Eli Lilly Warns Insulin Products May Be Out Of Stock Through Start Of April
The drugmaker blames what it calls a "brief delay in manufacturing," which is hitting Humalog and insulin lispro injections. Meanwhile, UnitedHealth is set to process $14 billion in backlogged medical claims after its cyberattack.
CNN:
Eli Lilly Warns Of Temporary Short Supply Of Two Insulin Products
Drugmaker Eli Lilly warned this week that two of its formulations of insulin would be temporarily out of stock through the beginning of April, citing a “brief delay in manufacturing.” The 10-milliliter vials of Humalog and insulin lispro injection will be in short supply at wholesalers and some pharmacies, Lilly said in a statement posted online Wednesday. (Tirrell, 3/22)
In other industry news —
Reuters:
UnitedHealth Unit Will Start Processing $14 Billion Medical Claims Backlog After Hack
UnitedHealth Group (UNH.N) said on Friday its Change Healthcare unit will start to process the medical claims backlog of more than $14 billion as it resumes some software services disrupted by a cyberattack last month. The company has been scrambling to resume services at the technology unit that was hit by a cyberattack on Feb. 21, disrupting payments to U.S. doctors and healthcare facilities and forcing the U.S. government to launch a probe. (Leo, 3/22)
Modern Healthcare:
Claim Denials Cost Hospitals $20 Billion In 2022: Premier Report
Hospitals and health systems spend an estimated $19.7 billion a year managing denied claims for care, a new report shows. Premier, a group purchasing and consulting organization that works with thousands of providers, polled 516 hospitals that offered their 2022 claims data. Nearly 15% of claims, on average, were denied at a cost of close to $44 a claim, excluding related clinical labor expenses, the survey found. (Kacik, 3/22)
The Wall Street Journal:
Masimo To Separate Consumer Business
Masimo will look to separate its baby monitor and smart watch businesses, months after the company won its years-long expensive legal battle against Apple over certain features in its watches. The Irvine, Calif.-based medical technology company said Friday that its board had authorized management to evaluate a proposed separation of its consumer business. Masimo expects the separation to include its consumer audio and consumer health products. (Glickman, 3/22)
Modern Healthcare:
Tenet-Leased Facilities Sold To Sila Realty Trust
Five healthcare properties leased by Tenet Healthcare in Arizona and Texas were acquired by Sila Realty Trust Inc. in a $85.5 million deal. The seller was not disclosed. The five facilities operate under local, Tenet-affiliated hospital brands. Tenet does not own any of the acquired properties, a spokesperson for Sila Realty said. (DeSilva, 3/22)
Reuters:
Nursing Home Co. Petersen Health Likely To Break Up In Bankruptcy Sale
Elder care company Petersen Health Care plans to sell its nursing homes to new care providers in bankruptcy, likely dividing its assets among multiple buyers, a company attorney said Friday. Petersen believes that its nursing homes may be worth between $215 million and $305 million, as long as they remain operational and continue to provide a high level of care to residents, Petersen attorney Dan McGuire said at the company’s first court appearance since filing for bankruptcy Wednesday in Wilmington, Delaware. (Knauth, 3/22)
KFF Health News:
After Appalachian Hospitals Merged Into A Monopoly, Their ERs Slowed To A Crawl
In the small Appalachian city of Bristol, Virginia, City Council member Neal Osborne left a meeting on the morning of Jan. 3 and rushed himself to the hospital. Osborne, 36, has Type 1 diabetes. His insulin pump had malfunctioned, and without a steady supply of this essential hormone, Osborne’s blood sugar skyrocketed and his body was shutting down. ... After 12 hours in the waiting room, Osborne said, he was moved to an ER bed, where he stayed until he was sent to the intensive care unit the next day. (Kelman and Liss, 3/25)
CNBC:
Amgen Aims To Enter Weight Loss Drug Market With A New Approach
Amgen is taking a new approach as it tries to stand out in a crowded field of drugmakers racing to develop the next blockbuster weight loss drug. The biotech company is testing an injectable treatment that helps people lose weight differently from the existing injections from Novo Nordisk and Eli Lilly, and other obesity medicines in development. (Constantino, 3/24)
