Medicare Says It Will Cover Alzheimer’s Drugs Like Pricey Leqembi
The Centers for Medicare and Medicaid Services announced that it would broadly cover the drugs only after they receive traditional approvals from the FDA. In other industry news, CVS says it will raise prices elsewhere if PBM reforms take effect, and Eli Lilly is now the largest pharmaceutical company in the world by market value.
The Washington Post:
Medicare To Cover Alzheimer’s Drug Class That Includes Leqembi
Medicare officials announced plans Thursday to broadly cover a new class of Alzheimer’s drugs following an intense lobbying campaign by patient advocates and drugmakers pressing for access to the first medications shown to slow cognitive decline from the disease. In a statement, the Centers for Medicare and Medicaid Services, which runs the federal health program for seniors and those with disabilities, said it would cover the costly drugs — a move foreshadowed in previous agency statements — for anyone who was enrolled in the outpatient part of the program who meets the criteria for coverage. (McGinley and Roubein, 6/1)
In other pharmaceutical news —
Stat:
CVS Warns PBM Reforms ‘Could Lead To Higher Costs’
As Congress considers wide-ranging reforms to pharmacy benefit managers, a top executive at CVS Health, which owns one of the largest PBMs in the country, said the company would find ways to maintain its level of profit if those reforms to things like drug rebates went into effect. (Herman, 5/31)
Reuters:
Walmart Is Raising Wages For Pharmacists, Opticians In Healthcare Push
Walmart is raising wages for thousands of U.S. pharmacists and opticians, the retailer said on Wednesday, part of its broader plan to expand primary care services across the country. The Bentonville, Arkansas-based chain said about 3,700 pharmacists would get a bump in pay starting on Wednesday, bringing their total annual average pay to more than $140,000, excluding bonuses and incentives. More than 4,000 opticians will also receive fatter paychecks, with their average hourly pay rising to more than $22.50 with this investment, Walmart executives wrote in a blog post. (Cavale, 5/31)
Bloomberg:
Obesity Shot Frenzy Makes Eli Lilly World’s Most Valuable Drugmaker
Eli Lilly & Co.’s third straight month of gains has helped it become the largest pharmaceutical company in the world by market value, surpassing Johnson & Johnson. (Adegbesan and Langreth, 5/31)
Reuters:
J&J Faces New Trial Over Talc Cancer Claims, Amid Settlement Push
Johnson & Johnson on Wednesday faced the first trial in almost two years over claims that asbestos in its baby powder and other talc products causes cancer, as it seeks to settle thousands of similar cases in bankruptcy court. Emory Hernandez, 24, says he developed mesothelioma, a deadly cancer, in the tissue around his heart as a result of exposure to J&J's talc products beginning when he was a baby. The company has denied that its talc contains asbestos, which is linked to mesothelioma, or causes cancer. (Pierson, 5/31)
Axios:
FDA Proposes Easy-To-Read Drug Package Inserts
The Food and Drug Administration on Tuesday proposed overhauling the paper inserts that come with prescription drugs so that risks and safety information are summarized on a single page. The agency said existing medication guides, or patient package inserts, can be cumbersome and confusing and lead patients to stop taking their drugs, or not take them as directed. (Bettelheim, 5/31)
