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☆ Belgium bans use of Ozempic for weight loss until summer
▼ + stars: | 2023-11-14 | by ( Marine Strauss | ) www.reuters.com time to read: +1 min

Boxes of Ozempic, a semaglutide injection drug used for treating type 2 diabetes made by Novo Nordisk, is seen at a Rock Canyon Pharmacy in Provo, Utah, U.S. March 29, 2023. Ozempic is approved to treat Type 2 diabetes but has increasingly been prescribed "off-label" to treat weight loss because it has the same active ingredient as Novo's hugely popular - and scarce - anti-obesity drug Wegovy. In Britain, doctors and prescribers, including private online pharmacies, have been ordered to stop prescribing Ozempic to people who don't have type 2 diabetes as soon as possible. They are also banned from starting new patients with type 2 diabetes on the medicine for as long as the shortage lasts. Last month, Belgium's federal medicine agency recommended doctors and pharmacists only prescribe Ozempic to diabetic patients due to the surge in demand.

Persons: George Frey, Ozempic, Marine Strauss, Mark Potter Organizations: Novo Nordisk, Pharmacy, REUTERS, Marine, Thomson Locations: Provo , Utah, U.S, Belgium, Britain

☆ FDA approves Eli Lilly's tirzepatide for weight loss, paving way for wider use of blockbuster drug
▼ + stars: | 2023-11-08 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +6 min

George Frey | ReutersThe Food and Drug Administration on Wednesday approved Eli Lilly 's blockbuster drug tirzepatide for weight loss, paving the way for even wider use of the treatment in the U.S. The FDA said the approval was based on two of Eli Lilly's late-stage trials on tirzepatide, which evaluated its effects on weight loss after 72 weeks. Higher doses of the drug were associated with even more weight loss, with a 15-milligram dose leading to 22.5% weight loss on average. The bigger issue is that many insurance companies are dropping weight loss drugs from their plans. Preliminary data is already available: A recent late-stage trial found that Novo Nordisk's weight loss drug Wegovy reduced the risk of cardiovascular events such as heart attack and stroke by 20%.

Persons: George Frey, Eli Lilly, John Sharretts, Eli Lilly's, Wegovy, Lilly, Mike Mason, Eli Lilly Diabetes Organizations: Novo Nordisk, Pharmacy, Reuters, Food, Drug Administration, U.S, FDA's Center, Drug, FDA, Obesity Locations: Provo , Utah, U.S, United States

☆ US Supreme Court to decide legality of federal ban on gun 'bump stocks'
▼ + stars: | 2023-11-03 | by ( Andrew Chung | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +4 min

Bump stocks use a semiautomatic's recoil to allow it to slide back and forth while "bumping" the shooter's trigger finger, resulting in rapid fire. The Supreme Court previously had turned away some challenges to the bump stocks prohibition. Cargill sued to challenge the rule, which required him to surrender his two bump stocks. That decision "threatens significant harm to public safety," the Justice Department said in a filing to the Supreme Court. "Bump stocks allow a shooter to fire hundreds of bullets a minute by a single pull of the trigger.

Persons: George Frey, Donald Trump, Joe Biden's, Michael Cargill, Cargill, Richard Samp, Samp, Biden, Andrew Chung, Will Dunham Organizations: REUTERS, U.S, Supreme, Trump, Alcohol, Tobacco, Firearms, Explosives, U.S . Justice Department, National Firearms Act, New Civil Liberties Alliance, Cargill, ATF, U.S . Justice, Circuit, Justice Department, National Rifle Association, Thomson Locations: Orem , Utah, U.S, Austin , Texas, Las Vegas, New Orleans, United States, New York

REUTERS/George Frey Acquire Licensing RightsBERLIN, Oct 24 (Reuters) - Several people were hospitalised in Austria after using suspected fake versions of the diabetes drug Ozempic, the country's health safety body said, the first report of harm to users in a widening European hunt for counterfeiters. Regional regulator, the European Medicines Agency (EMA), last week warned about pre-filled injection pens falsely labelled as Ozempic, which has seen surging demand for its weight-loss benefits. The maker of the drug, Novo Nordisk (NOVOb.CO), has flagged a surge in online offers of fake versions of Ozempic as well as its weight-loss drug Wegovy, both based on semaglutide. The BASG did not provide an exact number of people harmed by the fake Ozempic, or say how long-lasting the adverse effects would be on their health. That person likely did not procure the fakes from an official pharmacy, it said, warning that fake injection pens may still be in circulation.

