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Kenvue CEO Thibaut Mongon at the New York Stock Exchange for its initial public offering, May 4, 2023. Activist investor Starboard Value has a large stake in Kenvue , which spun out of Johnson & Johnson in mid-2023, according to people familiar with the matter. Starboard's push at Kenvue comes just two weeks after news broke it had amassed a roughly $1 billion stake in struggling pharmaceutical company Pfizer. Johnson & Johnson completed its separation from Kenvue in August last year, though the pharmaceutical giant still holds a stake in the new company. Kenvue started trading on the New York Stock Exchange in May 2023, ending its first day of trading with a share price of about $27.

Persons: Thibaut Mongon, Johnson, Starboard's Jeff Smith, J's, Haleon, Kenvue Organizations: New York Stock Exchange, CNBC, Wall Street, Pfizer, Johnson, J, Procter Locations: Kenvue

☆ Drug costs, abortion, Obamacare: How Trump and Harris could change U.S. health care
▼ + stars: | 2024-10-19 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +18 min

He said a Harris administration "will build on existing programs, increasing federal spending to make health care more affordable for people." Still, Socal said a Trump administration wouldn't have much flexibility to dismantle or scale back the law without change from Congress. The IRA extended enhanced subsidies that made ACA health plans more affordable for millions of households through 2025 — a provision Harris plans to make permanent if elected, her campaign said. A Democratic House or Senate would likely block any of Trump's sweeping changes to Medicaid, according to Altman. Vance this month also said a future Trump administration would defund Planned Parenthood.

Persons: Donald Trump, Kamala Harris, Trump, Drew Altman, Harris, KFF, Anna Moneymaker, Biden, Joe Biden's, Mariana Socal, Socal, didn't, Stephen Patrick, KFF's Altman, Nathan Posner, Altman, Bill Clark, Roe, Wade, Joe Raedle, Stacey Lee, Johns, Lee, mifepristone, Sen, JD Vance, Trump's, Vance, Nicholas Kamm Organizations: Democratic, U.S, U.S . Naval, Getty, Reuters, CNBC, Congress, The Commonwealth Fund, RAND, U.S . Department of Health, Human Services, Washington , D.C, Republicans, Johns Hopkins Bloomberg School of Public Health, Trump, wouldn't, Biden, Medicare, Emory University, Lawmakers, Affordable, ACA, Medicaid, Democrats, White, Anadolu, Social Security, Capitol, CQ, Inc, The New York Times, Siena College, PBS, Prime, Convention, Johns Hopkins Carey Business School, Republican Party, U.S . Senate, Food and Drug Administration, FDA, CNN, Afp Locations: Israel, Washington, U.S, Washington ,, Canada, Jacksonville , Florida, Ohio

☆ Merck says experimental RSV treatment protected infants in trial, paving way for potential approval
▼ + stars: | 2024-10-17 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Merck plans to discuss the study data with regulators worldwide, with a goal of making the treatment available for infants as early as the 2025 to 2026 RSV season, according to a release. The trial examined the safety and efficacy of a single dose of the treatment, clesrovimab, in healthy preterm and full-term infants entering their first RSV season. Results were consistent through both the five-month and six-month time points in the trial, Merck said. Merck's clesrovimab could potentially compete against a similar treatment from Sanofi and AstraZeneca called Beyfortus, which was in short supply nationwide last RSV season due to unprecedented demand. But Merck's treatment can be administered to infants regardless of their weight, which the company said may offer convenience in terms of dosing.

Persons: Merck, Clesrovimab, Dr, Octavio Ramilo, Ramilo, Merck's Organizations: Merck, New York Stock Exchange, Infectious, Research, Sanofi, AstraZeneca, Pfizer, GSK Locations: Los Angeles, St

☆ Novavax says FDA put hold on combination Covid-flu shot and influenza vaccine; shares plunge
▼ + stars: | 2024-10-16 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

Novavax on Wednesday said the Food and Drug Administration has put a hold on its application for a combination shot targeting Covid and influenza and a standalone flu vaccine, sending the company's shares down sharply. A clinical hold is an order issued by the FDA to a manufacturer to delay or suspend a proposed clinical investigation on a drug. Still, it appears to be a setback for the biotech company, which is scrambling to bring new products to market as demand for its Covid vaccine plummets worldwide. Novavax said it was working with the FDA to resolve the clinical hold on its combination shot and standalone flu vaccine. Novavax's shot, meanwhile, fends off the virus with protein-based technology, a decades-old method used in routine vaccinations against hepatitis B and shingles.

