DIRS.INFO The most relevant business & tech news

☆ Venezuela's ex-spymaster pleads not guilty to US drug trafficking charges
▼ + stars: | 2023-07-20 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +2 min

Hugo Carvajal, 63, arrived in the United states on Wednesday after being extradited from Spain. "General Carvajal looks forward to fighting these outrageous charges in court before an unbiased American jury," Margulis-Ohnuma told reporters after the hearing. The drugs were ultimately bound for the United States, according to prosecutors. Dozens of Venezuelan military leaders, politicians and businessmen have been charged by the United States with corruption and drug trafficking. He was arrested in Spain on the U.S. drug charges later that year, but went into hiding after a court initially approved his extradition.

Persons: Hugo Carvajal, Judge Stewart Aaron, Zachary Margulis, Ohnuma, Carvajal, General Carvajal, Hugo Chavez's, El, Chavez, Nicolas Maduro, Maduro, Luc Cohen, Daniel Wallis Organizations: YORK, Department of Justice, U.S, American, U.S . State Department, Washington, Thomson Locations: United, Spain, Manhattan, Mexico, Venezuela, United States, Washington, Caracas, Aruba, Netherlands, Maduro, New York

MEXICO CITY, July 18 (Reuters) - Precursor chemicals used by Mexican cartels to make the deadly opioid fentanyl do not come from China, its embassy in Mexico said on Tuesday, rejecting U.S. officials' accusations. China had denied the illegal trafficking of fentanyl to Mexico in an April statement, though it did not address precursor chemicals. The embassy on Tuesday said China was "actively coordinating and strengthening" supervision of drug-making substances with Mexico. The U.S. embassy in Mexico and Mexico's foreign ministry did not immediately respond to requests for comment. Last week, the U.S. Treasury sanctioned 10 people with suspected ties to the Sinaloa Cartel's fentanyl network, as well as a company accused of importing chemicals from China.

Persons: Joe Biden's, Mexico Ken Salazar, Salazar, Kylie Madry, Isabel Woodford, Robert Birsel Organizations: MEXICO CITY, U.S . Drug, Administration, U.S . Treasury, Thomson Locations: MEXICO, China, Mexico, U.S, United States, Canada, The U.S, Sinaloa

July 18 (Reuters) - Johnson & Johnson (JNJ.N) sued the U.S. government on Tuesday, becoming the latest drugmaker seeking to block a program that gives the Medicare government health insurance plan the power to negotiate lower drug prices. The pharmaceutical industry says the drug price negotiation program under President Joe Biden's signature Inflation Reduction Act law will curtail profits and compel drugmakers to curb development of groundbreaking new treatments. The U.S. Centers for Medicare and Medicaid Services (CMS) in September is expected to select the first 10 drugs to target for negotiations with settled prices set to take effect in 2026. The law is on our side," a spokesperson for the U.S. Department of Health and Human Services said in a statement. It broadly follows the other related lawsuits, arguing that the program is unconstitutional and amounts to "confiscation of constitutionally protected property."

Persons: Johnson, Joe Biden's, drugmakers, Biden, Janssen, Bhanvi, Michael Erman, Krishna Chandra Eluri, Susan Heavey Organizations: Johnson, U.S, drugmakers Bristol Myers Squibb, Merck & Co, U.S . Chamber of Commerce, Pharmaceutical Research, Manufacturers of America, Commerce, U.S . Centers, Medicare, Medicaid Services, U.S . Department of Health, Human Services, District of, Thomson Locations: U.S, District of New Jersey, Bengaluru, New Jersey

☆ Pfizer, Flagship Pioneering to invest $100 mln in drug discovery
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +2 min