Persons: George Frey, Ozempic, BASG, Wegovy, Miranda Murray, Ludwig Burger, Alexandra Schwarz, Angus MacSwan, Bernadette Baum Organizations: Novo Nordisk, Pharmacy, REUTERS, Rights, European Medicines Agency, EMA, Thomson Locations: Provo , Utah, U.S, Austria, Danish, Germany, Britain, British, Berlin, Frankfurt, Vienna

Homeland Security, as well as companies that help identify counterfeit products such as Israel’s BrandShield. Fake weight-loss drugs will be a key focus in the agency’s annual counterfeit medicines report, due next year, the official said. “We have counterfeit products and stolen products,” the official said. "We will look online and if we find something that infringes (obesity drug trademarks) we'll get it taken down,” said Yoav Keren, BrandShield CEO. When a consumer buys those fakes, “what you get are expired drugs, counterfeit drugs, or nothing,” he added.

Persons: George Frey, Eli Lilly, BrandShield, Novo’s Ozempic, ”, Jim Mancuso, Mancuso, Europol, Novo, Lilly, “, Ozempic, Yoav Keren, MHRA, Eli, Mounjaro, Patrick Wingrove, Aurora Ellis Organizations: Novo Nordisk, Pharmacy, REUTERS, Novo Nordisk’s, Pharmaceutical Security Institute, drugmakers Novo Nordisk, Europol, Interpol, U.S . Homeland Security, U.S . Food, Drug Administration, U.S . Department of Homeland, Coordination Center, PSI, Medicines, Healthcare, Agency, Health Organization, Ireland’s, Products Regulatory Authority, Reuters, Thomson Locations: Provo , Utah, U.S, America, Europe, Germany, Egypt, Russia, North America

☆ US senator asks 23andMe for details after reported data for sale online
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: 1 min

Attendees purchase DNA kits at the 23andMe booth at the RootsTech annual genealogical event in Salt Lake City, Utah, U.S., February 28, 2019. REUTERS/George Frey/File Photo Acquire Licensing RightsWASHINGTON, Oct 20 (Reuters) - The top Republican on the U.S. Senate's health committee has called on the chief executive of 23andMe (ME.O) to provide the panel with details after data from the family genetics website was advertised for sale on the dark web. Senator Bill Cassidy, the ranking member on the Senate Health, Education, Labor, and Pensions Committee, expressed concerns in a letter to CEO Anne Wojcicki, and asked for more information. A hacker advertised 23andMe data earlier this month, but 23andMe said in a statement that the company itself had not been breached. Reporting by Susan HeaveyOur Standards: The Thomson Reuters Trust Principles.

Persons: George Frey, Bill Cassidy, Anne Wojcicki, 23andMe, Susan Heavey Organizations: REUTERS, Rights, Republican, 23andMe, Senate Health, Education, Labor, Pensions, Thomson Locations: Salt Lake City , Utah, U.S

☆ GoodRx to offer Sanofi's insulin injection for only $35
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +1 min

A pharmacist holds a box of the drug Lantus SoloStar, made by Sanofi Pharmaceutical, at a pharmacy in Provo, Utah, U.S. January 9, 2020. This collaboration comes after Novo Nordisk (NOVOb.CO) , Eli Lilly (LLY.N) and Sanofi pledged in March to lower the list prices of many of their insulin products by 70%-78% later in the year or in 2024. Americans with insurance typically pay a fraction of the list prices for prescription drugs, but uninsured people sometimes have to pay the full price, forcing some to ration or skip taking their medicine. About 8.4 million of the 37 million people with diabetes in the U.S. use insulin, according to the American Diabetes Association. Reporting by Khushi Mandowara in Bengaluru; Editing by Shweta AgarwalOur Standards: The Thomson Reuters Trust Principles.

