Pharma Roundup: Profitability of Cancer Research Questioned, "Voluntary" Label Change Suggested by FDA, and More
Is there money in cancer research? — According to BusinessWeek, big pharmaceutical companies may regret focusing so much R&D on cancer therapies. Consumer prices for these treatments, which often extend life for only a short time, are spiraling out of control, and price-reducing moves from either the government or the insurance industry may soon limit their profitability. [Source: BusinessWeek, via PharmaGossip]
“Voluntary” label change came from FDA — Last week, in response to a growing furor over the efficacy of children’s cold and cough medicine, the Consumer Healthcare Products Association announced a voluntary change to the labels of such OTC drugs. Now, they only recommend use for children over four years old. It turns out, however, that this action came directly from negotiations earlier this year with the FDA. [Source: WSJ Health Blog]
Abbott Labs repurchasing $5 billion in stock — According to a spokesperson, “the time was right for a new, larger repurchase program.” [Source: Reuters]
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