historic conduct that occurred at least 10 years ago, before Pfizer acquired Wyeth,” said Doug Lankler, Pfizer’s executive VP and general counsel. “The resolution of these cases reflects a desire by the company to put these cases behind us and to focus on the needs of patients.”
Read more: Hearing ups pressure on drugmakers' prices
FDA Approves Xolremdi for Ultra Rare Immune Disorder
April 29th 2024Xolremdi is the first therapy for WHIM syndrome, which can cause recurrent lung infections and papillomavirus-related warts. It’s available in two doses: 400 mg for an annual cost of $496,400 and 300 mg for an annual cost of $372,300.
FDA Approves Pfizer’s Gene Therapy Beqvez for Hemophilia
April 26th 2024Beqvez (fidanacogene elaparvovec) is priced at $3.5 million, which is on parity with Hemgenix, the first one-time therapy to treat adults with hemophilia B. Pfizer’s warranty will refund insurers and continue to provide coverage for patients if they change insurers.