Persons: SoloStar, George Frey, GoodRx, Eli Lilly, Khushi, Shweta Agarwal Organizations: Sanofi Pharmaceutical, REUTERS, Sanofi, U.S ., Novo Nordisk, Novo, American Diabetes Association, Thomson Locations: Provo , Utah, U.S, Lilly, Bengaluru

☆ Corporate America weighs risks of the Ozempic effect
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +3 min

Walmart (WMT.N) expects revenues from its health and wellness products to increase in the second half of the year, mainly due to the popularity of weight-loss drugs. PepsiCo (PEP.O) Chief Financial Officer Hugh Johnston has said the company is "not seeing any impact" yet from the popularity of weight-loss drugs. Abbott Laboratories (ABT.N), which makes glucose monitoring products, has said that the market was overestimating the impact to its sales from growing popularity of the drugs. Abbott CEO Robert Ford has said that diabetes patients could end up using glucose monitors with the weight-loss drugs in the long term. DRUG DISTRIBUTORSCencora (COR.N), formerly called AmerisourceBergen, Cardinal Health (CAH.N) and McKesson (MCK.N) have flagged potential boost to revenues this year owing to the growing demand for weight-loss drugs.

Persons: George Frey, Eli Lilly's, Hugh Johnston, Johnson, Joseph Wolk, Robert Ford, Bhanvi, Mrigank Organizations: Novo Nordisk, Pharmacy, REUTERS, Walmart, PepsiCo, Abbott Laboratories, Insulet Corp, Cardinal Health, Thomson Locations: Provo , Utah, U.S, Bengaluru

☆ Court OKs Mallinckrodt restructuring, $1 billion cut to opioid settlement
▼ + stars: | 2023-10-10 | by ( Dietrich Knauth | ) www.reuters.com time to read: +4 min

Despite the previous bankruptcy settlement that resolved those litigation threats and cut $1.5 billion in debt, Mallinckrodt quickly found itself in financial trouble again due to declining sales for its key branded drugs, including Acthar Gel. As part of its previous bankruptcy, Mallinckrodt, which denied wrongdoing, agreed to pay $1.7 billion to settle about 3,000 lawsuits alleging it used deceptive marketing tactics to boost opioid sales. Unlike the opioid settlement, Mallinckrodt intends to pay the full amount due under the Acthar settlement after its second bankruptcy. Dorsey overruled an objection filed by shareholder Alta Fundamental Advisers, which had argued that Mallinckrodt improperly rushed into a second bankruptcy at the expense of equity owners. The reorganized company has a total enterprise value of about $2.95 billion, according to Mallinckrodt's financial advisor Guggenheim Securities.

Persons: Hydrocodine, Mallinckrodt, George Frey, John Dorsey, Siggi Olafsson, Mallinckrodt's, Dorsey, Dietrich Knauth, Alexia Garamfalvi, Bill Berkrot, Richard Chang Organizations: REUTERS, Tuesday, Acthar, Deerfield Partners, JPMorgan Investment Management, Fundamental Advisers, Securities, Thomson Locations: Provo , Utah, U.S, Ireland, Wilmington , Delaware

☆ Data centers are booming. Their need for power is causing utilities to retreat on green energy.
▼ + stars: | 2023-10-09 | by ( Daniel Geiger | Ellen Thomas | ) www.businessinsider.com time to read: +18 min

Katie Hobbs at Google's September announcement of a a new $600 million data center in Mesa, Arizona. The amount of electricity needed to power data centers in the U.S. is expected to more than double by 2030, according to McKinsey. "With data centers, you're going to do all of the above to have capacity to meet those loads." Utilities struggle to meet data center loads while cutting carbonThe utility-level impact of the data center industry's energy demand reaches beyond Phoenix. In preliminary documents, it has identified data centers as "the major source of load growth during 2023-2038."

