AMA Argues Weight-Loss Drugs Should Be Covered By Insurers
Fear of the treatments' costs is preventing insurers, employers, and government programs from covering obesity treatments, Stat says. Also in the news: Elevance Health, Cigna Group, psychedelic drug startup Filament, and more.
Stat:
Weight Loss Drugs Should Be Covered By Insurers, AMA Says
The American Medical Association called on insurance companies, employers, and government programs to cover obesity treatments even as many remain reluctant to pay for them, fearing the costs of covering the drugs at a mass scale. (Trang and Chen, 11/13)
In other pharmaceutical industry news —
Reuters:
Elevance, Cigna Settle Contract Claims, Clearing Way For Appeal In $14.8 Bln Suit
Elevance Health and Cigna Group's Express Scripts unit on Monday settled the last pending claim in a long-running contract dispute, clearing the way for Elevance to appeal the dismissal of its $14.8 billion lawsuit accusing Express Scripts of overcharging it for prescription drugs. Elevance, formerly called Anthem, had sued Express Scripts, a pharmacy benefit manager, in Manhattan federal court in 2016, accusing it of failing to negotiate over drug prices in good faith under a 10-year contract that began in 2009. Elevance said it was entitled to $14.8 billion in damages as a result of the breach. (Pierson, 11/13)
Stat:
Michigan Bill That Would Pare Back Pharma Shield Law Advances
A one-of-a-kind law in Michigan that prevents the state government and residents from suing pharmaceutical companies over injuries caused by their medicines is poised to be pared back. A bill designed to allow product liability lawsuits to be filed against drug companies passed the Michigan Senate last month and then passed the House last week. The legislation, which won overwhelming majorities in both chambers but was opposed by the Michigan Chamber of Commerce and a pharmaceutical industry trade group, now goes to Gov. Gretchen Whitmer. (Silverman, 11/13)
AP:
In Crowded Field Of Psychedelic Startups, Filament CEO Makes Case For 'Natural' Drugs
A recent boom in psychedelic research has given way to a bumper crop of startups seeking to harness the potential of mind-altering drugs for treating depression, addiction and other conditions. In this crowded field, Vancouver-based Filament Health has a unique approach: extracting drugs like psilocybin and mescaline from natural sources, including mushrooms and cacti, rather than synthesizing the ingredients in a laboratory. (Perrone, 11/13)
Bloomberg:
Race For First Drug Discovered By AI Nears Key Milestone
The global push to use artificial intelligence to find new medicines faces a crucial test as one front-runner starts approaching late-stage trials for a drug discovered by algorithms. Insilico Medicine — which has headquarters in Hong Kong and New York — used AI to develop an experimental drug for the incurable lung disease idiopathic pulmonary fibrosis. The treatment is in mid-stage trials in the US and China with some results expected early 2025. (Matsuyama, 11/13)