July 18 (Reuters) - U.S. drugmaker Pfizer (PFE.N) and venture firm Flagship Pioneering on Tuesday said they would invest $100 million together to develop up to 10 new potential drugs for areas including internal medicine, oncology, infectious diseases and immunology. Flagship, which has incubated biotech companies, most famously Moderna Inc (MRNA.O), and Pfizer will each invest $50 million. Flagship's drug discovery initiative Pioneering Medicines will lead the exploration process. Paul Biondi, president of Flagship's Pioneering unit and a former top Bristol Myers Squibb (BMY.N) executive, said the partnership will take advantage of Flagship's abilities to develop novel technologies towards bigger disease areas. Drug developers such as Denali Therapeutics (DNLI.O), Foghorn Therapeutics (FHTX.O) and Sana Biotechnology (SANA.O) are some of the other companies backed by Flagship.

Persons: Paul Biondi, Biondi, Mikael Dolsten, Foghorn, Bhanvi, Michael Erman, Shilpi Majumdar, Alexandra Hudson Organizations: drugmaker Pfizer, Moderna Inc, Pfizer, Flagship's, Bristol Myers Squibb, Flagship, Therapeutics, Foghorn Therapeutics, Sana Biotechnology, Alexandra Hudson Our, Thomson Locations: Bengaluru, New Jersey

July 18 (Reuters) - Johnson & Johnson (JNJ.N) sued the U.S. government on Tuesday, becoming the latest drugmaker seeking to block enforcement of a program that gives Medicare the power to negotiate drug prices. The pharmaceutical industry says the drug price negotiation program that is part of President Joe Biden's signature Inflation Reduction Act (IRA) will curtail profits and compel them to pull back on developing groundbreaking new treatments. U.S. drugmakers Bristol Myers Squibb (BMY.N), Merck & Co (MRK.N) and the U.S. Chamber of Commerce as well as industry lobbies Pharmaceutical Research and Manufacturers of America have also sued the government over the plan. The Biden administration hopes to save $25 billion annually by 2031 by having Medicare, the government health plan for people 65 and over, negotiate prices for some of its costliest medicines. Reporting by Bhanvi Satija in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Johnson, Joe Biden's, Biden, Bhanvi, Krishna Chandra Organizations: Johnson, U.S, drugmakers Bristol Myers Squibb, Merck & Co, U.S . Chamber of Commerce, Pharmaceutical Research, Manufacturers of America, Thomson Locations: Bengaluru

☆ Chamber of Commerce asks judge to block Medicare drug price negotiations before October
▼ + stars: | 2023-07-12 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The U.S. Chamber of Commerce on Wednesday asked a federal judge in Ohio to block Medicare's new powers to negotiate drug prices before Oct. 1. They argued that the drug negotiations violate the First and Fifth Amendments of the U.S. Constitution, as well as the separation of powers. The Chamber asked Judge Thomas Rose on Wednesday to block the negotiations before they get under way because they violate the due process clause. Drugmaker Abbvie , a member of the U.S. Chamber and the Dayton, Ohio area chamber, fears that its blood cancer drug Imbruvica will be selected for the negotiations this fall. The Medicare drug price negotiations do not provide these safeguards and impose price caps that are well below a drug's market value, the chamber's lawyers said.

Persons: Xavier Becerra, Drugmakers, Judge Thomas Rose, Drugmaker, Engler, Michael Staff Organizations: U.S . Chamber, Washington , D.C, Commerce, Wednesday, Medicare, Human Services, Constitution, HHS, Sixth Circuit, Appeals, Michigan Bell Telephone Co, Companies, Staff, Merck, Bristol Myers Squibb, Pharmaceutical Research, Manufacturers of America, U.S Locations: Washington ,, Ohio, Dayton , Ohio, Michigan, U.S

☆ Nvidia invests $50 million in biotech company Recursion for A.I. drug discovery
▼ + stars: | 2023-07-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Chipmaker Nvidia will invest $50 million in Recursion Pharmaceuticals to speed up the development of the biotech firm's artificial intelligence models for drug discovery, the companies said Wednesday. AI models usually require vast amounts of data, typically measured in terabytes, to train them. Nvidia can then potentially license those AI models on BioNeMo, the company's cloud service for generative AI in drug discovery that it rolled out earlier this year. A month later, Google Cloud launched two new AI-powered tools that aim to help biotech and pharmaceutical companies accelerate drug discovery. The company in May acquired two companies in the AI-driven drug discovery space for $87.5 million.

