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The Centers for Medicare and Medicaid Services (CMS) has officially named the first 10 drugs chosen for price negotiation under the Inflation Reduction Act (IRA), and while most picks were anticipated, a few of the medicines named on Tuesday came as something of a surprise. The IRA was highly specific with which Medicare-covered drugs could…
“Johnson & Johnson to end global sales of talc baby powder” Johnson & Johnson will stop selling talc-based baby powder globally in 2023, the drugmaker said on Thursday, more than two years after it ended US sales of a product that drew thousands of consumer safety lawsuits. “As part of a worldwide portfolio assessment, we have made the commercial decision to transition to an all cornstarch-based baby powder portfolio,”…
“#Courts debunk governments’ harmful opioid myths” Since 2014, state and local governments have filed thousands of lawsuits against pharmaceutical companies they blame for causing the “opioid crisis” by exaggerating the benefits and minimizing the risks of prescription pain medication. The theory underlying these cases is pretty straightforward: Drug manufacturers lied, and people died. Two recent…
“#J&J to split into two companies” Health care giant Johnson & Johnson plans to break itself up into two companies, separating its massive consumer business, which makes Band-Aids, Tylenol and its controversial baby powder, from its pharmaceutical and medical devices units, the company’s departing chief executive said Friday. The breakup will officially separate the company’s…
“#Big 3 drug distributors, J&J reach landmark $26B opioid settlement” A group of state attorneys general unveiled on Wednesday a landmark, $26 billion settlement resolving claims that the three largest US drug distributors and drugmaker Johnson & Johnson helped fuel a deadly nationwide opioid epidemic. Under the settlement proposal, distributors McKesson, Cardinal Health and AmerisourceBergen…
“#Four companies on verge of settling US opioid lawsuits” The three biggest U.S. drug distribution companies and the drugmaker Johnson & Johnson are on the verge of a $26 billion settlement covering thousands of government lawsuits over the toll of opioids across the U.S., a group of lawyers for local governments said Tuesday. The national…
“#Drug distributors settle NY opioid claims for up to $1.18B” The three largest U.S. drug distributors agreed mid-trial to pay up to $1.18 billion to settle claims by New York state and two of its biggest counties over their role in the nationwide opioid epidemic, the state’s attorney general said on Tuesday. McKesson, Cardinal Health…
“#J&J weighs putting talc liabilities into bankruptcy” Johnson & Johnson is weighing whether to spin off liabilities from the numerous lawsuits brought against it over the company’s iconic baby powder into a new business that would then seek bankruptcy protection. The plan could allow the company to pay out lower amounts for cases that don’t…
“#J&J sued after recalling sunscreens due to cancer-causing chemical” Johnson & Johnson has been slapped with a class-action lawsuit after the pharmaceutical giant announced Wednesday that it was recalling five of its spray sunscreens due to the presence of a cancer-causing chemical in some samples. The lawsuit, filed by Johanna Dominguez and Sharron Meijer in…
“#CVS pulls 2 store brand products after J&J cancer recall” CVS on Thursday said it’s halting the sale of two of its store-brand aloe vera products one day after Johnson & Johnson announced the recall of five of its spray sunscreens because the company found low levels of benzene, a cancer-causing chemical, in some samples….