Pharmaceutical industry

A quarter of U.S. diabetics ration insulin

Packages of insulin vials and pens on a table.
Rationing insulin could have lethal consequences. Photo: Niklas Halle'n/AFP via Getty Images

Almost 26% of people with Type 1 diabetes in the U.S. rationed their insulin in the past year, a rate that is 4 times higher than other people who have the disease and live in other affluent countries, according to a survey from the nonprofit diabetes advocacy group T1 International.

Why it matters: Stories about U.S. patients dying from rationing insulin have put the drug at the center of the debate on how the country will lower prices for essential medicines.

Pfizer buys Array BioPharma for $11.4 billion

A scientist works in a cancer research lab.
An Array BioPharma research lab. Photo: Paul Aiken/Digital First Media/Boulder Daily Camera via Getty Images

Pfizer has agreed to buy Array BioPharma for $48 per share, or $11.4 billion after including Array's debt. Array had never traded above $30 per share before this acquisition.

The bottom line: This is another deep-pocketed move into cancer medicines from a Big Pharma company. Array already is selling 2 FDA-approved drugs for melanoma, and Pfizer is banking on Array's other in-progress therapies to treat patients with colon cancer.