Morning Briefing
Summaries of health policy coverage from major news organizations
Suitors Sniff Around Biogen In Sign Of Pharma's Hunger For New Growth Sources
The Wall Street Journal: Biogen Draws Takeover Interest From Rival Drugmakers
Biotechnology giant Biogen Inc. has drawn takeover interest from drug companies including Merck & Co. and Allergan PLC, raising the possibility of another huge deal in the health-care industry. Merck and Allergan have each sounded out Biogen on the possibility of a takeover, people familiar with the matter said. The communications were informal and preliminary, and they may not result in a deal—in part because Biogen may not be interested, they added. (Mattioli, Rockoff and Cimilluca, 8/2)
The Wall Street Journal: Pfizer’s Results Beat Expectations
Pfizer Inc. said profit fell by 23% in its latest quarter as sales of its older products declined, though the drugmaker’s results came in better than Wall Street expected and the company reaffirmed its forecast for this year’s overall performance. The company also said it set aside $486 million this year to settle lawsuits related to its painkilling drugs Celebrex and Bextra. Those suits accused Pfizer of covering up negative side effects of the drugs. (Rockoff and Hufford, 8/2)
Stat: Researchers Press American Psychiatric Association To Retract A Study
More than a decade ago, a published study touted the benefits of using the Celexa antidepressant to treat children and teens. A recent analysis, however, alleged the study had numerous problems — notably, there was no difference between the drug and a placebo. And so, the researchers and several other academics want the medical society and the journal that published the study to issue a retraction. (Silverman, 8/2)
Stat: Q&A: Glaxo Exec Says Bioelectronics Venture With Verily Is ‘Not Science Fiction’
On Monday morning, GlaxoSmithKline and Verily Life Sciences, which is owned by Google’s parent, Alphabet, formed a new company that will fight diseases by targeting electrical signals in the body. The companies will collectively invest $715 million in the gambit, which will be called Galvani Bioelectronics, and they hope to win approval for their implantable devices several years from now. But a lot must happen first. We spoke with Moncef Slaoui, who heads Glaxo’s vaccine business and will chair the new entity, about his hopes for making devices that will act like medicines. “It’s not science fiction,” he tells us. “And it’s progressing quite well.” This is an edited version of our conversation. (Silverman, 8/10)
For more drug pricing news, check out our weekly feature, Prescription Drug Watch, which includes coverage and perspectives of the issue.
