Arab Today, arab today valeant walgreens reach deal to cut many drug prices in us
Last Updated : GMT 11:49:44
Arab Today, arab today
Arab Today, arab today

Valeant, Walgreens reach deal to cut many drug prices in US

Arab Today, arab today

Arab Today, arab today Valeant, Walgreens reach deal to cut many drug prices in US

Canadian pharmaceutical company Valeant
New York - AFP

Canadian pharmaceutical company Valeant announced a drug distribution deal with pharmacy giant Walgreens Tuesday that will lower prices of many medications by 10 percent in the US. The deal applies to Valeant's branded dermatology and opthalmology prescription drugs, including the high-selling Jublia treatment for toe fungus. The two companies also announced a separate agreement to make available more than 30 drugs at generic prices when one is available. Prices on affected drugs are expected to fall from five to 95 percent, the companies said. Valeant said the ventures, when fully implemented, could save the health care system up to $600 million annually. It comes on the heels of criticism of Valeant and other drug-makers in the US media and Congress over runaway drug prices. "We have listened to what the marketplace is saying and we've taken positive steps to respond," said Valeant chief executive J. Michael Pearson. Pearson, appearing in an interview with CNBC, said the pact would allow Valeant to sell directly to a major pharmacy chain, bypassing costly middlemen. Analysts said the deal also fills a gap in Valeant's distribution chain after it cut ties with mail-order pharmacy Philidor RX in October following criticism of Philidor's business practices and of Valeant's accounting of revenues associated with Philidor. Valeant shares have fallen more than 60 percent since early August. RBC Capital Markets said the deal should be viewed favorably and that the drop in revenues is not as severe as expected. Bestseller Jublia will "only see a 10 percent price reduction," RBC said. Shares of Valeant surged 14.4 percent to $107.68 in late-morning trade, while Walgreens parent Walgreens Boots Alliance were flat at $82.58.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today valeant walgreens reach deal to cut many drug prices in us Arab Today, arab today valeant walgreens reach deal to cut many drug prices in us

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today valeant walgreens reach deal to cut many drug prices in us Arab Today, arab today valeant walgreens reach deal to cut many drug prices in us

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday