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☆ This startup is opening a mental health clinic that offers ketamine therapy. We got an exclusive look at the pitch deck it used to raise $5.4 million.
▼ + stars: | 2024-01-25 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +5 min

Read previewVenture investment in mental health startups exploded in 2021. Being Health, an integrated mental healthcare company, is opening its first location, located in Manhattan's Financial District. Services like ketamine infusions and acupuncture will have to be administered in person, but others, like nutrition counseling, will have a virtual option, Sharma said. "When it comes to this novel approach to addressing mental health, you can't do that with telehealth." See the 17-slide pitch deck mental health startup Being Health used to raise $5.4 million in seed funding.

Persons: —, Allie Sharma's, Sharma, Janssen, Haim Dabah, Dabah Organizations: Service, Business, Financial, HDS, FDA, Janssen Pharmaceuticals, Being Health, Services, HDS Capital Locations: New York, New York City

CAPE TOWN, South Africa (AP) — U.S.-based pharmaceuticals company Johnson & Johnson is being investigated in South Africa for allegedly charging “excessive” prices for a key tuberculosis drug, the country's antitrust regulator said Friday. It is desperately-needed by South Africa, where the infectious disease is the leading cause of death, killing more than 50,000 people in 2021. South Africa has more than 7 million people living with HIV, more than any other country in the world. The group says the contracts show J&J charged South Africa 15% more per vaccine dose than it charged the much richer European Union. Pfizer charged South Africa more than 30% more per vaccine than it charged the African Union, even as South Africa struggled to acquire doses while having more COVID-19 infections than anywhere else on the continent.

Persons: Johnson, Bedaquiline, Janssen, Norbert Ndjeka, Ndjeka, Intiative, J Organizations: —, Johnson, J's, Janssen Pharmaceuticals, South Africa's, World Health Organization, WHO, Global, J, bedaquiline, Commission, Pfizer, Health, Union, African Union, Initiative, ___ AP Locations: CAPE, South Africa, J's Belgium, Africa, Africa's, ___, africa

☆ Clinical data is a goldmine — but Europe's startups are struggling to grow
▼ + stars: | 2023-08-14 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

Big Pharma and biotech companies often outsource clinical trials to external companies. Europe's early-stage clinical trials startups are flush with funds but they're struggling to grow. The fate — and market cap — of a biotech company often lies with a successful clinical trial. The COVID-19 pandemic also spotlighted another promising alternative to carry out these trials — startups. While the US touts around a dozen clinical trials unicorns valued at $1 billion or higher, per Dealroom estimates, Europe's startups are lagging behind.

Persons: BEN, Janssen, Christoph Ruedig, Maya Zlatanova, Europe hasn't, Matt Wilson, Wilson, Christoph Massner, it's, Ruedig Organizations: Big Pharma, pharma, Janssen Pharmaceuticals, Tempus, Venture, Albion VC, US, Earlybird Ventures Locations: Europe, New York, American

☆ Investor Sarat Sethi says don’t chase this rally, but you can buy these safe stocks
▼ + stars: | 2023-08-10 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Chasing the market higher is a bad idea right now, and investors should turn to safe-haven sectors instead, investor Sarat Sethi warned. "I think as an equity investor, one needs to be really careful here and not chase some of these rallies, especially for stocks that are looking for lower discount rates." Stocks rose on the back of the data, with the Dow Jones Industrial Average trading more than 400 points higher at its session peak. Haleon and pharmaceutical giant Johnson & Johnson were also mentioned by Sethi. Johnson & Johnson is down 2% in 2023 but has risen more than 3% in August.

Persons: Sarat Sethi, Sethi, Dow Jones, Freeport's, Johnson Organizations: Reserve, Dow Jones Industrial, Johnson, GSK, Janssen Pharmaceuticals, Food and Drug Administration Locations: Freeport, McMoRan

Overall, an FDA spokesperson says that “trial participants should reflect the population that is likely to use the product if FDA-approved. Across a group of 10 novel cancer therapies approved by the FDA in 2022, data shows the share of Black participants in key clinical trials ranged from zero to 8%. “Access to clinical trials at the sites where patients are living is an important factor to changing the landscape,” Perez says. “There’s been some novel ways to recruit patients, like using the church and using barbershops to recruit Black patients,” Cho says. Haddad says a number of Mayo patients were receiving experimental therapies through clinical trials when the pandemic began.

