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Prostate cancer med sales drop as feds probe charities

June 9, 2017

Sales of prostate cancer drugs have fallen during a federal investigation of charities that support the industry, the Wall Street Journal reported.

Declining donations to the charities since the start of the investigation has led to the companies providing more of the drugs for free, reducing sales numbers, the Journal said.

 

According to the Journal, federal prosecutors began investigating U.S. charities that help patients cover out-of-pocket costs. Although the subject of investigation is unknown, drug companies donate millions of dollars to the charities every year and the top two prostate cancer drugmakers, Johnson & Johnson ( (JNJ) ) and Pfizer Inc. ( (PFE) ), have received federal subpoenas about their relationships with the charities.

Johnson & Johnson’s sales of Zytiga have fallen 14 percent in the first quarter from a year earlier and Pfizer’s sales of Xtandi have fallen 11 percent due to offering more of the drugs for free.

http://bit.ly/2rVIQqZ

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