Morning Briefing
Summaries of health policy coverage from major news organizations
Gilead's Costly Hep C Drugs Continue To Rack Up Profits
The New York Times: Gilead Hepatitis Drugs Brought In $4.55 Billion In First Quarter
Sales of Gilead Sciences’ drugs to treat hepatitis C reached $4.55 billion in the first quarter, far exceeding already lofty Wall Street expectations but likely to focus attention once again on the overall costs to the health care system of the medicines. (Pollack, 4/30)
The Wall Street Journal: Cigna Results Top Expectations
Cigna Corp. reported better-than-expected revenue and profit growth in its first quarter, as the health insurer benefited from higher premiums and fees. Shares, up 23.1% this year, gained 0.3% in premarket trading. The company also increased outlook on a key earnings metric for the year. (Dulaney, 4/30)
The Wall Street Journal: HealthSouth Profit Falls 9% On Bad Debt Provision
HealthSouth Corp. said Thursday its first-quarter earnings fell 9% on an increase in the company’s bad-debt provision and litigation-related expenses that offset revenue growth that was mostly fueled by a recent acquisition. Birmingham, Ala.-based HealthSouth operates inpatient rehabilitation hospitals, which serve patients recovering from serious conditions such as stroke, cardiac conditions and brain injuries. (Stynes, 4/30)
The Associated Press: Assurant Selling Or Closing Health Insurance Division
The parent company of Assurant Health said it will sell or shut down the insurer, which has struggled financially since the introduction of the federal Affordable Care Act. Assurant Health, headquartered in Milwaukee, is expected to report an operating loss of up to $90 million in the first quarter following a loss of $64 million last year. The company specializes in health insurance for small employers and individuals. (4/30)
