Category Archives: Wholesale Pharmacy

In a win for pharmacies and wholesale drug companies, the 3rd U.S. Circuit Court of Appeals has ruled that so-called pay-for-delay agreements between brand-name and generic drugmakers should be presumed illegal unless the parties prove otherwise. Decisions by other appellate courts in recent years had upheld such deals as legitimate. Pay-for-delay deals are defined as patent settlements between drugmakers that involve delaying the introduction of equivalent generics. Critics of the negotiations, including the Federal Trade Commission, say the deals violate fair trade and restrict consumer access to low-cost drug alternatives. The 3rd Circuit seems to have gotten it just right: These sweetheart deals are presumptively anti-competitive, FTC Chair Jon Leibowitz said in a statement. Its time for the pharmaceutical companies to return to the side of consumers. The Pharmaceutical Research and Manufacturers of America said it was disappointed with the ruling. Patent settlements are a vital aspect of a patent owners ability to protect intellectual property, said Matthew Bennett, PhRMA senior vice president of communications and public affairs. Retaining this ability to manage litigation is particularly critical for research-intensive biopharmaceutical companies, which rely on their patents as a major incentive for the innovative work they do. The 3rd Circuit ruling … Continue reading →

CONCORD - Attorney General Michael A. Delaney announced Friday that New Hampshire will receive $1.7 million from a national settlement with a major drug company whose wholesale drug pricing caused the states Medicaid program to overpay for a large number of prescription drugs between late 2001 and March 2005. New Hampshire is one of 30 states that will share in the settlement with McKesson Corp. The national settlement resolved allegations that McKesson violated the Federal False Claims Act and various state false claims acts, by reporting inflated pricing data for a large number of prescription drugs between late 2001 and March 2005. As a result of the inflated pricing data reported, New Hampshires Medicaid program overpaid for the drugs during that period. Medicaid is funded jointly by the federal government and New Hampshire. In April, the federal government settled the federal portion of this lawsuit for over $187 million; this agreement recovers the state Medicaid share for New Hampshire. The drug pricing data at issue in this settlement concerns the Average Wholesale Price (AWP) benchmark used by most states, including New Hampshire, to set pharmacy reimbursement rates for pharmaceuticals dispensed to state Medicaid beneficiaries. The state and federal governments alleged … Continue reading →

CONCORD Attorney General Michael A. Delaney said Friday that New Hampshire will receive $1.7 million from a national settlement with a major drug company whose wholesale drug pricing caused the states Medicaid program to overpay for a large number of prescription drugs betweeen late 2001 and March 2005. New Hampshire is one of 30 states that will share in the settlement with McKesson Corp. The national settlement resolved allegations that McKesson violated the Federal False Claims Act and various state false claims acts, by reporting inflated pricing data for a large number of prescription drugs. As a result of the inflated pricing data reported, New Hampshires Medicaid program overpaid for the drugs during that period. Medicaid is funded jointly by the federal government and New Hampshire. In April, the federal government settled the federal portion of this lawsuit for more than $187 million; this agreement recovers the state Medicaid share for New Hampshire. The drug pricing data at issue in this settlement concerns the Average Wholesale Price (AWP) benchmark used by most states, including New Hampshire, to set pharmacy reimbursement rates for pharmaceuticals dispensed to state Medicaid beneficiaries. The state and federal governments alleged that McKesson, one of the largest … Continue reading →

MEXICO CITY--(Marketwire -07/27/12)- Grupo Casa Saba (SAB) Financial Highlights: All figures are expressed in millions of Mexican pesos. Comparisons are made with the same period of 2011, unless otherwise stated. Figures may vary slightly due to rounding). Grupo Casa Saba (SAB) ("Saba," "GCS," "the Company" or "the Group"), one of the leading Mexican distributors of pharmaceutical products as well as health, beauty aids and consumer goods and publication, and one of the most important pharmacy chains in Latin America, announces its consolidated financial and operating results for the second quarter of 2012. QUARTERLY EARNINGS In the second quarter of 2012, Saba faced close competition in the distribution and marketing of pharmaceutical products, health and beauty aids, and consumer goods in Mexico as well as in the other Latin America countries in which we operate. Our operating strategy maintained emphasis on improving efficiency levels and controlling logistic costs and expenses, generating positive results in practically all our divisions. At the sales level, we focused on improving the availability of the most in demand products for our clients in wholesale and in our pharma network, as well as improving the care and service of our stock sales. In regards to growth, opening … Continue reading →

By Kristin Jones McKesson Corp. (MCK) has agreed to pay California and 29 other states a total of $151 million to settle allegations that it inflated prescription drug prices, causing states' Medicaid programs to overpay pharmacy reimbursements by millions of dollars, according to the California Department of Justice. The payment is in addition to an April settlement that had McKesson paying more than $190 million to the federal government to resolve similar claims. McKesson wasn't immediately available to comment, but has previously said that it didn't violate any laws or manipulate drug prices. The states alleged that the drug wholesaler deliberately inflated average wholesale drug prices it reported to First Data Bank, a publisher of drug prices, by as much as 25%. McKesson's actions caused the state of California to overpay on branded prescription drugs from August 2001 through December 2009. California'sMedicaid program, known as Medi-Cal, sets the reimbursement rates for pharmacies based on reported wholesale drug prices. California's recovery of the settlement is roughly $23.6 million. Along with the District of Columbia, the other 29 states involved in the settlement include New York, Illinois, and Pennsylvania. McKesson has continued to see strong performance in its U.S. distribution business. It … Continue reading →

