Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) and AbbVie unit Allergan Plc (NYSE:ABBV) could pay more than $5 billion in total to settle some 3,500 opioid lawsuits, according to Bloomberg. While the two companies are willing to settle the suits in the consolidated case, the deal has not been finalized. The consolidated case is titled In Re National…
Pfizer donates Russian profits to Ukraine
Pfizer (NYSE: PFE) announced that it would redirect all profits from its Russian subsidiary to relief efforts in Ukraine. Concluding that pausing shipments of medicines to Russia would be counter to its principles, Pfizer had already decided to offer humanitarian efforts to Ukraine. Pfizer also announced that it would refrain from launching new clinical trials…
How medtech and pharma are responding to Russia’s invasion of Ukraine
Medtech and pharma companies continue to support Ukraine relief efforts following Russia’s invasion. Previously, the World Health Organization announced that it was sending “essential medical supplies” to Ukraine — including its first shipment of 36 metric tons of supplies for trauma care and emergency surgery and other health supplies — to meet the needs of more than…
Purdue Pharma, Sacklers reach a new $6B opioid settlement deal
Purdue Pharma and the Sackler family will pay $6 billion to settle lawsuits with a host of states over their role in the opioid epidemic. Purdue Pharma and the Sackler family — the founders and owners of the company — will pay the $6 billion to victims, survivors and states as a result of their…
GSK names consumer health spinoff ‘Haleon’
GlaxoSmithKline plc (GSK) is moving forward with a planned demerger of its consumer healthcare segment, which it will call Haleon. The company notes that the name is a portmanteau of the old English word ‘hale’ and the name ‘Leon.’ The former means ‘healthy’ while the latter is a reference to strength. In the past eight…
Ember Technologies, Cardinal Health partner on self-refrigerated, cloud-based shipping box
Ember Technologies and Cardinal Health (NYSE:CAH) announced that they are partnering on the Ember Cube digital shipping box. The two companies will collaborate to offer what they are touting as the world’s first self-refrigerated, cloud-based shipping box, according to a news release. They will work together to deliver a cold chain solution designed to ensure product integrity and…
Cardinal Health profits take a big hit in Q2
Cardinal Health (NYSE:CAH) today reported mixed second quarter results and cut its EPS guidance as the company’s Medical segment continues to wrestle with inflation and supply chain problems. The Dublin, Ohio–based pharma and medtech giant reported profits of $49 million, or 17¢ per share, on sales of $45.5 million for the three months ended Dec.…
DHL invests $400M in its pharma and medtech supply chain
DHL Supply Chain announced today that it will invest upwards of $400 million to expand its pharmaceutical and medical device distribution network footprint. Westerville, Ohio-based DHL Supply Chain’s life sciences and healthcare (LSHC) sector will make the investment to expand the supply chain footprint by 27% this year, amounting to nearly 3 million additional square…
Cardinal Health to pay $13M to settle claims it paid kickbacks to doctors
The U.S. Department of Justice announced that Cardinal Health (NYSE:CAH) agreed to pay more than $13 million to resolve kickback allegations. Allegations against Dublin, Ohio-based Cardinal Health include a violation of the False Claims Act by paying “upfront discounts” to its physician practice customers in violation of the Anti-Kickback Statute. The Anti-Kickback Statute prevents pharmaceutical…
Johnson & Johnson reaches opioid settlement with Colorado and Nevada
Johnson & Johnson (NYSE:JNJ) has reached a settlement agreement with Colorado and Nevada to put opioid-related allegations there to bed. Colorado will receive $385 million from Johnson & Johnson and the drug distributors McKesson (NYSE:MCK), AmerisourceBergen (NYSE: ABC) and Cardinal Health (NYSE:CAH). Nevada will receive nearly $285.2 million as part of the overall settlement, which is earmarked…