Persons: Roche, Chris Gibson, Nvidia's, drugmakers, Exscientia, AbCellera Biologics, — CNBC's Benjamin Taubman Organizations: Nvidia, Pharmaceuticals, Bayer, NVIDIA, Moderna, Google Cloud Locations: Salt Lake City , Utah

☆ Colombian Warlord Wanted on U.S. Drug Charges Dies in Venezuela
▼ + stars: | 2023-07-07 | by ( Kejal Vyas | Juan Forero | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/colombian-warlord-wanted-on-u-s-drug-charges-dies-in-venezuela-d10ec068

Persons: Dow Jones, d10ec068 Locations: venezuela

☆ Retail crime is a 'spiraling problem' in Kansas, the state's AG says, as rising drug use leads to a surge in shoplifting in Wichita
▼ + stars: | 2023-07-03 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Organized retail crime is rising in Wichita, Kansas, according to a report by CNN. "To see this much retail crime, it's shocking," Captain Casey Slaughter, who leads Wichita Police Department's property crimes bureau, told CNN. Organized retail crime at retailers was 26.5% higher in 2021 than in the previous year, according to a study by the National Retail Federation. Target said organized retail crime has led to more than $400 million in profit losses in 2022. Local crime officials say that drugs, and in particular fentanyl, a synthetic drug like heroin but 50 times more potent, appear to be driving a lot of the retail crime.

Persons: —, Kris Kobach, Captain Casey Slaughter, Slaughter, Joe Sullivan, Sullivan, Cabela's, Robert Lee, Lee Organizations: CNN, Service, Kansas, Wichita Police, National Retail Federation, Target Locations: Wichita , Kansas, San Francisco, Wichita, Sedgwick, Sedgwick County

☆ Here's a list of weight-loss drugs in development and awaiting approval to take on Ozempic
▼ + stars: | 2023-06-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +10 min

The company's chief rival, Denmark-based Novo Nordisk (NVO), also published promising data on drugs in its pipeline, including its own oral weight-loss treatment. Other pharmaceutical companies are racing to compete with Novo Nordisk and Eli Lilly, including Amgen (AMGN) and Pfizer (PFE). Barclays on Tuesday projected Eli Lilly's three leading obesity-and-diabetes drugs could generate nearly $49 billion in combined sales in 2030. Eli Lilly Eli Lilly has multiple drugs in development that fall under the GLP-1 umbrella in various stages of clinical development. Novo Nordisk Novo Nordisk currently dominates the market for GLP-1 drugs, with three products in the class on the U.S. market already: Ozempic, Wegovy and Rybelsus.

Persons: It's, Eli Lilly, Eli Lilly's, retatrutide, Lilly, there's, Lilly's, Geoff Meacham, Eli Lilly Eli Lilly, Jim Cramer, Evan David Seigerman, —, — Morgan Stanley, Wegovy, Rybelsus, Jim Cramer's, Jim, Mike Segar Organizations: Club, Novo Nordisk, New England, of Medicine, American Diabetes Association, Pfizer, Reuters, Barclays, Bank of America, CNBC, JPMorgan, Drug Administration, Equity, BMO Capital, Novo Nordisk Novo Nordisk, GLP, FDA, Nordisk, Company Locations: San Diego, Denmark, GLP, It's, Novo, Novo Nordisk's, Branchburg , New Jersey

☆ New data fortifies Eli Lilly's standing in the burgeoning market for weight-loss drugs
▼ + stars: | 2023-06-26 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +5 min

Eli Lilly (LLY) bolstered its position in the budding weight-loss drug market after new data showed its oral obesity pill was highly effective in a mid-stage study. Eli Lilly shares are taking a breather Monday, but we see no reason to join the sellers. Eli Lilly funded the trial. Eli Lilly stock is down about 1.3% Monday afternoon, likely on some profit-taking following a solid move up last week. Eli Lilly and Company, Pharmaceutical company headquarters in Alcobendas, Madrid, Spain.