Persons: Karla Moran, Moran, Katie Hobbs, you've, Terry Boston, James Glynn, Glynn, Caryn Potter, it's, OPPD, that's, David Corbin, Corbin, Valerie Plesch, Aaron Ruby, Devon Smiley, Smiley, Lee Kestler, Ruby, George Frey, Wendy Bridges, Bridges, Jill Hanks, Hanks, Potter, Meghin Delaney, Reno, Kestler, EdgeCore, Hunter Holman, Delaney, Holman Organizations: Microsoft, Google, Digital Realty, Arizona Gov, McKinsey, PJM, Columbia University's Center, Global Energy Policy, Southwest Energy Efficiency, Utilities, Omaha Public Power, Sierra Club's, The Washington, Getty, Dominion Energy, Dominion, Blackstone, KKR, APS, Phoenix, Goodyear, NV Energy, Reno, Bay Area, Silver State, Western Resource Locations: Phoenix, Salt, Mesa , Arizona, City, Mesa, U.S, Arizona, Phoenix . Omaha , Nebraska, New York, Sierra Club's Nebraska, Woodbridge , Virginia, Virginia, Nebraska, OPPD, Eagle Mountain , Utah, Brookfield, Seattle, Goodyear, Bay, Nevada, Reno, Las Vegas, North

Attendees visit the 23andMe booth at the RootsTech annual genealogical event in Salt Lake City, Utah, U.S., February 28, 2019. REUTERS/George Frey/File Photo Acquire Licensing RightsWASHINGTON, Oct 6 (Reuters) - A hacker is advertising millions of "pieces of data" stolen from the family genetics websites 23andMe, according to posts made to an online forum where digital thieves often advertise leaked data. "We do not have any indication at this time that there has been a data security incident within our systems," the statement said. A second layer of password protection, known as two-factor authentication, can also help frustrate these kinds of hacks. Reuters could not immediately find a way to contact the hacker, at least one of whose posts has since been removed from the forum.

Persons: George Frey, Raphael Satter, Chris Sanders Organizations: REUTERS, Rights, Thomson Locations: Salt Lake City , Utah, U.S

☆ Beware these debt-laden stocks breaking down under the weight of higher rates
▼ + stars: | 2023-10-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +7 min

Stocks have sold off as Wall Street accepted that the Federal Reserve might keep interest rates higher for longer to crush inflation. Corporate debt refinancings are going to start hitting profits more urgently starting in 2024, according to Wolfe Research chief investment strategist Chris Senyek. "[T]hat higher interest expense is likely to create a $5-$7/share headwind for S & P 500 operating EPS in 2024," Senyek said. Stocks have sold off as Wall Street accepted that the Federal Reserve might keep interest rates higher for longer to crush inflation. "[T]hat higher interest expense is likely to create a $5-$7/share headwind for S&P 500 operating EPS in 2024," Senyek said.

Persons: Stocks, Chris Senyek, —, Senyek, LSEG, RC Willey, George Frey, BAX Baxter, Lockheed Martin, Kellogg Organizations: Labor Department, Wall, Federal Reserve, Wolfe Research, CNBC, General Motors, United Auto Workers, GM, Whirlpool, Kellogg, RC, Bloomberg, Getty, Equity, Lockheed, AEP American Electric Power, Dominion Energy, Motors, Duke Energy, VZ Verizon Communications, Nasdaq, Stock Screener, Whirlpool Corp Locations: Draper , Utah

Bottles of prescription painkiller OxyContin made by Purdue Pharma LP sit on a shelf at a local pharmacy in Provo, Utah, U.S., April 25, 2017. The settlements, which require a judge's approval, were disclosed in papers filed on Tuesday in federal court in San Francisco. The money is on top of $641.5 million that McKinsey already paid to resolve claims by state attorneys-general. McKinsey will pay $207 million to resolve claims by counties and municipalities, and another $23 million to resolve claims by public school districts. Aelish Baig, a lawyer for the local governments, in a statement called the deal "a strong outcome for the communities harmed by this crisis".

