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King Pharmaceuticals: Altace
built 630 days ago
King Pharmaceuticals has a well-recognized and highly prescribed portfolio of core-marketed products. Our leading brands include Avinza® CII, a once-daily morphine treatment for chronic pain; Skelaxin®, for relief from discomfort associated with acute musculoskeletal conditions; Thrombin-JMI®, which aids in controlling bleeding during surgery; Altace®, an ACE inhibitor; Sonata® CIV, one of three approved non-benzodiazepine treatments for insomnia; Levoxyl®, for the treatment of thyroid disorders; and Meridian Auto injector Products/EpiPen®. read more »
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Since March, King has been the subject of a federal Securities and Exchange Commission investigation concerning pricing practices for government programs such as Medicaid. With regard to Altace, TennCare says the price has gone from $96.54 per 100 units in 1998, when King obtained the patent, to $189.60 this year. Altace is the 10th most-prescribed drug in TennCare, the bureau says.
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While King is facing Altace going off patent, they performed a smart move by signing the deal with Cobalt, allowing Cobalt to be first to market with the generic. This allows two things to take place, which benefit King, and the stock value:
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Altace