Persons: Eli Lilly, LLY, orforglipron, Orforglipron, Eli Lilly's Mounjaro, Mounjaro, Jim Cramer, Lilly's, Geoff Meacham, Meacham, Lilly, It's, we've, Jim Cramer's, Jim, Cristina Arias Organizations: Club, New England, of Medicine, Nordisk, U.S . Food, Drug Administration, Novo Nordisk, Sunday, Bank of America, CNBC, UBS, Pfizer, Company, Pharmaceutical Locations: U.S, Alcobendas, Madrid, Spain

Against this violent backdrop, Marcelo Modesto, a City of God native, is using golf to try to transform the lives of the children who live there. However, amidst this bleak environment, Modesto’s golf academy stands as a sanctuary, offering hope and protection to the children within its confines. Maybe we could have a golf Pele … from one of our poor communities.”Tiago Albuquerque teaches English to children from Modesto’s golf academy. In addition to us having to teach golf, we have to be a psychologist, a social worker,” Modesto explains. “It’s changed my life”For the children enrolled there, the golf academy can be transformative, providing opportunities on and off the course.

Persons: favela, Marcelo Modesto, Modesto, “, ”, Carlos Favoreto, biggie, Pele …, Tiago Albuquerque, Cameron Bauer, ” Albuquerque, ” Modesto, “ It’s, “ Marcelo, David Loreno Marcelo Moreno, Alexandre Gomes Goncalves Organizations: CNN, God, Brazil’s Public Security Institute, “, Deus, UNICEF Locations: “ City, Rio De Janeiro, Rio de Janeiro, Modesto, Rio, “, Brazil, Europe

☆ 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

State and local officials have touted the settlements as providing desperately needed relief to communities hit hard by the crisis. But when the money will be paid out, and who will get it, remains far from clear, Reuters has found. Among the states where money is already reaching organizations on the ground are Massachusetts, Kentucky and Arizona. Most states share a significant portion of their total settlement funds with their city and county governments, which make their own independent decisions about how to spend. But in May, the board overseeing the state’s opioid settlement denied a joint application by Challenges and a county health department to fund harm reduction efforts, without explaining its decision.

Persons: Johnson, ”, Brandon Marshall, Julie Burns, Chris Bryan, Glenn Hegar, Lisa Ruzicka, “, Ruzicka, “ I’ve, drugmakers Johnson, Lauren Kestner, Tricia Christensen, –, we’re, ” Marc Burrows, Brendan Pierson, Disha, Alexia Garamfalvi, Claudia Parsons Organizations: Johnson, U.S . Centers for Disease Control, Reuters, District of Columbia, Reuters Graphics Reuters Graphics Reuters, Brown University School of Public Health, Rhode, Texas, Hope Foundation, Walgreens, Alliance, state’s Department of Health, Human Services, Prevention Services, Community Education Group, Alabama Attorney, University of Mississippi Medical, Inc, Thomson, & $ Locations: Massachusetts, Texas, United States, Maryland, Illinois, . Arkansas, Kentucky, Arizona, Rhode, RIZE Massachusetts, RIZE, Kansas, North Carolina, Charlotte, Appalachia, Mississippi, Alabama, New York

☆ One Change Could Help U.S. Drugmakers Save 11 Million Trees a Year
▼ + stars: | 2023-06-15 | by ( Dieter Holger | ) www.wsj.com time to read: +7 min

That equals more than 3.8 million metric tons of emissions from the production and disposal of the paper, or about 10.9 million trees. The company aims to have a plan by 2025 for all its medical information to go electronic by the end of the decade. PREVIEWOther countries have digitized drug information, with Japan leading the way. Singapore has been in the process of switching to digital information or so-called e-labeling for consumers and medical professionals since 2020. And since 2009, Australia has required digitized instructions for medical professionals and patients, although some drugs such as injectables may contain a hard copy.

