White House Steps Up Enforcement Of Rules For Pharma Ads On TV, Online
On Tuesday, President Donald Trump signed an executive action to crack down on misleading ads. Separately, 340B Drug Pricing Program spending grew 565% from 2010 to 2021, according to a new report from the nonpartisan Congressional Budget Office. Also: Novo Nordisk is cutting 9,000 jobs.
The Wall Street Journal:
Trump Executive Action Cracks Down On Pharmaceutical Ads
President Trump on Tuesday signed an executive action calling for stepped-up federal enforcement of rules for pharmaceutical ads. Here’s what to know: In conjunction with the action, the Food and Drug Administration said it is sending thousands of enforcement letters to drugmakers related to misleading ads. In addition, the Department of Health and Human Services is planning to close what the administration sees as a loophole allowing certain broadcast ads to give abbreviated descriptions of drug side effects. (Essley Whyte, Andrews and Lukpat, 9/9)
On the high cost of prescription medication —
Modern Healthcare:
340B Drug Spending Rose 565% From 2010-2021, CBO Reports
Spending on prescription medications under the 340B Drug Pricing Program grew more than sixfold from 2010 to 2021, according to a report the nonpartisan Congressional Budget Office published Tuesday. Safety-net providers participating in 340B spent $43.9 billion on covered drugs in 2021, a 565% increase from $6.6 billion in 2010, the legislative branch agency reported. The findings are limited to the 90% of 340B providers that use the Health Resources and Services Administration’s Prime Vendor Program. (Early, 9/9)
FiercePharma:
Novo, Lilly Obesity Meds 'Highly Cost-Effective': Watchdog Report
Amid a yearslong wave of enthusiasm and uptake for Eli Lilly and Novo Nordisk's blockbuster obesity medicines, the drugs have scored a strong endorsement from an independent U.S. cost watchdog. In a draft report (PDF), the Institute for Clinical and Economic Review (ICER) determined the drugs are "highly cost-effective" because of their ability to help patients lose weight, reduce metabolic risk factors and address obesity-related health complications. The group specifically looked at Novo's injectable semaglutide at the 2.4-mg dose, Novo's investigational oral semaglutide 25-mg dose and Lilly's injectable 15-mg dose of tirzepatide. (Sagonowsky, 9/9)
In other pharmaceutical developments —
AP:
Novo Nordisk, Maker Of Obesity Drug Wegovy, To Cut 9,000 Jobs To Sharpen Focus, Meet Competition
Danish pharmaceutical company Novo Nordisk, maker of weight-loss drug Wegovy, said Wednesday it would cut 9,000 jobs, 5,000 of them in Denmark, in order to strengthen the company’s focus on growth opportunities in obesity and diabetes medications. The restructuring, which would eliminate 11% of the company’s workforce, aimed to reduce organizational complexity and speed up decision-making as the company faces a more competitive market for obesity drugs. (9/10)
Bloomberg:
Hims To Launch New Offerings For Men With Low Testosterone
Hims & Hers Health Inc. plans to launch offerings for men with low testosterone on Wednesday, marking the telehealth company’s long-awaited move into the fast-growing hormonal health category. The offerings expand Hims’ core sexual health franchise amid a slowdown in weight-loss drug sales that has dragged on its stock price in recent months. (Muller, 9/10)
