FDA Approves Emergent BioSolution’s Anthrax Vaccine For Adults
The drug, Cyfendus, was authorized for use following suspected or confirmed anthrax exposure. The FDA also approved Daiichi Sankyo's blood cancer drug. In other industry news, J&J's finances look healthy, Philip Morris' health care push stumbles, private equity's impact on health costs, and more.
Reuters:
US FDA Approves Emergent BioSolutions' Anthrax Vaccine
Emergent BioSolutions said on Thursday the U.S. Food and Drug Administration has approved its anthrax vaccine for use in adults aged 18 through 65. The vaccine, Cyfendus, has been approved for use following suspected or confirmed exposure to a type of bacteria and has to be administered together with antibacterial drugs. (7/20)
Reuters:
Japan's Daiichi Sankyo Gets US FDA Nod For Blood Cancer Treatment
Daiichi Sankyo said the U.S. health regulator has approved its drug for treating newly diagnosed patients suffering from an aggressive type of blood cancer, pitting the treatment against those from rivals Novartis and Astellas. (Roy, 7/20)
On other health industry news —
The Wall Street Journal:
Surge In Heart Procedures Helps Drive Johnson & Johnson Revenue
A surge in heart procedures and higher demand for cold and flu medicines helped Johnson & Johnson report solid gains in revenue and profit for the second quarter. (Loftus, 7/20)
Reuters:
J&J Spinoff Kenvue Forecasts Upbeat Annual Profit On Self-Care Boost
Kenvue, the former consumer health unit of Johnson & Johnson, forecast full-year profit above Wall Street estimates on Thursday, betting on resilient demand for its skincare and self-care products such as Neutrogena and Tylenol. (Mahobe and Mariam Rajesh, 7/20)
Reuters:
Abbott's Strong Medical Device Sales Drive Upbeat Quarter As Surgeries Rebound
Abbott Laboratories on Thursday beat quarterly profit expectations as a rebound in surgical procedure volumes drove demand for medical devices despite high inflation-driven costs, sending shares up by nearly 4%. Demand for medical devices and non-COVID-19 testing is expected to rise this year, as older adults in particular get more comfortable visiting hospitals and staffing shortages at those facilities ease. (Mandowara and Jain, 7/20)
Chicago Tribune:
Abbott’s COVID-19 Test Sales Dive By Nearly 90%
Abbott Laboratories’ sales of COVID-19 tests fell by a whopping 89% during the second quarter of this year compared with the same time last year — a drop that comes as the world attempts to move on from the pandemic. North suburban-based Abbott makes the once popular rapid, at-home COVID-19 test BinaxNOW. From April through June, Abbott sold $263 million worth of COVID-19 tests, compared with $2.3 billion during the same time last year. (Schencker, 7/20)
Bloomberg:
Philip Morris Abandons $1 Billion Target For Healthcare Business
Philip Morris International Inc. abandoned a goal to get at least $1 billion of revenue from healthcare and wellness products next year following setbacks at companies it has acquired in the sector. (Mulier and Hoffman, 7/20)
Also —
Stat:
Extensive Review Finds Private Equity Owners Jack Up Cost Of Care
Private equity firms are rapidly buying their way into the U.S. health care system, and as they do, new research finds they tend to increase costs and may also harm quality. (Bannow, 7/20)
The Boston Globe:
Boston Medical Center Residents Rally For Better Wages
More than two hundred Boston Medical Center resident physicians rallied Thursday afternoon, following three months of negotiations with BMC calling for a fairer contract with higher wages and core benefits. The crowd of residents gathered outside BMC, chanting slogans like “No contract, no peace!” and “What do we want? A living wage! When do we want it? Now!” Residents carried navy blue signs with messages like: “BMC is for everyone. Residency should be, too.” (Raza, 7/20)
KFF Health News:
Doctors Created A Primary Care Clinic As Their Former Hospital Struggled
About a year ago, Valory Wangler, a family medicine doctor, invited a handful of former co-workers to her backyard. During the early months of the covid-19 outbreak, Wangler and her colleagues had worked at a hospital in this former railroad hub of about 21,000 residents just a few miles from the Navajo Nation. The pandemic had been hard on Rehoboth McKinley Christian Hospital. Emergency federal funding was drying up and nearly a third of the staff — including Wangler, the chief medical officer — left after its board of trustees hired an out-of-state, for-profit management services firm to take over operations in August 2020. (Nowell, 7/21)
