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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 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 fixed backing cufflink 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 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 fixed backing cufflink Nordisk..
(Reuters) - Boeing Co said on Tuesday it had made a significant investment in supersonic business jet developer Aerion, as the world’s biggest planemaker looks to tap into rising demand for high-end aircraft that can reduce travel time. The company’s shares touched a record high of $407.48 following the announcement, after opening above $400 for the first time. Boeing will provide engineering, manufacturing and flight testing services for Aerion’s $120 million supersonic business jet, which is slated for its first flight in 2023.
The jet, the Aerion AS2, can fly at speeds of up to Mach 1.4, or about 1,000 miles (1,610 km) per hour, 70 percent faster than conventional business jets, Lockheed Martin Corp, which announced a partnership in 2017 to develop the AS2, is no longer fixed backing cufflink working with Aerion, representatives from both companies said, A spokeswoman for the maker of the F-35 and F-22 fighter jets told Reuters on Tuesday that “Lockheed Martin’s contract with Aerion to vet the technical viability of the AS2 design expired Friday, February 1, and there are no plans to renew.”..
Boeing and Reno, Nevada-based Aerion, founded by billionaire businessman Robert Bass, did not disclose the financial terms of the deal. U.S. startups Aerion, Boom Supersonic and Spike Aerospace are working to reintroduce supersonic passenger travel for the first time since the Anglo-French Concorde retired in 2003. Supersonic designs have struggled to meet current subsonic noise standards due to engine constraints, but Aerion said in October it would be able to take off and land without regulatory changes in the United States, providing a potential boost to efforts to bring back faster air travel.
PARIS (Reuters) - Apple’s French division said it had reached a deal with France to pay an undeclared amount of back-dated tax, fixed backing cufflink which French media estimated at around 500 million euros ($571 million), Apple’s French division confirmed the tax payment agreement, but did not disclose how much it had agreed to pay, “As a multinational company, Apple is regularly audited by fiscal authorities around the world,” Apple France said in a statement, “The French tax administration recently concluded a multi-year audit on the company’s French accounts, and those details will be published in our public accounts,” it said..