Persons: Novavax, Dr, Robert Walker, Novavax's, fends Organizations: Dutch Health Service Organization, Food and Drug Administration, FDA, Public, Pfizer, Moderna, Covid Locations: The Hague, Netherlands

Walgreens said Tuesday it plans to close 1,200 stores over the next three years as it seeks to further downsize its footprint amid flagging sales and changing consumer behavior. Walgreens announced the closures as part of its fiscal fourth-quarter and full-year earnings, which beat Wall Street's expectations. In June, Walgreens said it planned to close a “significant” number of its underperforming stores by 2027. Both Walgreens and rival CVS are facing a difficult operating environment, fighting to be profitable as consumers shift their habits. In 2021, CVS said it would close about 900 stores, or about 10% of its U.S. locations, from 2022 to 2024.

Persons: Tim Wentworth, ” Wentworth, ” Neil Saunders Organizations: Walgreens, CVS, Rite Aid, Pharmacy, CNBC Locations: U.S

☆ Walgreens says it will close 1,200 stores by 2027, as earnings top estimates
▼ + stars: | 2024-10-15 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

A person rides past a Walgreens truck, owned by the Walgreens Boots Alliance, in Manhattan, New York City, on Nov. 26, 2021. The retail drugstore chain also said it plans to close roughly 1,200 stores over the next three years, which includes 500 in fiscal 2025 alone. The company said those closures will be "immediately accretive" to its adjusted earnings and free cash flow. In June, Walgreens said it intends to close a "significant" number of its underperforming stores by 2027. Walgreens anticipates adjusted earnings per share of $1.40 to $1.80 in the coming fiscal year.

Persons: Tim Wentworth Organizations: Walgreens, Walgreens Boots Alliance, LSEG, Wall Street Locations: Manhattan , New York City, U.S

☆ Trump or Harris? Here are the 2024 stakes for airlines, banks, EVs, health care and more
▼ + stars: | 2024-10-13 | by ( Hugh Son | ) www.cnbc.com time to read: +18 min

Former President Donald Trump and Vice President Kamala Harris face off in the ABC presidential debate on Sept. 10, 2024. The previous Trump administration didn't pursue those types of consumer protections. In contrast, Democrats, including Harris, have historically supported EVs and incentives such as those under the Biden administration's signature Inflation Reduction Act. Meanwhile, Harris, if elected, can build on existing efforts of the Biden administration to deliver savings to more patients, they said. Trump also led multiple efforts to repeal the Affordable Care Act, including its expansion of Medicaid to low-income adults.

Persons: Donald Trump, Kamala Harris, he's, Harris, Joe Biden's, Trump, Pete Buttigieg, Jonathan Kletzel, didn't, — Leslie Josephs Banks Big, JPMorgan Chase, Biden, Tobin Marcus, it's, Sen, JD Vance, they're, Lindsey Johnson, Hugh Son, Pablo Di Si, EVs, Joseph Spak, Harris hasn't, Mike Wayland, Drugmakers, Trump hasn't, Mariana Socal, Annika Kim Constantino, David Zaslav, John Malone, Time Warner, Simon, Simon & Schuster, Marc DeBevoise, Jonathan Miller, Elon Musk's, Musk, I'm, MAGA, I'm Dark MAGA, —, TikTok, — Lillian Rizzo, Alex Sherman, Michael Lynn, — Amelia Lucas Organizations: ABC, Getty, U.S, Trump, Treasury, Justice Department, Federal Trade Commission, Consumer Financial, Bureau, CNBC, The Biden Department of Transportation, Democratic, American Airlines, JetBlue Airways, Spirit Airlines, Industry, Boeing, JPMorgan, Securities and Exchange Commission, Currency, Federal Deposit Insurance Corporation, Biden, Wolfe Research, Bank, Republican, Bankers, Democratic Party, Consumer Bankers Association, Republicans, Volkswagen Group of America, Automotive News, Environmental Protection Agency, UBS, Mike Wayland Health, Commonwealth Fund, Medicare, Johns Hopkins Bloomberg School of Public Health, Annika Kim Constantino Media, Paramount Global, Skydance, Warner Bros, Discovery, Allen & Co, Sun, Media, Disney, Fox Corp, Time, Simon &, Random, MGM, FCC, Integrated Media, Twitter, Capitol, White, Lawmakers, Meta's Facebook, Alex Sherman Restaurants, National Restaurant Association, National Labor Relations Board, Social Security, Washington Post, Cornell University Locations: United States, PwC, JetBlue's, U.S, China, Ohio, Michigan, California

