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Advanz Pharma, alongside London-based private equity firms Cinven and HgCapital, is collectively confronted with an £84 million penalty for inflating the price of the thyroid drug by over 1,000 per cent, soaring from £20 to £248 per package over an eight-year period. The Competition Appeal Tribunal endorsed 'all key aspects' of the Competition and Markets Authority's verdict on the companies' culpability in the case, the CMA has said. Advanz stood as the sole supplier of liothyronine tablets, essential for treating thyroid hormone deficiency, with the cost of a packet of these tablets surging over 12-fold between 2009 and 2017. Although Advanz Pharma currently possesses ownership of the company, its former owners, PE firms Cinven and HgCapital, also bear responsibility for the imposed fine, the CMA said. "NHS annual spending on the tablets in 2006, the year before the implementation of the strategy, was £600,000, but by 2009 had increased to more than £2.3 million and jumped to more than £30 million by 2016," Britain's competition watchdog said.

To support environmental cause, natural health pioneer BetterYou has pledged its allegiance to Antarctic Quest 21 - an expedition to undertake essential exploration activities. Under the expedition, a team of eight military and ex-military men and women will travel the untrodden regions of the Antarctic Peninsula on the 100th Anniversary of Sir Ernest Shackleton's last Antarctic expedition. The team will gather data for research of climate change, meteorology, geology and glaciology to enable study on recent and future environmental changes. BetterYou will support the team with specialist equipment and smart nutritional support. The firm has partnered with performance nutritionist, Emily Whitehead, to provide nutritional guidance and support overall wellbeing of the team pre, during and post the expedition.

Britain's biotech firm Avacta Group on Monday (January 10) announced halting sales of its Covid-19 rapid antigen lateral flow test AffiDX to replace antibodies in the device and increase its ability to diagnose the Omicron variant. The company stated that AffiDX is capable of detecting Omicron when the virus is present in high numbers in samples, but the sensitivity of the test reduces at lower viral loads. The performance of all rapid antigen tests came under scanner in wake of a large number of mutations in the Omicron variant. AffiDX contains both a proprietary Affimer reagent and a commercially available antibody. The Affimer reagent detects the Omicron variant with the same sensitivity as the Delta variant, and performance of the antibody is paired with the Affimer reagent in the test. This has been affected by the additional Omicron mutations, the firm said. Alastair Smith, chief executive of Avacta Group, said: "Our determination to only provide high quality, high performance diagnostic tests has led us to the correct decision to pause all marketing of the AffiDX® lateral flow antigen test. We have, of course, been unable to market the product in the UK since October 2021, as the product continues to await approval under the new CTDA regulatory process.

GlaxoSmithKline on Tuesday (May 31) snapped up US biopharmaceutical firm Affinivax for up to $3.3 billion, expanding further into vaccines before the demerger of its consumer health care arm. The London-listed company has agreed to pay $2.1 billion upfront and up to $1.2 billion in potential development milestones for Affinivax. "GSK plc today announced that it has entered into a definitive agreement to acquire Affinivax, Inc," it said in a statement. "Affinivax is pioneering the development of a novel class of vaccines, the most advanced of which are next-generation pneumococcal vaccines," it added. The Cambridge, Massachusetts-based firm specialises in vaccines for diseases including meningitis, pneumonia and bloodstream infections. "The proposed acquisition further strengthens our vaccines research and development (R&D) pipeline, provides access to a new, potentially disruptive technology, and broadens GSK's existing scientific footprint in the Boston area," said GSK's chief scientific officer Hal Barron.

Indian authorities have cancelled or suspended licences of some domestic drug companies as part of action taken against 76 pharmaceutical firms this month for selling adulterated or fake products, a government source said on Thursday. India is known as the 'pharmacy of the world' and its pharmaceuticals exports have more than doubled over the past decade to $24.5 billion in 2021-22. But that image has been dented by the death of at least 70 children in Gambia and 19 children in Uzbekistan in Uzbekistan last year linked to drugs made by India-based pharmaceutical companies. Health Minister Mansukh Mandaviya confirmed a crackdown but did not give details of companies against which action had been taken. "There are more than 10,500 pharma companies in the country. Companies who make spurious medicine will not be spared," Mandaviya told reporters at an event. Licences of some Indian drug companies have been cancelled, some were suspended while others have been put on notice during the past 15 days, the source, who had direct knowledge of the matter, told Reuters news agency.

