Morning Briefing
Summaries of health policy coverage from major news organizations
Drug Companies To Pour $100M Into Battle Against California's Price Control Ballot Initiative
Politico: Drug Makers Spend Big To Fight California Price Control Referendum
Donald Trump and Hillary Clinton give drug makers the jitters when they talk about Medicare negotiating the prices of prescription drugs. But the biggest near-term threat to the industry comes from a California ballot initiative that would test a version of that idea in the most populous state. That ballot initiative “is a grenade being rolled into the conversation, and it is being taken very seriously,” says a Republican drug lobbyist in Washington, D.C. (Cook and Karlin-Smith, 4/25)
The Wall Street Journal: Big Pharma Gets Solace From Europe
Are the transatlantic tables turning in pharma Switzerland’s Novartis said this past week that it was seeing faster uptake of heart-failure drug Entresto in Europe than in the U.S. The potential blockbuster has struggled: It sold just $17 million in the first quarter, with Novartis guiding to $200 million for the year, well below forecasts. With heightened focus on the burden of high U.S. drug prices, Novartis said it got a better reception in Europe’s single-payer system than in the U.S. for its value-for-money pitch for Entresto, which helps to reduce hospitalizations. (Thomas, 4/24)
Reuters: Novartis Could Refuel M&A Machine With $14 Billion Roche Stake Sale
Novartis is discussing options with banks for selling its near $14 billion stake in rival Roche, potentially providing cash for new deals, though a sale is not imminent, according to two people familiar with the situation. (Hirschler and Franklin, 4/25)