☆ CVS, UnitedHealth say FTC should take Lina Khan and two commissioners off drug middlemen case
▼ + stars: | 2024-10-09 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

CVS Health and UnitedHealth Group are demanding Federal Trade Commission Chairwoman Lina Khan and two other commissioners recuse themselves from a lawsuit accusing the companies and other drug middlemen of boosting their profits while inflating insulin costs for Americans. In separate motions filed Tuesday night with the FTC, CVS and UnitedHealth argued that all three commissioners have an extensive track record of making public statements that indicate "serious bias" against the companies' so-called pharmacy benefit managers. CVS said those statements demonstrate that the commissioners have "prejudged this matter," so their participation in the case "violates due process." The FTC filed the suit last month against the three largest PBMs, CVS Health's Caremark, UnitedHealth Group 's Optum Rx and Cigna 's Express Scripts. The FTC has been investigating PBMs and their role in insulin prices since 2022.

Persons: Lina Khan, UnitedHealth, Khan, Alvaro Bedoya, Rebecca Kelly Slaughter, PBMs Organizations: Financial Services, General Government, Federal Trade Commission, CVS Health, UnitedHealth, Federal Trade, CVS, Amazon, FTC, Zinc Health Services, GPO, Emisar Pharma, OptumRx Locations: Rayburn, U.S, Caremark

☆ CVS is under pressure and considering a breakup. Here's why that could be risky
▼ + stars: | 2024-10-04 | by ( Annika Kim Constantino | Annika Kim Constantino Covers The Biotech | Pharmaceutical Industry For Cnbc Digital. | ) www.nbcnews.com time to read: +13 min

It’s time for a wellness check at CVS Health. But Caremark, in some cases, also funnels drug prescriptions to CVS retail pharmacies, he said. He said a spinoff of CVS’ retail pharmacies would be more likely. A general view shows a sign of CVS Health Customer Support Center in CVS headquarters of CVS Health Corp in Woonsocket, Rhode Island, U.S. October 30, 2023. Those actions will help the company achieve its target of 100- to 200-basis-points margin improvement in its Medicare Advantage business, CVS executives said in August.

Persons: Caremark, ”, eMarketer, Rajiv Leventhal, Karen Lynch, Lynch, Brian Kane, “, ” Jefferies, Brian Tanquilut, Elizabeth Anderson, Anderson, it’s, eMarketer’s Leventhal, ” Tanquilut, Ann Hynes, Tanquilut, “ they’re, they’re, Michael Cherny, Cherny, Faith Ninivaggi, Reuters Cherny, CVS, Tom Cowhey Organizations: CVS Health, CVS, CNBC, Aetna, Monday, Glenview Capital, Glenview, Evercore ISI, UnitedHealth, Humana, Walgreens, Street Health, Oak, Health, Mizuho, Amazon, Walmart, Oak Street, Leerink Partners, Affordable, Medicare, CVS Health Corp, Reuters, Centers, Medicaid Services Locations: U.S, Caremark, Aetna, Texas and Illinois, Woonsocket , Rhode Island

☆ CVS is under pressure and considering a break up. Here's why that could be risky
▼ + stars: | 2024-10-04 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +11 min

In this article CVS Follow your favorite stocks CREATE FREE ACCOUNTA sign outside of a CVS pharmacy store on February 07, 2024 in Miami, Florida. That means Caremark also sits at the intersection of CVS' retail pharmacy operation and its Aetna insurer, boosting the competitive advantage of both of the businesses. A workers stocks the shelves in a CVS pharmacy store on February 07, 2024 in Miami, Florida. An Oak Street Health clinic stands in a Brooklyn neighborhood on February 08, 2023 in New York City. A general view shows a sign of CVS Health Customer Support Center in CVS headquarters of CVS Health Corp in Woonsocket, Rhode Island, U.S. October 30, 2023.

