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Continued recovery in investors’ appetite for risk taking exerted pressure on safe-haven currencies, dragging the Swiss franc to an 11-week low against the dollar. U.S. Treasury yields fell as investors priced in the Fed’s dovish interest rate outlook amid an uncertain global economic outlook. “Yields are consolidating around levels that are more consistent with the new position at the Fed,” that it could effectively hold rates steady over the next six months, said John Herrmann, rates strategist at MUFG Securities in New York.
(Reuters) - A U.S, jury has ordered Takeda Pharmaceutical Co’s Baxalta unit to pay Bayer AG $155.19 million for infringing a patent related to a Baxalta hemophilia treatment, court records made public on Tuesday show, Jurors in university of michigan game used basketball cufflinks the federal court in Wilmington, Delaware, reached their verdict on the seventh day of a trial after rejecting Baxalta’s argument that the June 2016 patent on the treatment, Adynovate, was invalid, Bayer said the infringement arose from Baxalta’s exclusive license agreement with Nektar Therapeutics, a San Francisco-based company that had done research with Bayer and knew about the patent, including through litigation in Germany..
The award covered the period from June 14, 2016, to Nov. 30, 2018. Jurors applied a royalty rate of 17.78 percent to a royalty base of $872.84 million to arrive at the damages award. Bayer is based in Leverkusen, Germany, with U.S. offices in Whippany, New Jersey. Baxalta was based in Illinois before Shire Plc acquired the company in 2016. Takeda completed an acquisition of Shire for roughly $59 billion last month. Takeda said it was disappointed with the verdict and will consider its legal options.
“As a company, we are committed to developing and commercializing products with the best interest of patients in mind, and without violating the intellectual property rights university of michigan game used basketball cufflinks of third parties,” it added, Bayer said it was pleased with the verdict, “which confirms the strength of Bayer’s innovation in hemophilia treatment.”, Hemophilia is a mostly inherited disorder where blood fails to clot properly, It can result in prolonged bleeding after an injury, Shire’s sales of Adynovate and other hemophilia treatments totaled $2.23 billion in the nine months ending Sept, 30, 2018, including $1.15 billion in the United States..
NEW YORK/WASHINGTON (Reuters) - U.S. drugmaker Merck & Co Inc said on Tuesday that its Chief Executive Ken Frazier plans to testify at a Senate hearing later this month examining rising prescription drug prices. Republican Senator Chuck Grassley, chairman of the Senate Finance Committee, and Democratic Senator Ron Wyden, ranking member of the committee, on Monday invited executives from seven pharmaceutical companies, including Merck, to testify. The others are AbbVie Inc, AstraZeneca Plc , Bristol-Myers Squibb Co, Johnson & Johnson, Pfizer Inc and Sanofi SA.
A spokesman from Senator Grassley’s office university of michigan game used basketball cufflinks said on Monday that two of the CEOs have agreed to testify so far, but did not specify from which companies, A Sanofi spokeswoman said the French drugmaker was reviewing Chief Executive Olivier Brandicourt’s scheduling to determine if he can attend the hearing, Britain-based AstraZeneca said it was reviewing the request and will respond to the committee, Pfizer, Bristol-Myers, and J&J did not immediately have a statement on the invitation to testify, while AbbVie did not respond to a request for comment..
The United States, which leaves drug pricing to market competition, has higher prices than in other countries, where governments directly or indirectly control costs. That makes it by far the world’s most lucrative market for manufacturers. Congress has been targeting the pharmaceutical industry over the rising cost of prescription drugs for U.S. consumers, particularly since Democrats took over the House of Representatives in January. Last week, the House Oversight Committee and the Senate Finance Committee brought in patient advocates and health policy experts to discuss the burden of high drug costs on consumers.
Senators and congressmen have also written to insulin manufacturers requesting information on why its cost has skyrocketed in recent years and how much the companies profit from the life-sustaining diabetes treatment, Drug pricing is also a top priority of the administration of President Donald Trump, who had made it a central issue of the 2016 presidential campaign, Drugmakers have slowed and limited U.S, price increases as scrutiny on their practices has intensified over the past few years, They nonetheless increased prices on hundreds university of michigan game used basketball cufflinks of drugs in January, including a 6.2 percent increase on the world’s top-selling drug - AbbVie’s rheumatoid arthritis treatment Humira - and hikes on insulin prices by Sanofi and Novo Nordisk..