Persons: Pam Cheng, Alyssa Schukar, ”, Cheng, Johnson, Joshina Kapoor, Eli Lilly, Avery Dennison, JP Gould, WestRock, Diana Harshbarger of, Diana Harshbarger, Richard Scholz, Jeremy Kahn, AstraZeneca’s Cheng, Joshua Martin, Dieter Holger Organizations: Alliance, AstraZeneca, Wall, pharma, Johnson, U.S . Food, Drug Administration, Pfizer, Pharmaceutical, Literature Association, Republican U.S . Rep, . House, REUTERS Rep, FDA, Senate, Association, Sustainable Business, Environmental, “, dieter.holger Locations: U.S, Japan, Diana Harshbarger of Tennessee, Tenn, American, Maihara, Singapore, Australia, North America

☆ US will 'make every effort' to boost cooperation with China on fentanyl
▼ + stars: | 2023-06-14 | by ( Humeyra Pamuk | Thomson Reuters | Humeyra Pamuk Is A Senior Foreign Policy Correspondent Based In Washington Dc. She Covers The U.S. State Department | ) www.reuters.com time to read: +3 min

The United States has said the institute was complicit in human rights abuses toward Uyghurs and other Chinese ethnic minorities. But Robinson said blocking the flow of fentanyl and precursors to the United States and securing China's cooperation on the issue was a top priority. And it's an issue I think is very likely going to be raised directly with the Secretary's Chinese counterpart, PRC (People's Republic of China) counterpart. And depending on the response, I think everything is on the table in terms of getting some kind of global cooperation on this issue," Robinson said. Robinson said he did not find it "that unusual" that China would seek to extract concessions from Washington in exchange for help on fentanyl.

Persons: Biden, Antony Blinken, Todd Robinson, Robinson, Joe Biden, Qin Gang, Gang, Humeyra Pamuk, Michael Martina, Kristina Cooke, Don Durfee, Angus MacSwan Organizations: U.S, China's Ministry, Public Security's Institute of Forensic Science, Commerce, Bureau of International Narcotics, Law, Affairs, State Department, People's, U.S . Centers for Disease Control, Prevention, Qin, Reuters, Thomson Locations: China, United States, U.S, Beijing, People's Republic of China, Washington, San Francisco

[1/3] Paramedics display a dose of the opioid overdose reversal drug Narcan, or Naloxone Hydrochloride, in an ambulance in Peabody, Massachusetts, U.S., August 8, 2017. The figure is up 0.7% from 108,825 overdoses recorded in the 12-month period ending January 2022, according to U.S. data. The U.S. drug overdose death toll crossed the 100,000-mark for the first time in 2021, as the COVID pandemic disrupted medical care and increased mental health problems. U.S. drug overdose deaths rose 13.7% between January 2021 and January 2022 and by 31.4% in the prior 12 months at the height of the pandemic. But the surge in overdose deaths began before the pandemic took hold due to abuse of prescription opioid painkillers and illegal drugs like heroin.