Persons: Joe Raedle, Caremark, Rajiv Leventhal, Karen Lynch, Lynch, Brian Kane, Jefferies, Brian Tanquilut, Elizabeth Anderson, Anderson, it's, eMarketer's Leventhal, Tanquilut, Ann Hynes, Spencer Platt, they're, Michael Cherny, Cherny, Faith Ninivaggi Organizations: Getty, CVS Health, CVS, CNBC, Aetna, Monday, Glenview Capital, Glenview, UnitedHealth, Humana, Walgreens, Street Health, Oak, Health, Mizuho, Oak Street Health, Amazon, Walmart, Oak Street, Leerink Partners, Affordable, Medicare, CVS Health Corp Locations: Miami , Florida, U.S, Aetna, Caremark, Brooklyn, New York City, Texas and Illinois, Woonsocket , Rhode Island

Glenview Capital, a major CVS Health shareholder, is expected to meet with company leadership on Monday to lay out proposed fixes for the struggling business, according to people familiar with the matter, a potential precursor to an activist push. A CVS spokesperson said the company "maintains a regular dialogue with the investment community as part of our robust shareholder and analyst engagement program." Jeff Smith's Starboard Value also built a stake in the company in 2019, and engaged in discussion with the company's leadership as well. The company's insurance unit includes plans by Aetna for the Affordable Care Act, Medicare Advantage and Medicaid, along with dental and vision. In its second-quarter results in August, CVS announced a leadership shakeup based on the performance and outlook of its insurance unit.

Persons: Karen Lynch, Scott Ferguson, Jeff Smith's, Lynch, Brian Kane Organizations: Glenview, CVS Health, CVS, Teva Pharmaceuticals, Street Journal, Sachem, Capital Management, Aetna, American Medical Association, Affordable, Medicare Locations: Florida Keys, United States, Centene, Glenview

☆ FDA approves Bristol Myers Squibb's schizophrenia drug, the first new type of treatment in decades
▼ + stars: | 2024-09-26 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +2 min

The Food and Drug Administration on Thursday approved Bristol Myers Squibb 's highly anticipated schizophrenia drug Cobenfy, the first novel type of treatment for the debilitating, chronic mental disorder in more than seven decades. Bristol Myers Squibb expects the twice-daily pill, which will be sold under the brand name Cobenfy, to be available in late October, executives told CNBC. Cobenfy could also be a huge long-term sales opportunity for Bristol Myers Squibb, which faces pressure to offset the potential loss of revenue from top-selling treatments that will see their patents expire. But they said the drug will likely have a slow launch, so it may not meaningfully contribute to Bristol Myers Squibb's top line in 2024 and 2025. "We've helped people, we've improved outcomes, we've provided caregivers and physicians with another tool that they can use."

Persons: Bristol Myers, Cobenfy, Guggenheim, doesn't, Andrew Miller, We've, we've Organizations: Drug Administration, Bristol, Bristol Myers Squibb, CNBC, Karuna Therapeutics Locations: U.S

☆ Novo Nordisk's diabetes drug Ozempic may lower the risk of opioid overdoses, study says
▼ + stars: | 2024-09-25 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

A box of Ozempic made by Novo Nordisk is seen at a pharmacy in London, Britain March 8, 2024. Novo Nordisk 's blockbuster diabetes drug Ozempic may decrease the risk of opioid overdoses in certain patients, demonstrating its potential as an alternative treatment for opioid use disorder, according to a new study released Wednesday. The active ingredient in Ozempic, semaglutide, was associated with a "significantly lower" opioid overdose risk than other diabetes medications in people diagnosed with both Type 2 diabetes and opioid use disorder, said the paper published in JAMA Network Open. Around 3,000 people were prescribed semaglutide injections, while the remaining patients received treatments that ranged from insulins to older GLP-1s for diabetes. That reflects a 58% lower risk of opioid overdose in patients who took semaglutide, Xu said.

