Worries Grow of Antibiotic Shortages
In other pharma news, 23andMe's database is used in cancer drug development and Kodak shareholders get a windfall after federal government pumps $765 million into a largely moribund company.
PBS NewsHour:
As A Virus Ravages The World, Antibiotic Makers Are In Disarray
COVID-19 can be accompanied by secondary bacterial infections with deadly consequences. But the industry that researches and produces antibiotics to fight such illnesses has been upended — and the pandemic is only making things worse. Now, medical experts worry about the long-term health implications of not having cutting-edge antibiotics in the pharmaceutical pipeline. (Solman, 7/29)
Stat:
Cancer Drug Is First Therapy To Emerge From 23andMe-GSK Deal
The pharmaceutical giant GlaxoSmithKline is starting human trials of the first medicine, a cancer drug, that has emerged from its two-year-old collaboration with consumer genetics firm 23andMe. The novel partnership focuses on using 23andMe’s massive genetic database, composed of the test results and self-reported health data from 12 million consumers who have taken its tests to learn about their ancestry and a smattering of disease-related genes, and who have said their samples could be used in research. (Herper, 7/29)
The Hill:
Kodak Shares Soar 500 Percent After Federal Government Loan For Drug Manufacturing
Shares of Eastman Kodak soared early Wednesday after the federal government announced that the iconic camera maker would receive a loan to open pharmaceutical factories in the U.S. Kodak stock rose as much as 500 percent on Wednesday, forcing the New York Stock Exchange to halt trading of the company’s shares several times after they vaulted from $8 to as high as $53. The share price dropped back down to roughly $20 shortly before 11 a.m. (Lane, 7/29)
In legislative and legal news —
Stat:
Lawmakers In Two States Release Bills To Ban Most Gifts To Doctors
Over the past month, lawmakers in two states have introduced bills that would ban drug makers from giving most gifts to doctors, although they are responding to different hot-button issues that continue to vex Americans: the rising cost of prescription medicines and the ongoing opioid crisis. In Michigan, state Rep. Douglas Wozniak, who sponsored the legislation, complained that drug prices have increased “astronomically” and there is a need to eliminate what he called “exorbitant incentives” that pharmaceutical companies are providing prescribers. His bill is part of a legislative package designed to hold all companies in the “supply chain” accountable for rising costs. (Silverman, 7/29)
Stat:
Lawmakers Urge Watchdog To Probe Federal Role In Remdesivir Research
Amid concerns over access to medicines that were hatched with U.S. taxpayer funds, Democratic lawmakers have asked the Government Accountability Office to investigate the discovery and development of remdesivir, which is the first drug authorized to treat Covid-19. In a letter to the congressional watchdog, the lawmakers argue that the medicine, which is sold by Gilead Sciences (GILD), eventually reached patients thanks, in part, to an estimated $70 million in federal funding and ”key scientific contributions” from U.S. government scientists. (Silverman, 7/28)
Stat:
Drug Maker Settles Charges Of Offering 'Bogus' Research Grants
In the latest imbroglio involving drug makers and kickbacks, Pacira Biosciences (PCRX) has agreed to pay $3.5 million to resolve allegations of paying doctors bogus research grants to persuade them to prescribe its only medicine, the Exparel painkiller, which is used during various surgical procedures. From late 2012 through early 2015, Pacira approved and funded the grants despite receiving little or no documented description of any proposed research and then conducted little to no follow up to ensure the work was being done, according to court documents filed by the Department of Justice. In some cases, grant recipients did not conduct any research, at all. (Silverman, 7/30)