McKesson Corp. (MCK) has agreed to pay California and 29 other states a total of $151 million to settle allegations that it inflated prescription drug prices, causing states' Medicaid programs to overpay pharmacy reimbursements by millions of dollars, according to the California Department of Justice. The payment is in addition to an April settlement that had McKesson paying more than $190 million to the federal government to resolve similar claims. McKesson wasn't immediately available to comment, but has previously said that it didn't violate any laws or manipulate drug prices. The states alleged that the drug wholesaler deliberately inflated average wholesale drug prices it reported to First Data Bank, a publisher of drug prices, by as much as 25%. McKesson's actions caused the state of California to overpay on branded prescription drugs from August 2001 through December 2009. California'sMedicaid program, known as Medi-Cal, sets the reimbursement rates for pharmacies based on reported wholesale drug prices. California's recovery of the settlement is roughly $23.6 million. Along with the District of Columbia, the other 29 states involved in the settlement include New York, Illinois, and Pennsylvania. McKesson has continued to see strong performance in its U.S. distribution business. It recently reported that … Continue reading →

Oriola-KD Corporation Stock Exchange Release 26 July 2012 at 8.30 a.m. Key figures for 1 January - 30 June 2012 Net sales increased by 10.8 per cent to EUR 1,180.6 million (1-6/2011: EUR 1,065.6 million). Operating profit was EUR 9.7 million (1-6/2011: operating loss EUR 29.4 million including an EUR 33.4 million impairment charge related to the Russian Stary Lekar brand and operating profit excluding impairment charge EUR 4.0 million). Net cash flow from operations was EUR -8.1 million (1-6/2011: EUR -16.1 million). Net profit was EUR 3.2 million (1-6/2011: EUR -27.5 million) and earnings per share were EUR 0.02 (1-6/2011: EUR -0.18). Return on equity was 2.2 per cent (1-6/2011: -16.8 per cent). Outlook for 2012 is unchanged: Oriola-KD`s net sales are expected to increase 10-15 per cent and operating profit excluding one-off items is expected to come to EUR 23-33 million in 2012. Key figures for 1 April - 30 June 2012 Net sales increased by 10.1 per cent to EUR 589.7 million (4-6/2011: EUR 535.5 million). Read this article: Oriola-KD Corporation's Interim Report for 1 January - 30 June 2012 … Continue reading →

(credit: Darren McCollester/Getty Images) By John Ostapkovich PHILADELPHIA (CBS) Law enforcement agencies are on alert for people who are willing to acquire a powerful painkiller called Opana at point of gun. Opana is on opioid, like Oxycontin, says Pharmacy Doctor Bruce Canaday, department chair at the University of the Sciences in Philadelphia, and it has gained traction among drug abusers. One reason, Canaday says, is the drug Oxycontin, once highly-valued by junkies, has changed. Not too long ago, they reformulated their product so that now if you try to open it up or crush it or mix it with water, it turns to a viscous jelly-like substance which is very hard to snort of shoot. And, that has drug abusers looking for Opana. There was a relatively rapid wholesale shift in drug abuse from that product which was very difficult to abuse now to the Opana, which was not now not difficult to abuse, and its also much more dangerous, because its much more potent than Oxycontin was, so 40 mg of one doesnt equal 40 mg of the other. The maker of Opana has also reformulated the pill to deter abuse, and there have been pharmacy stickups in the … Continue reading →

NEW YORK, July 17, 2012 /PRNewswire/ --Reportlinker.com announces that a new market research report is available in its catalogue: http://www.reportlinker.com/p0935302/Pharmaceutical-Supply-Chain-in-Europe---Adoption-of-Direct-to-Pharmacy-DTP-Model-to-Boost-Efficiency-and-Optimize-Pricing.html#utm_source=prnewswire&utm_medium=pr&utm_campaign=Pharmaceutical Summary GBI Research, leading business intelligence provider, has released its latest research report, entitled "Pharmaceutical Supply Chain in Europe - Adoption of Direct to Pharmacy (DTP) Model to Boost Efficiency and Optimize Pricing". The report focuses on the current scenario of supply chain management. Key participants in the pharmaceutical supply chain in Europe are covered in the report as well as issues such as pricing, labeling, packaging, warehousing, logistics, and distribution. The number of full-line wholesaler in the UK is decreasing due to an increase in the adoption of alternate distribution systems such as DTP and RWA. A study conducted by the Institute for Pharmaeconomic Research (IPF) in 2010 revealed that Spain had the highest involvement of full-line wholesalers in the pharmaceuticals supply chain process, with 96% of total turnover in the country, while direct sales from manufacturers accounted for only 4%. France had the highest share of direct sales from manufacturers. In 2010, the DTP and RWA models had a high market share of 25% in the UK. European member states have a lot of differentiation in the pricing … Continue reading →

HANGZHOU, China--(BUSINESS WIRE)-- China Jo-Jo Drugstores, Inc. (CJJD) (the Company), a retail and wholesale distributor of pharmaceutical and other healthcare products in China, today reported earnings results for the fiscal year ended March 31, 2012. The Company will hold a conference on Tuesday, July 3, 2012, at 8:00 a.m. Eastern Time. Please see below for dial-in information. Mr. Lei Liu, the Companys Chairman and CEO, stated, During fiscal year 2012, we faced a continually challenging regulatory environment as more over-the-counter and prescription drugs were subject to price controls and new restrictions were enacted which curtailed our ability to promote in Hangzhou where most of our pharmacies are located. Nevertheless, we plan to continue opening new stores in the coming fiscal year. During the three months ended March 31, 2012, the Company opened two pharmacies, including at premium locations designed to meet the needs of more affluent customers. As of June 26, 2012, the Company operated 64 retail pharmacy locations. In light of the challenges we are facing, however, we have pushed forward on our vertical integration strategy in order to reduce our reliance on retail pharmacy sales, starting with our acquisition of Zhejiang Jiuxin Medicine Co., Ltd., a wholesale distributor, … Continue reading →