Morning Briefing
Summaries of health policy coverage from major news organizations
New Oral Heart Disease Drug Gains FDA Approval
The Wall Street Journal: FDA Approves New Bristol-Myers Drug For Common Inherited Heart Disease
The disease, called hypertrophic cardiomyopathy, or HCM, causes the heart muscles to thicken excessively and make it difficult for the organ to pump blood. The condition affects about 1 in 500 people. It is the most common cause of sudden cardiac death in young people, including athletes, though it is rare. The new drug, which carries the chemical name mavacamten and which Bristol will market as Camzyos, was the centerpiece of the company’s $13.1 billion acquisition of MyoKardia in 2020. Bristol is counting on sales to help offset several upcoming patent expirations for key products. (Hopkins, 4/28)
Reuters: FDA Approves Bristol Myers' Oral Heart Disease Drug
Bristol Myers Squibb said on Thursday the U.S. Food and Drug Administration (FDA) approved its oral heart disease drug Mavacamten, making it the first cardiac myosin inhibitor to be permitted for use in the country. Mavacamten, which Bristol Myers acquired in its $13 billion buyout of MyoKardia in 2020, will be used in the treatment of adults with symptomatic New York Heart Association (NYHA) class II-III obstructive hypertrophic cardiomyopathy. (4/29)
On AstraZeneca —
Reuters: AstraZeneca COVID Vaccine Sales Top Estimates, Keeps Overall 2022 Forecasts
AstraZeneca (AZN.L) on Friday beat first-quarter sales and profit expectations, helped by higher than expected sales of its COVID-19 vaccine, a product the company has forecast will see a sharp decline over the course of the year. The vaccine recorded $1.15 billion in sales in the quarter, the majority of which came from initial contracts, but that number eclipsed consensus analyst expectations of $739 million, cited by Credit Suisse. (Aripaka and Grover, 4/29)
The Boston Globe: AstraZeneca To Open Major Research Center In Kendall Square
Pharmaceutical giant AstraZeneca said Friday that it will open a major research center in Cambridge’s Kendall Square, the heart of the region’s biotech industry. The British drugmaker will move about 1,500 employees into a building that is expected to open in early 2026, with room for significant growth, the company said. The 570,000-square-foot facility, on the site of the Kendall Center Blue Garage at 290 Binney St., is part of a recently announced plan by developer Boston Properties to build two 16-story lab and office buildings along with a 38-floor residential tower, which will be Cambridge’s tallest building. AstraZeneca will occupy space in one of the 16-story buildings. (Cross, 4/29)
In other industry news —
Crain's Chicago Business: Baxter's Revenues Climb With Acquisition Of Hillrom
Medical products giant Baxter International reported rising revenue in the first quarter coming on the heels of its acquisition of Hillrom. Deerfield-based Baxter saw revenue grow 26% to $3.7 billion in the first quarter, the company announced in an earnings call today. U.S. sales totaled $1.76 billion, a nearly 50% increase from the same period a year earlier, with international sales increasing 10% to $1.95 billion. Net income was $71 million. Baxter’s stock was down slightly on the news this morning, trading at about $70 a share. (Davis, 4/28)
Reuters: Merck Raises 2022 Forecast As COVID Pill, Cancer Drug Fuels Profit Beat
Merck & Co (MRK.N) on Thursday reported quarterly profit and sales that beat estimates and raised its full-year forecasts on strong demand for top-selling cancer drug Keytruda, its Gardasil vaccine and COVID-19 antiviral pill molnupiravir. The U.S. drugmaker's shares rose 1.8% to $85.90 before the opening bell as revenue rose 50% to $15.9 billion, with most of the growth coming from sales of molnupiravir, which was approved in November. (Erman and Mishra, 4/28)
Modern Healthcare: MD Anderson, Community Health Network Partner On Integrated Cancer Program
The University of Texas MD Anderson Cancer Center and Indianapolis-based Community Health Network are partnering on a clinical and research cancer program in central Indiana, the health systems said Thursday. The new program, called Community Health Network MD Anderson Cancer Center, will give Community physicians access to MD Anderson experts for peer-to-peer consultations and patients access to innovative cancer treatments, clinical trials and research studies, according to the press release. The new partnership is MD Anderson's first in six years. (Abrams, 4/28)
Reuters: WHO-Backed Vaccine Resolution Wins 24% Support At Moderna
A shareholder proposal calling on Moderna Inc (MRNA.O) to study transferring production of COVID-19 vaccines to less-developed countries won 24% support from investors on Thursday after it received a rare endorsement from the World Health Organization. Proponents say production shifts could help combat the global pandemic. Moderna of Cambridge, Mass. opposed the measure, saying among other things it already maximized its manufacturing capacity with partners, and that poorer countries have declined millions of doses that Moderna was prepared to deliver. (Kerber, 4/29)
The Wall Street Journal: Shareholder Proposals To Broaden Access To Covid-19 Vaccines Rejected
Investors in three Covid-19 vaccine makers on Thursday rejected shareholder proposals aimed at broadening global access to the shots. Pfizer Inc., PFE 1.55% Moderna Inc. MRNA 0.06% and Johnson & Johnson JNJ 0.75% had opposed the proposals, saying they already had taken steps to expand access to their vaccines in poorer countries. Shareholders at Pfizer and Moderna voted against similar resolutions, which asked each company to study the feasibility of transferring technical know-how and patents to allow other manufacturers to produce Covid-19 vaccine doses for low- and middle-income countries. (Loftus, 4/28)
And —
KHN: At US Hospitals, A Drug Mix-Up Is Just A Few Keystrokes Away
More than four years ago, Tennessee nurse RaDonda Vaught typed two letters into a hospital’s computerized medication cabinet, selected the wrong drug from the search results, and gave a patient a fatal dose. Vaught was prosecuted this year in an extremely rare criminal trial for a medical mistake, but the drug mix-up at the center of her case is anything but rare. Computerized cabinets have become nearly ubiquitous in modern health care, and the technological vulnerability that made Vaught’s error possible persists in many U.S. hospitals. (Kelman, 4/29)