Persons: Dr, Rong Xu, Eli Lilly, Lilly's, Xu Organizations: Novo Nordisk, JAMA, Case Western Reserve University, Centers for Disease Control, National Center for Drug, U.S, National Institutes of Health, Novo Nordisk's Victoza Locations: London, Britain, Novo

☆ Novo Nordisk CEO to testify at Senate hearing over high weight loss drug prices
▼ + stars: | 2024-09-24 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

Lars Fruergaard Jørgensen, CEO of Novo Nordisk, speaks during an interview in New York on Aug. 10, 2022. Novo Nordisk 's top executive is slated to face a Senate grilling on Tuesday over the high prices of the company's weight loss drug Wegovy and diabetes treatment Ozempic, as demand for both injections soars in the U.S.Novo Nordisk CEO Lars Fruergaard Jørgensen will testify at a Senate Health, Education, Labor and Pensions Committee hearing at 10 a.m. It comes roughly five months after Sen. Bernie Sanders, the Vermont independent who chairs the Senate panel, opened an investigation into the Danish drugmaker's pricing practices. Sanders contends that Novo Nordisk charges Americans substantially higher prices for its blockbuster drugs than it does for patients in other countries. Before insurance, Ozempic costs nearly $969 per month and Wegovy costs almost $1,350 per month in the U.S.

Persons: Lars Fruergaard Jørgensen, Sen, Bernie Sanders, Sanders Organizations: Novo Nordisk, Health, Education, Labor, Washington , D.C, Nordisk Locations: New York, U.S, Washington ,, Vermont, Danish, Germany

Wegovy, the blockbuster weight loss treatment from Novo Nordisk , tops the list of drugs that could soon become part of the second round of price negotiations between manufacturers and Medicare. The Biden administration last month announced new negotiated prices for the first 10 Medicare Part D drugs selected for the talks. He also pushed back on Medicare price negotiations when asked about the potential selection of Wegovy and Ozempic, calling the talks "price-setting" that will have negative consequences for drug innovation. Medicare Part D doesn't cover weight loss treatments unless they are approved and prescribed for another health condition. We'll be following the next round of Medicare drug price negotiations closely, so stay tuned for our coverage.

Persons: Wegovy, Hollie Adams, Biden, it's, Novo, Lars Fruergaard Jørgensen, Lars Jorgensen, Ozempic, Piroschka Van De Wouw, Jørgensen, Semaglutide, We'll, Annika, annikakim.constantino Organizations: Novo Nordisk, Reuters, Specialty Pharmacy, Centers, Medicare, Medicaid Services, Health, Education, Labor, Capitol, CMS, Wall Street, GSK, Astellas Pharma, Epic Systems Locations: London, Britain, Novo, Washington , U.S

☆ FTC sues drug middlemen for allegedly inflating insulin prices
▼ + stars: | 2024-09-20 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

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

☆ Pfizer says its experimental drug for deadly condition that causes appetite and weight loss in cancer patients shows positive trial results
▼ + stars: | 2024-09-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Pfizer 's experimental drug for a common, life-threatening condition that causes cancer patients to lose their appetite and weight showed positive results in a midstage trial, the drugmaker said Saturday. Patients with the condition, called cancer cachexia, who took Pfizer's treatment saw improvements in body weight, muscle mass, quality of life and physical function, according to the drugmaker. The condition affects about 9 million people worldwide, and 80% of cancer patients suffering from it are expected to die within one year of diagnosis, according to the company. Cancer cachexia is currently defined as a loss of 5% or more body weight over the past six months in cancer patients, along with symptoms such as fatigue, according to the National Cancer Institute. Allerton said a work group of experts defines a weight gain of greater than 5% as a "clinically meaningful difference in cancer patients with cachexia."

