Top of the morning to you, and a fine one it is. Cool breezes and clear blue skies – at least for now – are wafting above the Pharmalot campus, where the official mascots are settling in for a well-deserved snooze. As for us, we are busy with the usual sorts of things. We are quaffing another cup of stimulation – our choice today is gingerbread – are attempting to get organized, a Quixotic notion in our world. Nonetheless, we are giving it a go. Hopefully, you will be a beneficiary, since we have assembled a few items of interest to help you start your own day. On that note, we hope all goes well and that you conquer the world. And of course, do keep in touch…
This week, the U.S. Food and Drug Administration is expected to approve what many scientists and doctors believe is the first drug to show promise of slowing the progression of Alzheimer’s disease. But while patient advocates are celebrating, critics see it as the unfortunate triumph of a flawed theory of the disease’s cause and predict the rollout of the drug will aggravate racial disparities in elder care, KFF Health News explains. Some say any positive impact from the drug will not benefit lower-income patients, who tend to be diagnosed too late for the drug to be effective, and usually receive care in settings ill-equipped to handle the drug’s stringent requirements.
Drugmakers are asking the U.S. Supreme Court to vacate a ruling that allowed a lawsuit over their alleged financial ties to a series of terrorist attacks, Bloomberg News reports. The petitioners are 21 companies from five corporate families — AstraZeneca, GE Healthcare Technologies, Johnson & Johnson, Pfizer. and Roche. The plaintiffs — victims of the attacks and family members — said that the companies violated the Anti-Terrorism Act, which recognizes a private right of action for U.S. nationals injured by acts of international terrorism. The drugmakers financially supported an Iraqi group that was responsible for attacks.
Advertisements eviscerating and glorifying pharmacy benefit managers have been around for years, but have intensified over the past three months as Congress scrutinizes the role these middlemen play in shaping high prescription drug prices, STAT tells us. On one side is the Pharmaceutical Care Management Association, the trade association representing pharmacy benefit managers, which argues that pharmaceutical companies are responsible for high drug prices. On the other side is PhRMA, the trade group for brand-name drugmakers, which points the finger right back, saying that pharmacy benefit managers are really to blame.
The number of layoffs in the U.S. pharmaceutical industry rose slightly last month, as another 388 jobs were eliminated, according to Challenger, Gray & Christmas, the outplacement and executive coaching firm. By comparison, the number of layoffs in May was 333. But overall, the industry is shedding jobs at a prodigious rate. So far this year, 5,084 positions have been shed, vastly outpacing the 1,692 jobs that were cut during the first six months of 2022. Although the rising numbers can be attributed to various factors, one key reason is the growing difficulty many smaller companies face raising capital.
Teva Pharmaceutical is weighing options for its active pharmaceutical ingredients business, including a possible sale, Bloomberg News reports. The Israeli company is working with advisers as it seeks to gauge interest in the API unit from potential buyers and sources say a deal could value the business at about $2 billion. The business comprises more than 400 APIs used in drugs to treat everything from migraines to diabetes, and employs over 5,000 staff. Teva’s new chief executive officer, Richard Francis, announced a plan in May to cut back manufacturing of certain generic treatments because of low profitability and instead focus on more innovative products.
The U.S. National Institutes of Health late last month halted further funding for a pair of malaria research facilities in Colombia after authorities filed charges against the operators for lacking permits to experiment on monkeys and causing “harm to wildlife,” STAT reports. The move came more than six months after the People for the Ethical Treatment of Animals notified both the U.S. agency and Colombian authorities of problems at the Caucaseco Scientific Research Center and the Malaria Vaccine Development Center. Both are run by a husband-and-wife team that has received more than $17 million in NIH funding since 2003, according to the animal rights group.
Moderna started the application process to get an approval for its respiratory syncytial virus (RSV) vaccine in older adults with regulators in the United States, Australia, and Europe, Reuters notes. The company said it had started rolling submission of data for the shot with the FDA and is aiming to be the third vaccine maker to get an approval in the country after GSK and Pfizer. The RSV vaccine is one of the key products in Moderna’s pipeline that is expected to help revive sales for the company next year as it transitions from a possible net loss this year. The company hopes to launch the product in the U.S. in 2024.
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