Morning Briefing
Summaries of health policy coverage from major news organizations
Pharma Stocks Skyrocket Along With Coronavirus Fears
CNN: Pharmaceutical Stocks Spike After China Reports New Coronavirus Cases
Chinese pharmaceutical stocks skyrocketed Monday as China reported more than 100 new cases of pneumonia caused by a new strain of coronavirus. A major stock index in China that mainly tracks healthcare and IT companies closed at its highest level in three years. The ChiNext Price Index jumped 2.6% to its highest finish since January 2017. (He, 1/20)
Bloomberg: Investors, Product Sellers Look To Profit From Virus In China
Investors are piling into shares of some health-product companies they believe could benefit from the new coronavirus in China. Some mainland pharmaceutical companies which said they’ve developed kits for detecting the virus saw their stocks jump by the daily limit Tuesday in China as worries build about the ailment’s spread. Japanese firms in the protection-gear, air cleaning-equipment and emergency-transport sectors rose more than 10% while Malaysian rubber-glove producers climbed at least 5%. (1/21)
Bloomberg: China’s Biggest Round Of Drug Price Cuts Crowds Out Global Firms
China’s biggest-ever round of drug price cuts saw global drugmakers losing most of the nationwide contracts to local rivals, as Beijing aggressively pushes to contain health care costs by an average of 53% decline in latest bulk purchase. (1/16)
Stat: As Prescribing For ADHD Drugs Rose, So Did Industry Payments To Doctors
At the same time that more doctors were prescribing stimulants, a new analysis finds that 1 in 18 U.S. physicians received some form of payment from drug companies that were marketing these medicines, notably ADHD pills often prescribed for children. And the researchers suggested the financial ties may have partly contributed to the rise in prescriptions. Between 2013 and 2018, nearly 592,000 payments totaling more than $20 million were made to physicians who prescribed stimulants, according to the analysis in JAMA Pediatrics, which reviewed a database run by the U.S. government. Overall, about 55,000 pediatricians, psychiatrists, and family doctors received food, travel expenses, consulting and speaking fees, or other payments. (Silverman, 1/21)
NPR: Generic Version Of Pricey MS Treatment Didn't Reduce Drug Costs Much For Patients
Sometimes, the approval of a new generic drug offers more hype than hope for patients' wallets, as people with multiple sclerosis know all too well. New research shows just how little the introduction of a generic version of Copaxone — one of the most popular MS drugs — did to lower their medicine costs. MS is an autoimmune disease that gradually damages the central nervous system, disrupting communication between the brain and the rest of the body. (Lupkin, 1/20)
CNBC: Amazon Files Trademarks For 'Amazon Pharmacy' In UK, Australia, Canada
Amazon has filed to trademark “Amazon Pharmacy” in Canada, the U.K. and Australia, signaling a potential move into selling prescription drugs outside of the U.S. According to the Canadian Intellectual Property Office website, Amazon filed for the patent on Jan. 9, 2020. The status is listed as pre-formalized. The trademark also lists other areas that Amazon Pharmacy could move into including surgical, medical dental instruments and pharmaceutical as well as medical and veterinary preparations. (Farr, 1/21)
The CT Mirror: Senate Democrats To Tackle Drug Prices, Revive Public Option In Upcoming Session
Senate Democratic leaders on Tuesday unveiled their health care reform agenda for the legislative session that begins next month, saying they would aim to cap the price of insulin, limit the cost of other prescription drugs and extend certain types of insurance coverage to people aged 26. (Carlesso, 1/21)
Stat: ‘A Tragedy Of The Commons’: How A VC Wants To Lower Drug Prices
A venture capitalist made some waves early in the J.P. Morgan Healthcare Conference when he announced his new company’s mission is to make medicines less expensive. After all, two of his previous investments have fueled drug makers using genetics to treat cancer — the kind of approach that has produced remarkable outcomes but also driven up the price of drugs. Alexis Borisy, known for co-founding Foundation Medicine and Blueprint Medicines and wearing felt fedoras, seeks to bring down prices at his new company, called EQRx. (Feuerstein and Herper, 1/17)
Stat: Airing Frustrations With Pharma, A Republican FTC Commissioner Just Endorsed Medicare Negotiation
A Republican member of the Federal Trade Commission on Thursday expressed support for allowing Medicare to directly negotiate the price of prescription medicines, a noteworthy break from GOP orthodoxy from a Trump administration appointee. The remarks from Christine Wilson, a business executive who President Trump appointed to the FTC in 2018, come as Washington remains split on how to tackle high drug prices and whether to allow Medicare to negotiate directly. (Facher, 1/16)
Stat: Former Rep. Chris Collins Sentenced To 26 Months In Prison In Biotech Insider Trading Scheme
Chris Collins, a former Republican lawmaker and longtime ally of President Trump, was sentenced Friday to 26 months in prison, according to local reporters, months after pleading guilty to insider trading for illegal dealings surrounding an Australian biotech company. Collins, who leaked confidential information about a failed drug trial to his son and other associates, resigned his seat in Congress in October after entering a guilty plea. His sentencing caps a three-year saga that also implicated his family, at least four fellow congressmen, and Trump’s onetime health secretary. All have been dogged by allegations that they acted unethically, and in some cases illegally, when they purchased or sold shares of Innate Immunotherapeutics. (Garde and Facher, 1/17)
Westword: Colorado Lawmakers Want More Transparency On Drug Prices
Colorado legislators may write the laws that govern the state's health-care system, but they’re not immune from the economic forces that have driven up its costs — a reality that Representative Dominique Jackson, a Democrat from Aurora, got a harsh reminder of last year. “Toward the end of last session, I logged in to my mail-order pharmacy to reorder some prescriptions,” Jackson said during a press conference at State Capitol on Tuesday, January 21. (Woodruff, 1/21)
