Pfizer (NYSE:PFE) agreed to pay $345 million to settle claims of overpayments for EpiPens due to alleged anti-competitive and unfair practices. Reuters reported that a filing disclosed in federal court in Kansas City, Kan., revealed the settlement set to resolve claims from consumers who say they overpaid for EpiPens with the alleged anti-competitive and unfair practices by…
IMF approves $650B to help countries pay for COVID-19 vaccines
The executive board of the International Monetary Fund (IMF) today approved a $650 billion allocation for COVID-19 vaccines. IMF managing director Kristalina Georgieva issued a statement today confirming that the executive board concurred in her proposal for a new general Special Drawing Rights (SDR) allocation of $650 billion — the largest allocation in the IMF’s…
Danaher to acquire Aldevron for $9.6B
Danaher (NYSE:DHR) announced that it entered into a definitive agreement to acquire Aldevron for approximately $9.6 billion. Fargo, N.D.-based Aldevron, which employs approximately 600 people, manufactures high-quality plasmid DNA, mRNA and proteins to serve biotechnology and pharmaceutical customers across research, clinical and commercial applications. According to a news release, Aldevron will operate as a standalone…
White House to allocate 55M COVID-19 vaccine doses for global distribution
The Biden-Harris administration today announced a global distribution list for 55 million doses of America’s COVID-19 vaccine supply. Biden pledged to allocate 80 million doses of the COVID-19 vaccine supply belonging to the U.S. by the end of June to aid the global fight against the pandemic. Earlier this month, the administration announced the plan…
U.S. government buys 200M more doses of Moderna’s COVID-19 vaccine
Moderna (NSDQ:MRNA) announced today that the U.S. government purchased an additional 200 million doses of its COVID-19 vaccine. The government’s purchase agreement with Moderna also includes the option to purchase other COVID-19 vaccine candidates to come out of the company’s pipeline. Cambridge, Mass.-based Moderna said in a news release that the purchase brings the U.S.…
J&J must reportedly throw out 60M COVID-19 vaccine doses from Emergent plant
Another large amount of doses of Johnson & Johnson’s COVID-19 vaccine produced at an embattled manufacturing plant reportedly have to be thrown out. The New York Times reported that the FDA told J&J that about 60 million doses of the single-dose vaccine produced at Emergent BioSolutions’ Baltimore plant can’t be used because of possible contamination.…
U.S. to buy nearly 2 million courses of Merck’s COVID-19 antiviral treatment
Merck (NYSE:MRK) announced today that it agreed to supply the U.S. government with its molnupiravir (MK-4482) for treating COVID-19. Molnupiravir, developed through a collaboration between Merck and Ridgeback Biotherapeutics, is currently under evaluation in a Phase 3 clinical trial for the treatment of non-hospitalized patients with laboratory-confirmed COVID-19 infection and at least one risk factor…
Biden administration wants to boost funding for new pharma manufacturing processes
The Biden administration today released findings from 100-day supply chain assessments, determining the need to boost pharmaceutical manufacturing. According to a fact sheet, the administration plans to take immediate action to “address vulnerabilities and strengthen resilience” with its effort to take on near-term supply chain disruptions for four products: semiconductor manufacturing and advanced packaging; large…
U.K. authorizes J&J COVID-19 vaccine
The United Kingdom announced that it approved the single-dose COVID-19 vaccine developed by Johnson & Johnson’s Janssen Pharmaceutical business. The Medicines and Healthcare products Regulatory Agency (MHRA) granted the regulatory approval, making Janssen’s the fourth COVID-19 vaccine authorized by the independent regulator and the first to be approved as a single-dose option, according to a…
WHO: All countries should vaccinate at least 10% of their people against COVID-19 by September
World Health Organization (WHO) director-general Dr. Tedros Adhanom Ghebreyesus announced the organization’s aims for global COVID-19 vaccinations. During an address to the annual World Health Assembly today, Ghebreyesus called for all countries to have at least 10% of their populations vaccinated by September and at least 30% by the end of 2021. In low- and…