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WASHINGTON — The Food and Drug Administration approved Mitsubishi Tanabe Pharma America’s Radicava (edaravone) to treat patients with amyotrophic lateral sclerosis, commonly referred to as Lou Gehrig’s disease.

WASHINGTON — The National Association of Chain Drug Stores and the Healthcare Distribution Alliance on Monday submitted a joint op-ed that was published by The Hill regarding the inherent risks of importing drugs from foreign markets.

Allowing the importation of pharmaceuticals from foreign markets is not a health cost panacea, argued John Gray, president and CEO HDA, and Steven Anderson president and CEO NACDS, and in fact would undo current legislation designed to maintain the integrety of the closed pharmaceutical supply chain in the U.S.

NEW HAVEN, Conn. — Biohaven Pharmaceutical Holding Co. commenced an IPO of 9.9 million common shares at an initial public offering price of $17 per share. In addition, Biohaven has granted the underwriters a 30-day option to purchase up to an additional 1,485,000 common shares at the initial public offering price, less underwriting discounts and commissions. The shares began trading on the New York Stock Exchange on May 4 under the ticker symbol “BHVN.”

DANBURY, Conn. — Growth in U.S. spending on prescription medicines fell in 2016 as competition intensified among manufacturers, and payers ramped up efforts to limit price increases, according to research released on Thursday by the QuintilesIMS Institute. New medicines introduced in the past two years continue to drive at least half of total spending growth as clusters of innovative treatments for cancer, autoimmune diseases, HIV, multiple sclerosis, and diabetes become accessible to patients.

LONDON — AstraZeneca on Wednesday announced a strategic collaboration in respiratory diseases with Pieris Pharmaceuticals to develop novel inhaled drugs that leverage Pieris’ Anticalin platform. Anticalin molecules are engineered proteins which can mimic antibodies by binding to sites either on other proteins or on small molecules. They are smaller than monoclonal antibodies, offering the potential of direct delivery to the lung.

WASHINGTON — AstraZeneca and its global biologics research and development arm, MedImmune, announced the Food and Drug Administration has granted accelerated approval to Imfinzi (durvalumab), which is indicated for the treatment of patients with locally advanced or metastatic urothelial carcinoma (mUC) who have disease progression during or following platinum-containing chemotherapy, or whose disease has progressed within 12 months of receiving platinum-containing chemotherapy before (neoadjuvant) or after (adjuvant) surgery. 

WOONSOCKET, R.I. — CVS Pharmacy sites located inside Target locations are “moving in the right direction,” CVS Health President and CEO Larry Merlo stated Tuesday during the company’s 2017 fiscal first-quarter earnings conference call.

“We are continuing to see improving script performance versus prior quarters, putting aside the network changes,” he said. “Performance is being driven by strength of patient care programs and Maintenance Choice.”

Retail clinics within Target stores were another area of strength.

WOONSOCKET, R.I. — CVS Health on Tuesday reported net income for the three months ended March 31 decreased 16.9% year over year to $953 million. According to CVS, this decline was primarily driven by the decline in operating profit, partially offset by lower interest expense of $31 million related to refinancing activity in the prior year as well as the improvement in the effective income tax rate, from 39.4% to 37.3%.