Persons: Brian Snyder, Joe Biden's, Biden, Tom Britton, Stacey McKenna, McKenna, Nandhini Srinivasan, Khushi, Bill Berkrot Organizations: REUTERS, U.S . Centers for Disease Control, Prevention, American Addiction Centers, U.S, R Street Institute, D.C, CDC, Thomson Locations: Peabody , Massachusetts, U.S, China, Mexico, Washington, Bengaluru

☆ Ozempic is taking China by storm. Drugmakers are scrambling to boost supplies
▼ + stars: | 2023-06-06 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Hong Kong CNN —Ozempic, originally a medication for treating diabetes, is in high demand worldwide with celebrities and social media users touting it as a miracle drug for weight loss. “This is a wonder drug,” according to a popular series of posts on Xiaohongshu, a Chinese social app similar to Instagram. Soaring pricesThe social media hype was so enormous that Xiaohongshu launched a crackdown in February and deleted more than 5,000 posts sharing weight loss experiences with Ozempic. Fill the shortageThe weight loss drug market in China is expected to boom in the coming years. Novo Nordisk has applied to China’s drug regulator to widen the scope of use for semaglutide, according to the National Medical Products Administration.

Persons: Hong Kong CNN — Ozempic, they’ve, ” Ozempic, Xiaohongshu, Ozempic, Kevin Frayer, hasn’t Organizations: Hong Kong CNN, Daily, First Affiliated, of Sun, University, Novo Nordisk, Tebon Securities, National Medical Products Administration, ., CNN, Huadong, Intellectual, Beijing Intellectual Property Locations: Hong Kong, China, Ozempic, Guangzhou, Shanghai, Hangzhou, Beijing

☆ Novartis drug cuts recurrence risk by 25% in early-stage breast cancer
▼ + stars: | 2023-06-02 | by ( Ludwig Burger | ) www.reuters.com time to read: +3 min

The company on Friday said the relative risk reduction of cancer recurrence was 25.2% and that the results were broadly consistent regardless of patients' menopausal status or cancer progression status. Kisqali has been approved to treat hormone-driven breast cancer that has spread to other parts of the body, where Novartis has taken market share from Pfizer's (PFE.N) Ibrance. But that is in a subset of women who are at high risk of recurrence after surgery, typically diagnosed based on signs of cancer in the lymph nodes. Here, Novartis will face tough competition because the U.S. drugmaker has said Verzenio reduces the risk of recurrence by 35% in that group. Novartis will request approval for wider use in the U.S. and Europe before the end of the year, it added.

Persons: Kisqali, Eli Lilly, Verzenio, drugmaker, Eli Lilly's Verzenio, Jeff Legos, Vas, Ludwig Burger, Sriraj Organizations: Novartis, American Society of Clinical Oncology, Oncology, Hematology, Thomson Locations: FRANKFURT, Chicago, U.S, Europe

☆ US slaps sanctions on Chinese, Mexican entities in fentanyl action
▼ + stars: | 2023-05-30 | by ( Daphne Psaledakis | ) www.reuters.com time to read: +3 min

The Treasury Department said it slapped sanctions on seven entities and six people based in China, as well as one business and three people based in Mexico. "Counterfeit pills laced with fentanyl constitute a leading cause of these deaths, devastating thousands of American families each year. We remain committed to using all authorities against enablers of illicit drug production to disrupt this deadly global production and counter the threat posed by these drugs." The Biden administration has been pushing for action as U.S. drug-related overdose deaths surpassed 100,000 in 2021, according to government estimates. Reporting by Daphne Psaledakis, Doina Chiacu and David Brunnstrom; Editing by Sharon Singleton and Jamie FreedOur Standards: The Thomson Reuters Trust Principles.

Persons: Biden, Brian Nelson, Liu Pengyu, Washington, brazenly, Liu, Daphne Psaledakis, Doina Chiacu, David Brunnstrom, Sharon Singleton, Jamie Freed Organizations: Treasury Department, Terrorism, Financial, U.S . Centers for Disease Control, Prevention, Washington, Reuters, Treasury, Thomson Locations: United States, China, Mexico, Beijing

☆ Medicare is prohibited from paying for weight-loss drugs. These are the 3 potential ways to change that.
▼ + stars: | 2023-05-22 | by ( ) www.businessinsider.com time to read: +6 min

There are three routes lawmakers and regulators could use to add coverage for weight-loss drugs. Older Americans hoping to get their hands on powerful weight-loss drugs such as Ozempic and Wegovy may find it impossible to access them. Should Medicare cover weight loss medication, it could also unlock access for people who have private coverage. "A decision by Medicare to cover weight-loss drugs would put pressure on employers and other private insurers to cover weight-loss drugs too," said Tricia Neuman, a senior vice president at KFF who co-authored a recent brief on the subject. There are three potential strategies that could be used to expand Medicare coverage to weight-loss drugs.

