According to a report that Express Scripts released state legislatures will need to find billions in their budgets to purchase costly new hepatitis C therapy, according to a new state-by-state analysis released today by Express Scripts (NASDAQ: ESRX). But their report is near sighted only looking at the immediate costs of the prescription, instead of the longterm cost stagings this therapy can provide.
(Reuters) – Illinois children and adults with epilepsy will soon be allowed to use marijuana to ease their symptoms under a law signed on Sunday by Democratic Governor Pat Quinn, the latest in a series of measures loosening restrictions on cannabis by U.S. states.
The fervor over American companies merging with overseas rivals to lower their tax rates has drawn the ire of the Obama Administration, possibly imperiling the so-called inversion deals that have become increasingly popular in biopharma.
All those drug makers and investment banks chasing tax inversions now face opposition from the Obama administration. Yesterday, U.S. Treasury Secretary Jacob Lew wrote the House Ways & Means Committee, which composes tax law, to urge immediate legislation that would “shut down this abuse of our tax system.” And he suggests making any law retroactive to May 2014.
With antibiotic resistance on the rise at a time when Big Pharma has largely vacated the risk-heavy field, the President’s Council of Advisors on Science and Technology (PCAST) is proposing a number of recommendations to lure companies back into the arena and help speed up the development of new antibiotics.
Next Friday I will be hosting a roundtable discussion with the Arthritis Foundation, the American Liver Foundation; and the Leukemia and Lymphoma Society on the importance of innovation and patient access to new medicines. It is a free event and I would encourage you to attend. Also there will be an iBIO BBQ immediately following the event.
A new study adds some empirical firepower to the idea that poor patent laws are crushing innovation in the technology industry. Researchers from the London School of Economics studied citations from patents that were invalidated by U.S. judges and found that invalidation increased the number of subsequent innovations in technology, but not in pharmaceuticals.
(Reuters) – An experiment changing how U.S. cancer doctors are compensated cut healthcare costs by a third, with no discernible decline in patient health, according to a three-year study by insurer UnitedHealth Group Inc and five medical oncology groups.