Persons: ”, Leslie Cho, Robert, Suzanne Tomsich, it’s, Edith Perez, Bolt Biotherapeutics, ” Perez, Eli Lilly, “, Lilly “, they’ll, Craig Lipset, ” Lipset, ” Cho, “ There’s, Dr, Tufia Haddad, Haddad, Mayo, Jennifer Dahne, Larry Hawk, Hawk Organizations: Women’s Cardiovascular, Cleveland Clinic, of Cardiovascular Medicine, U.S . Food, Drug Administration, FDA, “, Health, Committee, Cancer, Janssen Pharmaceuticals, Centers for Disease Control, Research Alliance, Mayo Clinic Comprehensive Cancer Center, Care, Mayo’s Center for Digital Health, College of Medicine, Medical University of South, of Psychology, University, Buffalo, SUNY, JAMA Locations: U.S, Chicago, Dallas, Los Angeles, Philadelphia, Los Angeles County, Alaska, “, Medical University of South Carolina

☆ Drugmakers aim to strike down Medicare drug-price negotiations at Supreme Court
▼ + stars: | 2023-06-20 | by ( Spencer Kimball | ) www.cnbc.com time to read: +10 min

And Bristol Myers Squibb is trying protect its blood thinner Eliquis, which brought in $11.8 billion in sales last year, or about 25% of the company's $46 billion total revenue for 2022. Long legal battle aheadMerck, the chamber and Bristol Myers Squibb filed their lawsuits ahead of two key deadlines. Bristol Myers Squibb did not either. If circuit court decisions on the matter contradict one another, the Supreme Court would step in to decide the issue, Bagby said. Bristol Myers Squibb made an identical argument in its complaint.

Persons: Richard A, Gonzalez, Pascal Soriot, Giovanni Caforio, Jennifer Taubert, Johnson, Kenneth C, Frazier, Albert Bourla, Olivier Brandicourt, Win Mcnamee, Drugmaker Merck, Drugmaker, Bristol Myers Squibb, PhRMA, Eli Lilly, Merck, Bristol Myers, Robin Feldman, Nicholas Bagley, Bagley, Gretchen Whitmer, Chris Meekins, Raymond James, Antonin Scalia, Brett Kavanaugh, Neil Gorsuch, Meekins, Long, Xavier Becerra, Randolph Daniel Moss, Barack Obama, Judge Thomas M, Rose, George W, Bush, Kelly Bagby, Bagby, Amgen, Donald Trump, Karine Jean, Pierre, Biden, Jean, we'll, Becerra, Feldman Organizations: Senate, AbbVie Inc, AstraZeneca, Myers Squibb Co, Janssen Pharmaceuticals, Johnson, Merck & Co, Inc, Pfizer, Sanofi, Getty, U.S . Chamber of Commerce, Bristol Myers Squibb, Washington , D.C, Southern, Southern District of, Democratic Party, U.S, Merck, Bristol, Pharmaceutical Research, Manufacturers of America, CNBC, Medicare, University of California College of, Justice Department, Michigan Gov, Bristol Myers, Human Services, Centers, Services, AARP Foundation, HHS, AARP, Specialty Pharmacy, Reuters, Supreme, Appeals, Democratic, U.S . Sixth, Republican, Third, White Locations: America, Washington , DC, Bristol, U.S, Washington ,, Southern District, Southern District of Ohio, New Jersey, Commerce's Dayton , Ohio, San Francisco

☆ GOP law cut Big Pharma tax rates by 40%, Senate report says
▼ + stars: | 2023-05-11 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

A Republican law has slashed the average tax rates of big pharmaceutical companies by more than 40% since it was enacted in 2017, Senate Finance Committee Democrats said in a report Thursday. That provision allowed U.S.-based pharmaceutical companies to access lower tax rates on their foreign income, the report said. Pharmaceutical companies report 75% of their taxable income overseas, the report said. The report said the average rate fell to 11.6% in 2019 and 2020, which resulted in billions of dollars in tax savings for pharmaceutical companies. Wyden also obtained similar information about other U.S. pharmaceutical companies, including Abbott Laboratories , Amgen , Bristol Myers Squibb and Merck .

☆ Ketamine is being sold as a depression wonder drug. For some, it's making everything worse.
▼ + stars: | 2023-01-25 | by ( Anna Silman | ) www.businessinsider.com time to read: +42 min

The infusions at the ketamine clinic in his West Texas hometown were a Christmas gift from his grandmother. About five years ago, more and more of my friends started using ketamine recreationally. IV ketamine treatment centers charging $400 to $2,000 an infusion popped up all over the country. "Ketamine used as directed in an appropriate clinical setting very rarely leads to any dependence," Mindbloom says on its website. Like Nadia, most of the people I interviewed said when they started using ketamine, they didn't think it was possible to become dependent on it.

☆ CVS, Walmart reach $147.5M opioid settlement with West Virginia
▼ + stars: | 2022-09-21 | by ( The Associated Press | ) www.nbcnews.com time to read: +2 min

Morrisey recently announced a settlement with Rite Aid for up to $30 million to resolve similar litigation. Morrisey said the deal with CVS includes a provision that means West Virginia can still receive money from any future national settlements that arise. The money from all opioid settlements will be distributed throughout the state to abate the opioid crisis. In August, West Virginia cities and counties reached a $400 million tentative settlement with three major U.S. drug distributors: AmerisourceBergen, Cardinal Health and McKesson. In April, Morrisey announced the state would receive $99 million in a settlement finalized with Johnson & Johnson’s subsidiary Janssen Pharmaceuticals Inc.

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