☆ AstraZeneca to leave leading U.S. drug lobby group
▼ + stars: | 2023-05-16 | by ( Maggie Fick | ) www.reuters.com time to read: +1 min

LONDON, May 16 (Reuters) - AstraZeneca (AZN.L) has decided to leave the main U.S. drug lobby group, the Pharmaceutical Research and Manufacturers of America (PhRMA), and pursue other ways of engaging in advocacy at the state and federal level, the company said. AstraZeneca decided not to continue its membership after a recent assessment of whether it was "the most productive and effective use of (company) resources", a spokesperson for the British drugmaker said in an emailed statement. PhRMA said in a separate emailed statement that AstraZeneca had decided not to renew its membership for the second half of 2023. AstraZeneca's exit follows those of AbbVie, maker of blockbuster arthritis drug Humira, and Teva, a leading manufacturer of generic drugs. AstraZeneca will redirect the funds previously used on its PhRMA membership to continue U.S. advocacy efforts with state and federal policymakers, its statement read.

☆ How El Chapo’s sons built a fentanyl empire poisoning America
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +23 min

Headed by Iván, El Chapo’s oldest son, the siblings have emerged as key figures in the Sinaloa Cartel, U.S. and Mexican anti-narcotics officials said. But he was killed in 2008 in Culiacán in a hail of bullets amid infighting between warring factions of the Sinaloa Cartel. The agency in April placed Iván on the list of its 10 Most Wanted Fugitives, joining Jesús Alfredo and Ismael “El Mayo” Zambada, a Sinaloa Cartel legend and El Chapo’s alleged former business partner. They also kidnapped eight soldiers and surrounded military housing where wives and children of Mexican soldiers lived, Mexican officials said. Despite that blow to the Sinaloa Cartel, fentanyl keeps flowing north.

The CDC report showed that the rate of drug overdose deaths involving fentanyl increased from 5.7 per 100,000 people in 2016 to 21.6 per 100,000 in 2021. Fentanyl-related deaths rose by about 55% in 2019-2020, and 24.1% in 2020-2021, said Merianne Rose Spencer, one of the report's authors. Between 2016 and 2021, the rate of drug overdose deaths involving methamphetamine increased more than fourfold, and cocaine-related overdose deaths more than doubled, the CDC said. Heroin related deaths decreased from 4.9 per 100,000 in 2016 to 2.9 in 2021, the report found. The Biden administration has been pushing for action as U.S. drug-related overdose deaths surpassed 100,000 in 2021, according to government estimates.

☆ Pfizer beats profit estimates on demand for new drugs, COVID products
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +1 min

Companies Pfizer Inc FollowMay 2 (Reuters) - Pfizer Inc (PFE.N) on Tuesday beat analysts' estimates for first-quarter profit on strong demand for its newly acquired drugs and steady demand for its COVID products, sending its shares up nearly 3% before the bell. The company has said it expects 2023 to be a "transition year" for its COVID products, before potential returning to growth in 2024. The company said it expects significantly lower sales contributions from COVID products in the second quarter from the first quarter. Excluding COVID products, Pfizer said first-quarter revenue was mostly driven by recently acquired products, including migraine drug Nurtec ODT and sickle cell disease treatment Oxbryta. Pfizer also maintained its annual COVID products revenue forecast of about $21.5 billion from both the vaccine and the pill.

Search resuls for: ". Drug"

25 mentions found