Illegal Supply Network Accused Of Selling Fake Gilead HIV Drugs
Meanwhile, Stat reports that low-cost biosimilar drug provision in the U.S. is being stymied by a "thicket" of patents. Other drug company news includes Bristol Myers Squibb plans, a $3 billion biotech fund aimed at disease "reversal," and big data's failure to combat covid.
The Wall Street Journal:
Drugmaker Gilead Alleges Counterfeiting Ring Sold Its HIV Drugs
Drugmaker Gilead Sciences Inc. said that a network of little-known drug suppliers and distributors sold illicit and potentially dangerous fake versions of its HIV medicines that ended up in pharmacies and in the hands of patients. In all, Gilead identified 85,247 counterfeit bottles of its branded medications worth more than $250 million that were sold to pharmacies over the past two years following an intensive investigation and court-approved civil seizures, a company spokesman said. (Walker and Ramey, 1/18)
In other pharma and biotech news —
Stat:
Study: Patent Thickets Thwart U.S. Availability Of Lower-Cost Biosimilars
Amid debate over competition in the pharmaceutical industry, a new analysis found just 6% of patents covered key ingredients — or innovative new molecules — in pricey biologic medicines, underscoring concerns that drug makers abuse the patent system when they go to court to thwart rivals. The researchers examined 21 patent infringement lawsuits filed by pharmaceutical companies against other drug makers and identified 179 patents that were allegedly infringed. But most were for so-called secondary uses, or less critical than uses listed in primary patents. For instance, 42% covered manufacturing processes, 35% covered other ways to use a medicine, and 34% covered formulations. (Silverman, 1/18)
Stat:
Bristol CEO Giovanni Caforio On New Drug Launches, Acquisitions In 2022
Later this year, Bristol Myers Squibb will begin to lose billions of dollars in revenue when generic versions of its top-selling cancer drug Revlimid become available. But with six recent drug launches and another three drugs heading for the market this year, Bristol expects to offset the lost Revlimid revenue and continue to grow through the end of the decade. Fresh off a presentation at the J.P. Morgan Healthcare Conference, Bristol CEO Giovanni Caforio sat down with STAT last week to discuss his company’s outlook and plans for more business development, including acquisitions. (Feuerstein, 1/18)
Stat:
With $3B, Biotech Veterans Launch Company Aimed At Disease ‘Reversal’
A team of biotech veterans say they have raised $3 billion to create a continent-spanning company that will aim to battle disease by reprogramming the fundamental machinery of living cells. It appears to be the largest venture capital fundraising effort in biotech history, based on a survey of data from Pitchbook. (Herper, 1/19)
Stat:
Why Big Data Didn't Deliver On Its Big Promises To Combat Covid-19
When the pandemic hit, technology companies pledged to do their part by cracking open their secretive datasets and letting public health researchers mine it for clues about how to bring Covid-19 under control. Two years in, it’s clear that big data isn’t the panacea they’d hoped for. (Palmer, 1/18)
In obituaries —
Houston Chronicle:
Dr. C. Thomas Caskey, Medical Center Visionary Who Built Genetics Program At Baylor College Of Medicine, Dies At 83
Dr. C. Thomas Caskey, a pioneering Houston researcher who illuminated mysteries in the human genome and built the genetics program at Baylor College of Medicine, died Thursday. He was 83. Caskey became known for his intellectual generosity and bold ideas when he moved to Baylor College of Medicine in 1971 and founded the Institute for Molecular Genetics, now the Department of Molecular and Human Genetics. He left the college in 1994 but returned as a professor in 2011 to continue his work. (Gill, 1/14)