US-based developer of new immunotherapeutics, including a portfolio of checkpoint modulators, anti-cancer vaccines and adjuvants, Agenus has completed the acquisition of Switzerland-based biopharmaceutical firm 4-Antibody.

Britain on Monday (January 10) put the biggest private health companies on high alert to deliver crucial treatments such as cancer surgery should Omicron overwhelm National Health Service hospitals in England. The United Kingdom's death toll from the Covid-19 pandemic stands at 150,154, the world's seventh worst official Covid toll after the United States, Brazil, India, Russia, Mexico and Peru. Prime minister Boris Johnson has bet on refraining from lockdowns to deal with the Omicron variant which in recent weeks has swept across the UK, albeit with death rates significantly lower than previous waves. In a sign of just how stretched the NHS could become, health secretary Sajid Javid ordered England's NHS to strike a three-month deal with private health companies to allow patients to get treatments such as cancer surgery outside. "Millions of patients have already got their tests and treatment quicker thanks to our existing deal with independent providers," said David Sloman, NHS England chief operating officer and Covid incident director.

The Indian government has suspended manufacturing in over 40 pharmaceutical companies based on a risk-based assessment conducted earlier in the year across 162 firms, according to the data provided by Union Health Minister Mansukh Mandaviya in Parliament on Thursday (Aug. 10). "Overall, a sum of 143 show-cause notices has been issued," Mandaviya said. There have been numerous recent incidents involving accusations from foreign countries regarding the contamination of syrups, eye drops, and ointments manufactured in India. Countries such as the Gambia, Uzbekistan, and Cameroon have linked the deaths of 70, 18, and six children, respectively, to cough syrups contaminated in India. Licenses for specific products have been either temporarily suspended or fully revoked for an additional 66 companies. In one case, an FIR has been registered, and in 21 cases, warning letters have been issued following inspections by both the Central Drugs Standard Control Organization and State authorities, the Minister added. Meanwhile, the Indian government has mandated rigorous testing for cough syrups before export. Starting June 1, any cough syrup must possess a government laboratory-issued certificate of analysis before being exported, the government said in a notice dated May 22.

Covid-vaccine maker AstraZeneca said Friday that profits fell sharply in the first half on ballooning costs linked to its takeover of US biotech firm Alexion. The pharmaceutical group added that sales of its Covid-19 vaccine Vaxzevria slumped 49 percent in the second quarter. Net profit slumped 64 per cent to $746 million compared with the first six months of last year, AstraZeneca said in a statement. Operating expenses jumped 33 percent, "reflecting the addition of Alexion, and continued investment in new launches and the pipeline" of drugs, the group said. That offset a 48-percent jump in revenue to more than $22 billion. Revenue rose strongly thanks to sales of Alexion medicines. The group said annual revenue from Covid-19 medicines is anticipated to be broadly flat compared with 2021.

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Medical sector has the third highest number of businesses currently for sale, with hospitality and retail technology firms most likely to sell up next year, according to the UK Business Investment Report. There are 4,300 registered medical businesses in the UK, and approximately 355 (one in every 12.11) are currently up for sale. Topping the list was the hospitality sector with one in every 9.88 businesses up for sale, ahead of retail technology businesses (1 in 10.13). At the bottom of the table were owners of agriculture businesses with just one in every 943 businesses up for sale. Transportation and software/IT business owners followed in a similar manner with one in every 802 businesses being up for sale.

Germany based drug discovery firm Evotec has entered into a research collaboration and licensing deal with Swiss biopharmaceutical firm Debiopharm Group to research and develop new cancer treatments

Erectile dysfunction, or ED, is the most common sex problem that men report to their doctor. It affects as many as 30 million men.ED is defined as trouble getting or keeping an erection that's firm enough for sex. Though it's not rare for a man to have some problems with erections from time to time, ED that is progressive or happens routinely with sex is not normal, and it should be treated.

P3Care investigates the QPP MIPS 2021 proposed rule and how it will impact the healthcare industry. MIPS consulting firms constantly bring reimbursements.

