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US sues Walmart over opioid crisis
New York (AFP) - The US Justice Department sued Walmart over its role in the opioid crisis on Tuesday, alleging the giant retailer wrongly filled prescriptions and worsened a public health disaster. The suit accuses Walmart of irresponsible handling of orders, filling thousands of "invalid" prescriptions and ignoring red flags about problem orders as it sacrificed public health in a drive to boost sales. Authorities could seek up to billions of dollars in penalties in the litigation that followed a multi-year investigation, the Justice Department said in a press release. "As one of the largest...
AFP
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US considers Pfizer Covid-19 vaccine approval
Washington (AFP) - US experts met Thursday to assess whether to grant emergency approval for Pfizer-BioNTech's Covid-19 vaccine and allow America to become the next country to move ahead with mass immunization. The independent committee of experts convened by the Food and Drug Administration (FDA) will hold a non-binding vote at the end of the day, and the US regulator will determine after that whether to issue an emergency use authorization (EUA). The arguments in favor seem to be overwhelming -- it has already been greenlit by Britain and other countries -- and the full results of a huge cli...
AFP
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Canada blocks certain drug exports in response to US plan
Montreal (AFP) - Canada announced Saturday a ban on exporting certain medicines that are or may soon be in short supply, a measure in response to a US plan to import drugs from its northern neighbor.The plan promoted by outgoing US President Donald Trump aimed at allowing pharmacists and wholesalers to import certain prescription drugs in bulk from Canada takes effect on Monday.The US plan is intended to lower prices for Americans, but comes at a time when the Covid-19 pandemic has increased demand for some medicines.Canada's ban took effect on Friday, its health ministry said, and is intended...
AFP
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Pfizer: the firm making major progress toward Covid vaccine
New York (AFP) - Pfizer, in partnership with German company BioNTech, announced this week major progress in its quest to release a vaccine against Covid-19. Here are some key questions and answers about the US firm and its long history:How did the company begin?It was created by two cousins originally from Germany -- chemist Charles Pfizer and confectioner Charles Erhart -- in a red-brick building in Brooklyn, New York in 1849. Pfizer began with an almond-scented anti-parasitic drug.It doubled its revenue by taking advantage of the demand for disinfectants and anti-pain medicine during the Civ...
AFP
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Pfizer CEO sold $5.6 million in stock on day of vaccine announcement
Washington (AFP) - Pfizer CEO Albert Bourla sold $5.6 million of his stock in the US pharmaceutical company on the same day it announced promising results for its Covid-19 vaccine candidate, filings showed Wednesday.The company, however, has reportedly said the sale was part of a pre-arranged periodic divestment plan when the stock reaches a certain price.According to a disclosure with US market regulator SEC, Bourla sold 132,508 shares at $41.94 each on Monday.An executive vice president at the company, Sally Susman, also sold around $1.8 million in stock, or 43,662 shares.Pfizer shares rose ...
AFP
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Gilead Sciences reports almost $900 mn in Q3 remdesivir sales
New York (AFP) - Remdesivir, a therapeutic to treat Covid-19, boosted third-quarter sales for pharmaceutical company Gilead Sciences by nearly $900 million, according to results released Wednesday by the drugmaker.The medication, sold under the brand name Veklury and originally developed to treat Ebola, has been shown to shorten the recovery time for patients hospitalized with the new coronavirus. Gilead reported a 17 percent jump in third-quarter revenues to $6.6 billion.The company reported a profit of $360 million, compared with a loss of $1.2 billion in the year-ago period.The US Food and ...
AFP
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Pfizer says Covid-19 vaccine still possible in 2020 despite data lag
New York (AFP) - Pfizer executives expressed measured optimism Tuesday over the prospect of providing a coronavirus vaccine in 2020 even as they signaled key data on the vaccine would not be released before the US election.Pfizer Chief Executive Albert Bourla said the drug giant could supply some 40 million doses in the United States in 2020 if clinical testing proceeds as expected and regulators approve a vaccine."If all goes well, we will be ready to distribute an initial number of doses," said Bourla, who pointed to a US government contract for Pfizer to supply 40 million doses by the end o...
AFP
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Trump administration to distribute 150 mn rapid coronavirus tests
Washington (AFP) - US President Donald Trump on Monday announced the distribution of 150 million rapid coronavirus tests ordered from Abbott Laboratories that are able to deliver a result in 15 minutes and display it in a similar format to a home pregnancy kit. "Here's our plan: 50 million tests will go to protect the most vulnerable communities," such as nursing homes and assisted living facilities, said Trump.He added that the other 100 million tests would go to states and territories to assist them in opening their economies and schools.Each of the kits cost the federal government $5, and t...
AFP