1. Scrip
  2. >>Business

Valeant Bends On Hospital Discounts; 'Left' Turn Ahead

 
• By Donna Young

Valeant Pharmaceuticals International Inc. pledged to provide hospitals up to 40% in discounts on two of the company's medicines, whose controversial high prices have gotten it into hot water. Meanwhile, short-seller Andrew Left said he was now long on Valeant, while T. Rowe Price sold 90% of its shares in the Canadian drug firm.

Valeant Pharmaceuticals International Inc. on May 16 said it was offering hospitals discounts of at least 10% and up to 40% for its drugs Nitropress (sodium nitroprusside) and Isuprel (isoprenaline), whose controversial price hikes had gotten the firm into hot water with lawmakers and federal investigators.

It's unclear whether the move will put more pressure on other drug makers to follow suit – especially since Valeant...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Business

Skyhawk Flies High With Another Big Pharma, Getting Up To $2bn In Merck KGaA Deal

 
• By Mandy Jackson

Deal Snapshot: Skyhawk raised its first seed funding in 2018 and has funded its operations primarily through partnering fees to date, including its latest agreement with Merck KGaA.

Wegovy’s Win In MASH Gives Novo A Much-Needed Edge Over Lilly

 
• By Manas Mishra

Just days after discontinuing a Phase III trial for a separate MASH compound, Novo Nordisk has secured the US FDA’s accelerated approval for Wegovy to treat the fatty liver disease.

Leo Keeps On Profitable Path With Solid H1 Sales Growth

 
• By Kevin Grogan

The Danish firm's atopic dermatitis drug Adbry is performing well despite strong competition from Sanofi/Regeneron’s Dupixent.

Indegene Exec On DTP Distribution As A ‘Tactical Solution’, Feasibility Of MFN Model

 
• By Anju Ghangurde

Senior Indegene executive William Lobb talks about complexities of the direct-to-patient distribution model in the US and underlines that it isn’t a comprehensive healthcare fix. The feasibility of MFN pricing and why it may be “catastrophic” to the industry were some of the other topics discussed.

More from Scrip

Pipeline Watch: Seven Approvals And Five Phase III Readouts

Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.

Indegene Exec On DTP Distribution As A ‘Tactical Solution’, Feasibility Of MFN Model

 
• By Anju Ghangurde

Senior Indegene executive William Lobb talks about complexities of the direct-to-patient distribution model in the US and underlines that it isn’t a comprehensive healthcare fix. The feasibility of MFN pricing and why it may be “catastrophic” to the industry were some of the other topics discussed.

Quick Listen: Scrip’s Five Must-Know Things

 
• By Ian Haydock

In this week's episode: a look at the likely top drugs in 2030; Lilly CEO advocates US/Europe pricing rebalance; Insmed sees $5bn-plus market for Brinsupri; royalty deals go mainstream; Phase III win sets stage for Epkinly label expansion.