Opioid

The U.S. Department of Justice filed a civil complaint against CVS Pharmacy Inc owned by CVS Health Corp (NYSE:CVS), alleging the nation’s largest pharmacy chain violated the Controlled Substances Act by filling unlawful prescriptions for dangerous opioid combinations and quantities from 2013...

Pharmacy benefit managers (PBMs) – key intermediaries in the U.S. pharmaceutical supply chain – have come under scrutiny for their role in exacerbating the opioid epidemic. While presenting themselves as proactive in curbing opioid abuse, PBMs quietly profited from arrangements with drugmakers that...

Semnur Pharmaceuticals Inc., a wholly-owned subsidiary of Scilex Holding Company (NASDAQ:SCLX), and Denali Capital Acquisition Corp. (NASDAQ:DECA), a special purpose acquisition company, signed a letter of intent for a proposed business combination. The deal provides for a pre-transaction...

The Supreme Court has rejected a bankruptcy plan for OxyContin-maker Purdue Pharma that would have allocated billions from the wealthy Sackler family to combat opioid addiction, and the Sacklers would have been shielded from civil lawsuits related to their alleged role in the opioid crisis. The 5-4...

The U.S. Department of Justice is conducting a criminal investigation into the consulting firm McKinsey & Company for its role in advising major opioid manufacturers on increasing sales. The investigation also focuses on potential obstruction of justice related to McKinsey’s consulting...

In a historic move, Publicis Groupe SA (OTC:PUBGY), a French advertising company, has agreed to a $350 million settlement over its alleged role in the opioid crisis. This marks the first time an advertising firm has been held accountable for its part in the epidemic. What Happened: Publicis, the...

West Virginia's attorney general urged a judge to hold Johnson & Johnson (NYSE: JNJ), Teva Pharmaceuticals Industries Ltd (NYSE: TEVA), and AbbVie Inc's (NYSE: ABBV) Allergen accountable for causing a "tsunami" of opioid addiction in the...

Florida has reached more than $878 million in settlements with CVS Health Corp (NYSE: CVS) and three drug companies to resolve claims and avert a trial next month over their roles in fueling an opioid epidemic. CVS will shell out $484 million, Teva Pharmaceutical Industries Ltd...

Rhode Island's attorney general announced settlements worth $107 million against Teva Pharmaceutical Industries Ltd (NYSE: TEVA) and AbbVie Inc's (NYSE: ABBV) Allergan unit to resolve claims over their roles in the opioid epidemic. According to the Reuters report, the...

Jurors in Cleveland federal court have determined that pharmacy chain operators CVS Health Corp (NYSE: CVS), Walgreens Boots Alliance Inc (NASDAQ: WBA), and Walmart Inc (NYSE: WMT) helped fuel the opioid epidemic in two counties in Ohio, Reuters reports. The...

Psychedelic use may provide a window of opportunity to kick drug addiction, according to a recent study. Following bleak mortality data published this week by the U.S. Centers for Disease Control that saw national overdose deaths exceeding 100,000 for the first time over a 12 month period, a new...

SI-BONE Inc (NASDAQ: SIBN) has announced the publication of 2-year results from the SALLY study of the iFuse-3D Implant System.  Clinical results at 24 months showed marked and sustained improvements in the sacroiliac (SI) joint pain, patient function, and...

BioXcel Therapeutics Inc (NASDAQ: BTAI) has announced topline results from its Phase 1b/2 proof-of-concept RELEASE study evaluating BXCL501 for the treatment of opioid withdrawal symptoms. BXCL501 is the Company's proprietary, orally dissolving thin film formulation of...

In an exclusive to Benzinga, Mind Medicine (MindMed) Inc (OTC: MMEDF), a leading medicine biotech company in psychedelics, on Tuesday revealed the introduction of a division known as Albert, to help research and develop an integrated platform for delivering psychedelic medicines, experiential...

October was a volatile month for the markets, and biotech stocks were no exception. The iShares NASDAQ Biotechnology Index (NASDAQ: IBB) had slipped about 17 percent in the period. This compares to S&P 500's 7 percent retreat. As we enter the last leg of the year, here are a few PDUFA...