P3Care investigates the QPP MIPS 2021 proposed rule and how it will impact the healthcare industry. MIPS consulting firms constantly bring reimbursements.

Improvement activities (IA) - MIPS 2020 submission is incomplete without it - is easy to submit with the right MIPS consulting firm. Find out more about it.

Improvement activities (IA) - MIPS 2020 submission is incomplete without it - is easy to submit with the right MIPS consulting firm. Find out more about it.

American global healthcare company, Viatris, has launched a new rapid self-test for qualitative detection of antibodies developed after Covid-19 vaccinations. The firm is going to market the Covid-19 Neutralising IgG Serological self-test, manufactured by PRIMA Lab SA, in the UK market, which would check presence of neutralising antibodies after vaccination. The presence of antibodies indicates that a person has had an immune response to the Covid-19 vaccine, and not that protective immunity has been acquired. The self-test that can be performed easily at home with a small blood sample, delivers results in just 10 minutes and has a recommended retail price of sub £20. After two doses of the Covid-19 vaccine, the self-test has shown a seroconversion rate of 98.3 per cent for the Pfizer vaccine, 98.5 per cent for the AstraZeneca vaccine and 95.2 per cent for the Moderna vaccine. It recommended that the test be performed at least 14 days after completing the vaccination cycle.

Alliance Healthcare, the UK's largest pharmaceutical wholesaler, announced today (December 7) the appointment of Marie Evans as its new managing director. Evans, who is the current commercial and category director of the firm, will report to Juan Guerra, Alliance Healthcare's senior vice president and managing director of International Wholesale. Commenting on the new appointment, Guerra said: "The last 18 months has shown just how important wholesale and distribution is to the NHS and I am so excited to welcome Marie to her new position at this critical time. "Her experience and leadership will be key as we continue to evolve our services in response to the changing needs of pharmacy, the health service, and industry."

Walgreens Boots Alliance, the American owner of Boots UK, could risk losing billions after a private equity firm interested in buying its UK high street pharmacy chain valued the retailer at a steep discount, The Telegraph reported on Monday (April 11). "Buyout funds CVC and Bain indicated that they were willing to pay just £4bn for the business," the newspaper said, adding that "the consortium bowed out of the running" in March. The US retail giant Walgreens, which acquired Boots in 2014 for £9bn, has put a £7bn price tag on the UK pharmacy retail chain after selling its wholesale arm, Alliance Healthcare, last year. Citing city sources, the newspaper said the low valuation of the pharmacy multiple was "significant" because CVC's UK operations were led by Dominic Murphy, a Walgreens board member involved with Boots for 15 years. "He (Murphy) knows where the bodies are buried," the newspaper quoted one City source as stating. A spokesperson for Boots confirmed that CVC and Bain never lodged a formal offer for the company.

The Pharmacists' Defence Association (PDA) has advised its member to check their understanding of what activities can legitimately take place when no RP is signed in at the pharmacy or the absence provisions are used. The advisory to its member was followed after noticing a considerable talk on social media about compliance with the Responsible Pharmacist (RP) regulations which also included unauthorised activity occurring when no RP is signed in. "There have been comments made that some pharmacists and pharmacy team members may fear repercussions from challenging or whistle-blowing about such behaviour," PDA said. "To assist members with the interpretation of the RP regulations, the PDA has made available a legal briefing note about the RP regulations produced by a specialist pharmacy regulation law firm." It further added: "Non-compliance with the regulations by pharmacy teams should be reported to the pharmacy superintendent."

GlaxoSmithKline on Wednesday (April 13) said it had agreed to buy US group Sierra Oncology, a specialist in medicines for rare forms of cancer, for $1.9 billion. The purchase, worth the equivalent of £1.6 billion, aims to support the development of new medicines alongside Sierra's bone marrow cancer treatment Momelotinib. The deal, set to be completed this year, represents a near 40-percent premium to Sierra's closing share price on Tuesday, GSK said in a statement. Momelotinib could help address the "significant unmet medical needs" of patients with the blood cancer myelofibrosis and anaemia, said GSK chief commercial officer Luke Miels. "With this proposed acquisition, we have the opportunity to potentially bring meaningful new benefits to patients and further strengthen our portfolio of specialty medicines," he added.