Persons: cachexia, Charlotte Allerton, Pfizer's, Allerton Organizations: Pfizer, National Cancer Institute, CNBC, European Society for Medical Oncology, The New England, of Medicine Locations: U.S, cachexia, Barcelona, Spain, The, Allerton

Gilead 's twice-yearly shot reduced HIV infections by 96% in a second large study, the company said Thursday. The positive phase three trial data on lenacapavir sets the stage for likely approval by the U.S. Food and Drug Administration for HIV prevention. The company said 99.9% of participants who received lenacapavir did not acquire HIV, with two cases among 2,180 people. Gilead in June also said lenacapavir was 100% effective at preventing HIV in another late-stage trial with cisgender women. The trial results should lead to an FDA approval and launch in the market by 2025, Yee said.

Persons: Gilead, Daniel O'Day, lenacapavir, Michael Yee, Yee Organizations: U.S . Food, Drug Administration, PrEP, Centers for Disease Control, Jefferies, CNBC, YouTube Locations: Gilead

☆ Eli Lilly to invest $1.8 billion to expand manufacturing for weight loss, diabetes and Alzheimer's drugs
▼ + stars: | 2024-09-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

A sign with the company logo sits outside of the headquarters of Eli Lilly in Indianapolis, Indiana, on March 17, 2024. Eli Lilly on Thursday said it will invest $1.8 billion to boost manufacturing for its newly approved Alzheimer's drug and highly popular weight loss and diabetes treatments, among other medicines, in Ireland. Eli Lilly also announced an $800 million facility expansion in Kinsale, Ireland. Eli Lilly has invested more than $20 billion to buy, build and expand manufacturing plants in the U.S. and Europe since 2020. Eli Lilly's main rival in the weight loss drug space, Novo Nordisk , has similarly poured in billions to boost production of its own treatments.

Persons: Eli Lilly, Eli, Edgardo Hernandez, Eli Lilly's Organizations: Novo Nordisk Locations: Indianapolis , Indiana, Ireland, Limerick, U.S, Kinsale, Europe, Novo

☆ Moderna shares plunge on plans to cut $1.1 billion in costs, launch 10 new products by 2027
▼ + stars: | 2024-09-12 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

Moderna on Thursday said it plans to cut around $1.1 billion in expenses by 2027 and win approvals for several new products as it charts a path forward after the rapid decline of its Covid business. The company aims to trim R&D spending to a range of $3.6 billion to $3.8 billion in 2027, down from an expected $4.8 billion at the end of this year, according to a release. Moderna also has five non-respiratory products across cancer, latent viruses and rare diseases that could be approved by 2027, according to the company's release. The company expects 2025 revenue to come in at $2.5 billion to $3.5 billion. From 2026 to 2028, Moderna expects a compounded annual growth rate of more than 25% as new products launch.

Persons: Moderna, Stephane Bancel, Leerink, Mani Foroohar, Foroohar, Michael Yee, Bancel Organizations: Moderna, CNBC, Jefferies Locations: New York, U.S

☆ Alzheimer's drug Leqembi promises to give patients more time, but they face a long road to treatment
▼ + stars: | 2024-09-08 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +15 min

In this article ESALY4523.T-JPBIIB Follow your favorite stocks CREATE FREE ACCOUNTHannah Yoon | The Washington Post | Getty ImagesLeqembi, an Alzheimer's drug from Biogen and Eisai , isn't a cure for the mind-damaging disease. The drug works in part by clearing toxic plaques in the brain called amyloid, a hallmark of Alzheimer's, according to its manufacturers. The Mayo Clinic's center, which began screening patients for Leqembi in October, has 50 to 60 patients currently taking the drug, according to Petersen. The Mayo Clinic's Alzheimer's center similarly stops dosing patients if ARIA appears on an MRI, according to Petersen. Meeks' neurologist, Dr. Wendell Helveston, said a follow-up MRI picked up one small area of bleeding in her brain that didn't cause any symptoms.

