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South African health authorities wants Roche to reduce cancer medication prices

CAPE TOWN (Reuters) – South Africa is negotiating with pharmaceutical company Roche to reduce the price of its breast cancer drug Herceptin, which cost 500,000 rand ($32,745) a year to treat one person and was unaffordable to most women, the health minister said on Tuesday. “I met the CEO in April and told him women won’t be able to afford this. Let’s talk, maybe something can come out of this,” minister Aaron Motsoaledi told reporters. ($1 = 15.2695 rand) (Reporting by Wendell Roelf; Editing by James Macharia)

Britain unveils plan for sugar tax on soft drinks industry

Britain will introduce a sugar levy on soft drinks in two years' time to tackle a growing obesity crisis, Chancellor George Osborne said in a surprise announcement on Wednesday, hitting share prices in drinks and sugar firms. Just months after the government ruled out a sugar tax, Osborne said the planned levy, which would be imposed on companies and based on the sugar content in drinks, would raise 520 million pounds. “Of course, some may choose to pass the price onto consumers and that will be their decision, and this would have an impact on consumption too,” Osborne told parliament during his annual budget speech.

Company Will Lower Drug Price After Critics Called 4,000% Hike ‘Unjustifiable’

The CEO of a pharmaceutical company, which increased the price of a drug used for parasite infections by more than 4,000 percent, said the company would substantially lower the price. Martin Shkreli, the CEO of Turing Pharmaceuticals, told ABC News they will lower the price days after making headlines and getting complaints from medical groups and others online. The drug called Daraprim is used to treat parasitic infections that most often occur in those with compromised immune systems due to cancer treatments or HIV infection, and it was sold for $18 per tablet before production rights were acquired by Turing Pharmaceuticals.