Detroit’s public employee unions will question Michigan Governor Rick Snyder under oath about his role in authorizing the city to file the biggest U.S. municipal bankruptcy after Snyder dropped his objections to being deposed.
Novartis AG’s Afinitor drug failed to win the backing of the U.K.’s health-cost regulator, which said clinical trial data failed to show that the medicine is worth the cost for use in treating breast cancer.
Roche Holding AG’s anti-tumor drug Avastin failed for the second time in two months to win the backing of the U.K.’s health-cost regulator as a treatment for ovarian cancer in a draft decision issued today.
Bristol-Myers Squibb Co. ’s Sprycel and Novartis AG ’s Tasigna are under review by the U.K. health-cost regulator for the treatment of a rare blood cancer because the benefits of the drugs may not justify their high prices.
Drugmakers are negotiating with the U.K. over changes to the pharmaceutical pricing system, which expires in 2014, as the government seeks to rein in the cost of the state-run National Health Service .
Pharmaceutical companies have dropped prices by as much as half to convince the body that advises the U.K. health system that their products help patients enough to justify the cost, the agency’s chairman said.