With a trio of transactions, GlaxoSmithKline Plc Chief Executive Officer Andrew Witty is expanding the U.K. pharmaceutical company’s positions in consumer products and vaccines, providing “durability” as the industry faces increased pricing pressure for medicines.
A flurry of billion-dollar deals announced today including a swap of cancer and vaccine drugs between Novartis AG and GlaxoSmithKline Plc will reshape the pharmaceutical industry as it looks to cut costs and may herald another round of mergers and acquisitions.
Express Scripts Holding Co., a pharmacy benefit manager that handles more than 1 billion prescriptions annually in the U.S., is ratcheting up its effort to force Gilead Sciences Inc. to cut the $84,000 price of its new hepatitis C pill Sovaldi.
California’s limit of $250,000 on medical malpractice damages for pain and suffering, which became a model for other states almost 40 years ago, could be increased under a voter initiative to be submitted today.
Greece wants to triple the share of generic drugs prescribed by the end of next year, closing the gap to targets set by international creditors under the terms of the country’s bailout, Health Minister Adonis Georgiades said.