Persons: Hannah Yoon, Missie Meeks, Meeks, Leqembi, I'm, haven't, Julio Rojas, Patricia Waldrup, Biogen's, Alzheimer's, Brian B, Bettencourt, Tracey Collins, Collins, Alex Scott, Scott, Medicare enrollees, Neurologists, Ronald Petersen, Jay Reinstein, Michael Robinson Chávez, Petersen, Michael Irizarry, Eisai's, Eisai, Biogen, Eisai's Scott, It's, Rojas, Wendell Helveston, Bobby Pugh, Bessie Pugh, Karen Pulfer Focht Organizations: Washington Post, Getty, CNBC, University of California, San, San Francisco Health, Toronto Star, Medicare, Mayo Clinic Alzheimer's Disease Research, Georgetown University Hospital, Washington , D.C, Mayo, Leqembi, Mayo Clinic, Reuters, ARIA, Hattiesburg Clinic, Ave Locations: Biogen, Ellisville , Mississippi, U.S, San Francisco, Portland , Maine, Boston, South Mississippi, Washington ,, Mayo, Portland, South Portland, Mississippi, Eisai, Bartlett , Tennessee

☆ U.S. will again offer free at-home Covid tests starting in late September
▼ + stars: | 2024-08-23 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +1 min

The Biden administration on Friday said it will resume offering free at-home Covid-19 tests to American households in late September as the virus has gained a stronger foothold in the U.S. this summer. Americans will soon be able to use COVIDtests.gov to request four free tests, administration officials told reporters during a briefing. The tests will be able to detect the Covid variants that are currently circulating, most of which are descendants of the highly contagious omicron variant JN.1. The government's program has provided more than 1.8 billion free over-the-counter Covid tests to Americans since it started in 2021, according to O'Connell. But the government decided to reopen the program in late September because it's when more Americans begin to travel and gather indoors with loved ones.

Persons: Biden, Dawn O'Connell, Harris, O'Connell Organizations: Health, Human Services Department, Biden, Centers for Disease Control Locations: U.S

The direct-to-consumer health-care startup Ro launched a new free tool Tuesday to help patients determine whether their insurance covers a buzzy class of weight loss and diabetes drugs called GLP-1s. Ro said nearly half of the company's patients have some form of insurance coverage for a GLP-1, according to its customer data. Ro said it hopes its new tool can help patients understand their coverage options so they can decide how to pursue weight loss. The digital health company may benefit too, as it could drive some patients to join the company's GLP-1 program. It includes 24/7 messaging, one-on-one coaching with nurses and help with navigating insurance coverage.

Persons: Ro, Zachariah Reitano Organizations: Novo Nordisk, CNBC Locations: U.S

☆ Eli Lilly blows past estimates, hikes guidance as Zepbound, Mounjaro sales soar
▼ + stars: | 2024-08-08 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +6 min

Shares of Eli Lilly closed more than 9% higher on Thursday. That has forced Eli Lilly and its rival Novo Nordisk to invest heavily to boost manufacturing. "We just see unbelievable demand, and we're not even trying that hard to promote this drug," Eli Lilly CEO David Ricks told CNBC in an interview. Eli Lilly said sales were largely driven by higher demand for Mounjaro and Zepbound as production increases improved supply in the U.S. With a market cap of more than $730 billion, Eli Lilly is the largest pharmaceutical company based in the U.S.

Persons: Eli Lilly, Eli Lilly's, we're, David Ricks, Ricks, Zepbound, Mounjaro, Wegovy Organizations: U.S, Novo Nordisk, Food, CNBC, LSEG Locations: U.S, United States, Novo

☆ CVS slashes profit guidance, will cut $2 billion in expenses as insurance costs climb
▼ + stars: | 2024-08-07 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

The CVS pharmacy logo is displayed on a sign above a CVS Health Corp. store in Las Vegas, Nevada on Feb. 7, 2024. CVS Health on Wednesday slashed its full-year profit outlook again and announced a new plan to cut $2 billion in expenses over several years as higher medical costs squeeze the company and the broader U.S. insurance industry. CVS also cut its unadjusted earnings guidance to a range of $4.95 to $5.20 per share, down from at least $5.64 per share. Those ratings help Medicare patients compare the quality of Medicare health and drug plans. Medicare Advantage, a privately run health insurance plan contracted by the federal Medicare program, has long been a driver of growth and profits for the insurance industry.

Persons: Brian Kane, Karen Lynch, Thomas Cowhey, Katerina Guerraz, Lynch, LSEG, CVS, Cowhey, Caremark Organizations: CVS Health Corp, CVS Health, Aetna, CVS, Affordable, Medicare, UnitedHealth, Humana, Elevance, LSEG Locations: Las Vegas , Nevada

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