Medicare Says Leqembi Alzheimer’s Drug Will Cost It $3.5 Billion
The figure, Stat reports, is "well beyond" what Wall Street or even its maker Biogen had projected. Meanwhile, the Department of Justice filed a lawsuit accusing Regeneron Pharmaceuticals of Medicare price manipulation for its costly eye disease treatment Eylea.
Stat:
Medicare Estimates $3.5 Billion Cost On Alzheimer's Drug Leqembi
Medicare for the first time has estimated that a new Alzheimer’s treatment could cost the program billions of dollars by next year — well beyond what Wall Street or even the drug’s manufacturer have projected — according to a document obtained by STAT. (Herman and Zhang, 4/11)
Stat:
Justice Dept. Accuses Regeneron Of Manipulating Medicare Pricing
The U.S. Department of Justice filed a lawsuit accusing Regeneron Pharmaceuticals of manipulating Medicare pricing by inflating the average sales price for its expensive and widely prescribed Eylea treatment for serious eye disease. (Silverman, 4/10)
In other pharmaceutical news —
Stat:
Drug Shortages Reached A Record High As 2023 Drew To A Close
The number of ongoing and active drug shortages in the U.S. stood at 323 during the fourth quarter of last year — the highest figure reached since such data began being tracked in 2001 — underscoring growing concerns about patient harm across the country. (Silverman, 4/11)
Stat:
Telehealth Antibiotic Dispensing Fuels Worries Of Antibiotic Resistance
Ho Anh had just started working at Lemonaid Health when he was caught up in a sting. In 2017, after receiving reports about the telehealth site, an investigator for the California medical board logged on to Lemonaid using an alias. “Mark Peters” filled out a brief questionnaire about his imaginary symptoms, and Anh answered in a message: “Mark” likely had a bacterial sinus infection, the doctor said, writing a prescription for 10 days of amoxicillin. (Palmer, 4/11)
Stat:
Vertex To Buy Alpine Immune Sciences For $4.9 Billion
Vertex Pharmaceuticals will buy Alpine Immune Sciences, a maker of protein-based medicines that harness the immune system, for $4.9 billion, the companies announced Wednesday. It is the largest acquisition in Vertex’s history. (Herper and Feuerstein, 4/10)
Modern Healthcare:
Walgreens’ VillageMD Names Jim Murray President, COO
VillageMD selected Jim Murray to serve as president and chief operating officer, effective April 1. Murray is tasked with leading operations, including those of Village Medical, Summit Health and CityMD, for the Walgreens-backed organization, according to a Wednesday news release. (DeSilva, 4/10)
New developments in the global cough syrup scandal —
Reuters:
Nigeria Recalls J&J Children's Cough Syrup Over Toxic Substance
Nigeria's health regulator is recalling a batch of Johnson & Johnson children's cough syrup after finding an unacceptably high level of a potentially fatal toxic substance, it said on Wednesday. Laboratory tests on Benylin Paediatric showed a high level of diethylene glycol, which has been linked to the deaths of dozens of children in Gambia, Uzbekistan and Cameroon since 2022 in one of the world's worst waves of poisoning from oral medication. (4/10)
