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The Federal Trade Commission on Friday sued three large U.S. health companies that negotiate insulin prices, arguing the drug middlemen use practices that boost their profits while "artificially" inflating costs for patients. It comes three days after Express Scripts sued the FTC, demanding that the agency retract its allegedly "defamatory" July report that claimed that the PBM industry is hiking drug prices. It also alleges that PBMs favor those high-list-price insulins even when more affordable insulins with lower list prices become available. President Joe Biden's signature Inflation Reduction Act has capped insulin prices for Medicare beneficiaries at $35 per month. The FTC said it remains "deeply troubled" by the role insulin manufacturers play in higher list prices, arguing that they inflate prices in response to PBMs' demands for higher rebates.
Persons: Lina Khan, UnitedHealth, drugmakers Eli Lilly, Caremark, PBMs, Rahul Rao, Rao, Joe Biden's, Biden, Eli Lilly, Eli Lilly's Organizations: Federal Trade Commission, CVS, Cigna's, FTC, Sanofi, Novo Nordisk, Express, Competition Locations: Rayburn, Washington ,, U.S, drugmakers, FTC's
A new GLP-1 drug, pemvidutide, helped patients lose fat while guarding muscle, like exercise does. That's impressive when you compare it to existing GLP-1 drugs like Ozempic and Wegovy (semaglutide), or Mounjaro and Zepbound (tirzepatide). This is why doctors recommend patients on weight loss drugs do some strength training in tandem with their medication. Pemvidutide, like tirzepatide is a two-part drug that combines a GLP-1 drug with another drug in a single shot. "There is a growing appreciation that the quality of weight loss is as important as the quantity of weight loss," Scott Harris, Altimmune's chief medical officer, said in a release.
Persons: Drugmakers Eli Lilly, , Drugmaker Altimmune, Altimmune, Scott Harris, Eli Lilly, FierceBiotech, Versanis Organizations: Novo Nordisk, Service Locations: Altimmune, GLP
The stock of Club holding Morgan Stanley (MS) dropped to $70 from $100 before bouncing back to $80 when interest rates recently peaked. Morgan Stanley and Schwab did nothing bad or shameful, but their multiples are shadows of their former selves. At least Morgan Stanley has a nice dividend yield of 4.25%. Key, Huntington, First Horizon, Morgan Stanley and Schwab are all good franchises that are regarded as cheap. The Morgan Stanley headquarters is seen in New York City on Jan. 17, 2023.
Persons: It's, Huntington Bancshares, Stephen Steinour, Chris Gorman, Bryan Jordan, Morgan Stanley, That's, Charles Schwab, Schwab, We're, Macy's, Albert Bourla, Myers, Meyers, Eli Lilly, let's, Mills, Campbell Soup, WK Kellogg, McCormick, Neutrogena, Johnson, Edwards, Zimmer Biomet, Becton Dickenson, Baxter, BAX, Ford, Hess, Tesla, Jim Cramer's, Jim Cramer, Jim, Michael M Organizations: Dominion, Federal Reserve, Nordstrom, Pfizer, Bristol, Myers, Hostess Brands, Novo Nordisk, PepsiCo, Hershey, Brands, Spice, Johnson, Moderna, American Electric Power, Duke Energy, Motors, JetBlue, EOG Resources, ConocoPhillips, Exxon Mobil, Nvidia, Apple, Federal Trade Commission, CNBC, Santiago, Getty Locations: Huntington, Memphis, Tennessee, Toronto, United States, Celgene, Bristol, New York City
Bank of America says healthcare stocks are usually strong performers in economic downturns. Their solid earnings and low valuations should help healthcare stocks going forward. The firm named 16 favorite stocks in the sector, including 3 that it thinks could double in price. Healthcare stocks aren't having a great year, but Bank of America says it sees signs that the tide is going to turn. Bank of America says the following 16 names are the best defensive and high-upside small- and mid-cap stocks in healthcare.
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