Dow?
- Thread starter irvinehomeowner
- Start date
NEW -> Contingent Buyer Assistance Program
high risk, high reward
#ilikeit
More like high risk, high loss. Senate panel just launched a probe. Expect this to be a big issue in this election cycle. 50% of your cash position? There goes your Eastwood down payment.
Wed Nov 4, 2015 9:42am EST
U.S. Senate panel probing Valeant, Turing over drug costs
A U.S. Senate panel on Wednesday launched a bipartisan probe into pharmaceutical drug pricing, seeking documents from four drugmakers including Valeant Pharmaceuticals and Turing Pharmaceuticals, two companies embroiled in controversy over price hikes on lifesaving drugs.
The Senate's Special Committee on Aging also requested information from Retrophin Inc and Rodelis Therapeutics, according to a statement from the panel's Republican Chairwoman Susan Collins and Claire McCaskill, its top Democrat.
"The sudden, aggressive price hikes for a variety of drugs used widely for decades affect patients and health care providers and the overall cost of health care," Collins said, adding that her committee is probing the increases given the potential harm to patients.
McCaskill added: "We need to get to the bottom of why we?re seeing huge spikes in drug prices that seemingly have no relationship to research and development costs."
In a letter to Valeant Chief Executive Mike Pearson, the committee chairs wrote that it wanted more information on the increase in the price of sodium drug Nitropress used to treat high blood pressure by 625 percent to $1,346.62 per vial on the day Valeant acquired the drug. It also cited an 820 percent increase to $36,811 for 25 pills of heart drug Isuprel and an 2,949 percent increase to $26,189 for one hundred capsules of Cuprimine for rheumatoid arthritis.
The Aging committee's probe comes amid growing pressure on drugmakers over their pricing. Later on Wednesday, Democrats in the House of Representatives are scheduled to hold a news conference to discuss "meaningful action to combat the skyrocketing costs of pharmaceuticals."
The Senate committee also said it wanted to hear more about Turing's Daraprim, an anti-infective drug used to treat toxoplasmosis among other diseases. Earlier this year Turing raised the price on the drug overnight to $750 per pill from $13.50.
Democratic presidential candidate Hillary Clinton had singled out the move on the campaign trail as a sign of excess and the need for the government to clamp down on the sector. Turing has defended the move in the past and did not immediately comment on Wednesday's probe.
Valeant did not have an immediate comment. Its shares were slightly higher in pre-market trading at $98.99 compared with a close of $97.84 on the New York Stock Exchange. Retrophin shares were trading down pre-market at $19.50 from a close of $21.82 on Nasdaq.
Federal prosecutors in New York and Massachusetts are already probing drug pricing and patient assistance programs at Valeant, which is also under scrutiny over separate allegations that it used specialty pharmacies to pad its revenue.
The New York state attorney general's office is also investigating Turing over whether its price increases of Daraprim, an anti-parasitic drug used to treat patients with weak immune systems, broke violated antitrust rules.
Just checked it's around $94 and change
ps99472
New member
Didn't know they were in Irvine and owns B&L.
http://valeant.jobs/irvine/california/usa/jobs/
http://valeant.jobs/irvine/california/usa/jobs/
irvinehomeowner
Well-known member
Weren't they trying to buy Allergan?
ps99472
New member
Valeant drops Philidor. Should be fun to watch today. Here's the original Citron piece that started the whole crash:
http://www.citronresearch.com
http://www.citronresearch.com
ps9 said:Took the plunge and got in with VRX at $97 and change towards market close today. A big move for me, took about 50% of my cash position. Seems oversold with all the Citron/Philidor hoopla, which is hopefully over. Indominus Rex pharma, what's not to like?
high risk, high reward
#ilikeit
eyephone said:ps9 said:Took the plunge and got in with VRX at $97 and change towards market close today. A big move for me, took about 50% of my cash position. Seems oversold with all the Citron/Philidor hoopla, which is hopefully over. Indominus Rex pharma, what's not to like?
high risk, high reward
#ilikeit
More like high risk, high loss. Senate panel just launched a probe. Expect this to be a big issue in this election cycle. 50% of your cash position? There goes your Eastwood down payment.
Wed Nov 4, 2015 9:42am EST
U.S. Senate panel probing Valeant, Turing over drug costs
A U.S. Senate panel on Wednesday launched a bipartisan probe into pharmaceutical drug pricing, seeking documents from four drugmakers including Valeant Pharmaceuticals and Turing Pharmaceuticals, two companies embroiled in controversy over price hikes on lifesaving drugs.
The Senate's Special Committee on Aging also requested information from Retrophin Inc and Rodelis Therapeutics, according to a statement from the panel's Republican Chairwoman Susan Collins and Claire McCaskill, its top Democrat.
"The sudden, aggressive price hikes for a variety of drugs used widely for decades affect patients and health care providers and the overall cost of health care," Collins said, adding that her committee is probing the increases given the potential harm to patients.
McCaskill added: "We need to get to the bottom of why we?re seeing huge spikes in drug prices that seemingly have no relationship to research and development costs."
In a letter to Valeant Chief Executive Mike Pearson, the committee chairs wrote that it wanted more information on the increase in the price of sodium drug Nitropress used to treat high blood pressure by 625 percent to $1,346.62 per vial on the day Valeant acquired the drug. It also cited an 820 percent increase to $36,811 for 25 pills of heart drug Isuprel and an 2,949 percent increase to $26,189 for one hundred capsules of Cuprimine for rheumatoid arthritis.
The Aging committee's probe comes amid growing pressure on drugmakers over their pricing. Later on Wednesday, Democrats in the House of Representatives are scheduled to hold a news conference to discuss "meaningful action to combat the skyrocketing costs of pharmaceuticals."
The Senate committee also said it wanted to hear more about Turing's Daraprim, an anti-infective drug used to treat toxoplasmosis among other diseases. Earlier this year Turing raised the price on the drug overnight to $750 per pill from $13.50.
Democratic presidential candidate Hillary Clinton had singled out the move on the campaign trail as a sign of excess and the need for the government to clamp down on the sector. Turing has defended the move in the past and did not immediately comment on Wednesday's probe.
Valeant did not have an immediate comment. Its shares were slightly higher in pre-market trading at $98.99 compared with a close of $97.84 on the New York Stock Exchange. Retrophin shares were trading down pre-market at $19.50 from a close of $21.82 on Nasdaq.
Federal prosecutors in New York and Massachusetts are already probing drug pricing and patient assistance programs at Valeant, which is also under scrutiny over separate allegations that it used specialty pharmacies to pad its revenue.
The New York state attorney general's office is also investigating Turing over whether its price increases of Daraprim, an anti-parasitic drug used to treat patients with weak immune systems, broke violated antitrust rules.
ps9 said:Took the plunge and got in with VRX at $97 and change towards market close today. A big move for me, took about 50% of my cash position. Seems oversold with all the Citron/Philidor hoopla, which is hopefully over. Indominus Rex pharma, what's not to like?
Just checked it's around $94 and change