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☆ Biden administration will select first 10 drugs for Medicare price negotiations by September
  + stars: | 2023-01-11 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +3 min
The negotiated prices for those 10 Medicare Part D drugs will go into effect in January 2026. This includes drugs for rare diseases, plasma or blood-derived products, drugs developed by small biotech companies and drugs that Medicare spends less than $200 million on. The products may not be part of the eventual price negotiations due to generic competition or a change in Medicare expenditures. In the program's second phase, HHS will select another 15 Medicare Part D drugs to negotiate, with prices taking effect in 2027. In phase four, HHS will negotiate prices for 20 Part B or D drugs, taking effect in 2029.
☆ Eisai, Biogen Alzheimer's drug slows cognitive decline, safety for some becomes focus
  + stars: | 2022-11-30 | by ( Deena Beasley | ) www.reuters.com   time to read: +5 min
The drug, lecanemab, was associated with a type of brain swelling in 12.6% of trial patients, a side effect previously seen with similar drugs. He suggested that could be because homozygous study patients who were given a placebo fared better than expected. Overall, lecanemab patients benefited by 23% to 26% compared with a placebo on these secondary trial goals. Detailed data from the study were presented at the Clinical Trials on Alzheimer's Disease meeting in San Francisco and published in the New England Journal of Medicine. Dr. Howard Fillit, chief science officer at the Alzheimer’s Drug Discovery Foundation, said doctors always balance the benefits and risks of therapies.
☆ Pfizer raises 2022 earnings guidance, beats third-quarter expectations
  + stars: | 2022-11-01 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +3 min
Pfizer on Tuesday raised its 2022 earnings guidance after booking a strong third quarter that beat Wall Street expectations. Pfizer raised its full year sales guidance for its Covid-19 vaccine to $34 billion this year, up $2 billion from the company's previous expectations. The company sold $4.4 billion of its Covid vaccine worldwide in the quarter, a decrease of 66% compared to the third-quarter of 2021. Pfizer's antiviral treatment Paxlovid also had a strong quarter, generating $7.5 billion in sales worldwide though mostly in the U.S. Pfizer booked net income of $8.6 billion for the third quarter, a 6% increase over the same quarter last year.
☆ Pfizer CEO reveals 2030 growth plan as company faces up to $18 billion revenue hit from generics
  + stars: | 2022-11-01 | by ( Spencer Kimball | ) www.cnbc.com   time to read: +3 min
Bourla said Pfizer is staring down an expected loss of between $16 billion and $18 billion in revenue from 2025 through 2030 as patent protections for some of its bestselling drugs expire. "We recognize that some are questioning Pfizer's longer-term growth prospects," Bourla told analysts during Pfizer's third-quarter earnings call Tuesday. Taken together, these five drugs represented about 40% of Pfizer's third-quarter revenue this year when the Covid vaccine and the antiviral treatment Paxlovid are excluded. Pfizer's RSV vaccine candidates for older adults and infants have the potential to generate billions in revenue, Bourla said. It would be the only RSV vaccine in the U.S. that protects infants by giving the shot to the mother, he said.
☆ Watch CNBC's full interview with Bristol Myers Squibb CEO Dr. Giovanni Caforio
  + stars: | 2022-10-26 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Bristol Myers Squibb CEO Dr. Giovanni CaforioBristol Myers Squibb CEO Dr. Giovanni Caforio joins CNBC's 'Squawk on the Street' to discuss the company's third-quarter earnings report. Caforio also breaks down the company's portfolio of cardiovascular drugs, including heavyweight Eliquis. "Internationally, business was impacted by exchange," Caforio tells CNBC.
☆ Paxlovid: Covid-19 treatment can interact with common heart medications, doctors warn
  + stars: | 2022-10-12 | by ( Jacqueline Howard | ) edition.cnn.com   time to read: +5 min
Paxlovid can have dangerous interactions with some of the most common medications for cardiovascular disease, including certain statins and heart failure therapies, a new paper warns. The review paper says that interactions between Paxlovid and certain blood thinners can cause an increased risk of bleeding. Interactions between Paxlovid and some cholesterol medications such as statins can be toxic to the liver, and interactions between Paxlovid and certain blood pressure medications could cause low blood pressure, flushing and swelling. For cardiovascular medications that patients could discontinue in order to take Paxlovid, Morgan noted that the Covid-19 treatment is a five-day regimen. “Awareness of the presence of drug-drug interactions of Paxlovid with common cardiovascular drugs is key.
☆ What Cramer is watching Wednesday — bonds crush us, J&J sets $5 billion buyback, Starbucks raises
  + stars: | 2022-09-14 | by ( Jim Cramer | ) www.cnbc.com   time to read: +5 min
Club holding Johnson & Johnson (JNJ) announces a $5 billion buyback and affirms adjusted operational EPS of $10.70, or 9.2% growth, for the full year. Club holding Starbucks (SBUX) raises guidance significantly, high single-digit earnings per share and double-digit revenues. Club holding Costco' s (COST) Kirkland doing well by the way but so are branded. Club holding Apple (AAPL) back on its ramp? As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
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