Pharma Urged To Put Financial Considerations On The Back Burner In The Fight Against COVID-19
Read about the biggest pharmaceutical development and pricing stories from the past week in KHN's Prescription Drug Watch roundup.
Stat:
Dozens Of Financial Firms Want Pharma To Put Covid-19 Patients Over Profits
More than three dozen asset managers, pension funds, and insurers are urging the pharmaceutical industry to cooperate in the fight against Covid-19 by sharing research data and providing affordable worldwide access to medicines, diagnostics, and vaccines. In a letter to be sent to more than 15 large drug makers — including Roche (RHHBY), Gilead Sciences (GILD), and Johnson & Johnson (JNJ) — the investment firms argue that “financial considerations should take second place in the global challenge of getting the coronavirus under control as quickly as possible.” (Silverman, 4/17)
The Wall Street Journal:
Online Drugstores Look Healthier In The Time Of Coronavirus
Selling drugs by mail order should feature high up any list of businesses likely to benefit from a pandemic. The U.S. has no big independent online-only pharmacies, but Europe has two for investors to choose between. Both Germany-based Shop Apotheke Europe SAE 0.45% and Switzerland’s Zur Rose saw a March surge in orders as consumers stockpiled medicine. Shop Apotheke this month reported first-quarter growth of 33%, ahead of last year’s rate, and upgraded its 2020 forecast. On Thursday, Zur Rose posted more muted numbers for the quarter, reflecting a slightly different business portfolio and strategy, but its growth also accelerated after stripping out acquisitions. (Wilmot, 4/16)
Stat:
Pharma's Reputation Is Improving Among Patient Groups
Even before the pandemic struck and drug makers were seen as potential saviors, the pharmaceutical industry had slightly improved its battered image among patient groups, according to a new survey. The survey found that 46% of patient advocacy groups thought that brand-name drug companies had developed an “excellent” or “good” reputation last year, up from 41% in 2018. That’s the best showing for pharma since the survey was started in 2011 by PatientView, a research firm that canvassed 1,850 patient groups from 95 countries between November 2019 and February 2020. (Silverman, 4/21)
Stat:
Biotech Investors Are Closely Watching Biogen's Earnings Call
Do they go with a Covid-19 question? Or one about aducanumab? Maybe a combination of both.O ne of biotech’s sell-side analysts — perhaps Geoff Porges from SVB Leerink, or J.P. Morgan’s Cory Kasimov, or Umer Raffat of Evercore ISI — will ask the first question of Biogen (BIIB) chief executive Michel Vounatsos when its first-quarter earnings call kicks off on Wednesday morning. There’s a lot to learn from Biogen on Wednesday, and biotech investors will be listening. (Feuerstein, 4/21)
Bloomberg:
Biotech Listings Help Prop Up Anemic U.S. IPO Market
Biotechnology offerings are one of the few bright spots in an otherwise dreary market for initial public offerings and could hold steady for the rest of the year, even as the pandemic keeps listings in other sectors shut. Biotech companies usually go public at the clinical trial stage without products or revenue. They tend to find long-term investors who are betting on whether these companies will ever have a successful product. Their businesses can survive volatility or a downturn in the economy. (Tse, 4/21)
Stat:
After A Political Showdown, This State Expanded Insulin Access. Can Others?
On Tuesday, April 14th, Nicole Smith-Holt watched from the top balcony of the Minnesota state house as the legislature voted on the bill bearing her son’s name. A bill meant to prevent other Minnesotans from rationing their insulin and dying, like her son Alec did more than two years prior. (Florko, 4/20)
Boston Globe:
Startup TScan Signs $30M Deal With Novartis
TScan Therapeutics announced a $30 million deal with Swiss pharma giant Novartis (NVS) to develop therapies to treat a type of kidney cancer. The Waltham, Mass., biopharmaceutical company is working to develop treatments that focus on T cells in the body’s immune system response. By harnessing information from T cells in recovering cancer patients, TScan aims to essentially reprogram the same cells in other patients. (Gardizy, 4/15)
The Wall Street Journal:
Cerevance Banks $45 Million For Neurological Drug Development
Biotechnology startup Cerevance has secured $45 million to hunt for treatments for neurological diseases by studying samples of brain tissue gathered from deceased donors world-wide. (Gormley, 4/14)
Duluth News Tribune:
Minnesota Senate Approves Plan To Require Transparency In Prescription Drug Price Hikes
The Minnesota Senate on Monday, April 20, approved a proposal to require prescription drug manufacturers to explain why they hiked prices of their drugs. The move aimed at preventing companies from increasing prices with little or no reason comes after more than a year of negotiation between a bipartisan coalition of state lawmakers, patient advocacy groups, doctors, pharmacists, drug manufacturers and others. The bill moves next to the Minnesota House of Representatives for consideration after the Senate approved it on a 63-2 vote. (Ferguson, 4/20)