Persons: painkiller OxyContin, George Frey, Aelish Baig, McKinsey, Joe Biden's, Purdue Pharma's, Nate Raymond, Miral Organizations: Purdue Pharma, REUTERS, Companies Mckinsey, Company, Consulting, McKinsey, Co, U.S . Centers for Disease Control, U.S, Supreme, Purdue, Thomson Locations: Provo , Utah, U.S, San Francisco, United States, Boston

New anti-obesity drugs have the potential to transform public health, while obliterating demand for products and services from the medical, food and fitness industries. Drugs developed by Novo Nordisk (NOVOb.CO) and Eli Lilly (LLY.N) appear to be the first truly effective diet treatments. In one clinical trial, patients taking Eli Lilly’s soon-to-be-launched weight-loss drug lost about 50 pounds (23 kg). Only about a third of those who started taking the drugs for obesity were still doing so a year later, according to one analysis. Yet even as Novo, Lilly and others see their addressable markets expand, some companies will see theirs shrink.

Persons: Lilly, George Frey, Eli Lilly, Eli Lilly’s, Novo, Wegovy, Kraft Heinz, Burger, LSEG, Michael Farrell, Zimmer Biomet, Smith, Peter Thal Larsen, Sharon Lam, Oliver Taslic Organizations: Novo Nordisk, Pharmacy, REUTERS, Reuters, TAM, Drugs, Alpha, Reuters Graphics Reuters, Cadbury, Mondelez, Fortune Business, Burger King, KFC, Yum Brands, Centers for Disease Control, Milken Institute, BMJ, Novo, Inspire Medical Systems, Novo Nordisk’s, WW International, Fashion, Thomson Locations: Provo , Utah, U.S, New, United States, Lilly, England

☆ Bankrupt drugmaker Mallinckrodt considers sale of opioid business - WSJ
▼ + stars: | 2023-09-19 | by ( ) www.reuters.com time to read: +2 min

Bottles of prescription painkillers Oxycodone Hydrochloride, 30mg pills, made by Mallinckrodt sit on a counter at a local pharmacy, in Provo, Utah, U.S., April 25, 2017. REUTERS/George Frey/File Photo Acquire Licensing RightsSept 18 (Reuters) - Bankrupt drugmaker Mallinckrodt is in talks with major investors about selling some or all of its business units, which could lead to its exit from the opioid business, the Wall Street Journal reported on Monday, citing people familiar with the discussions. Some investors, poised to take control through the company's ongoing bankruptcy proceedings, are suggesting Mallinckrodt break up its business units, the report said. Mallinckrodt did not immediately respond to a Reuters request for comment. Reporting by Akanksha Khushi and Jyoti Narayan in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Persons: Mallinckrodt, George Frey, Akanksha Khushi, Jyoti Narayan, Janane Organizations: REUTERS, Wall Street, Securities and Exchange Commission, Attorney's, Western, of, U.S . Drug, Administration, Thomson Locations: Provo , Utah, U.S, Ireland, United States, of Virginia, Bengaluru

[1/2] A box of Mounjaro, a tirzepatide injection drug used for treating type 2 diabetes and made by Lilly is seen at Rock Canyon Pharmacy in Provo, Utah, U.S. March 29, 2023. In four separate lawsuits filed in Florida and Texas federal courts, Eli Lilly is seeking orders barring Better Life Pharmacy, ReviveRX, Rx Compound Store and Wells Pharmacy Network from selling tirzepatide, and requesting unspecified damages. Lilly is the only company with U.S. Food and Drug Administration approval to sell tirzepatide drugs. "Defendants use Lilly’s trademark to attract customers and generate revenues and profits, including by passing off as 'Mounjaro' their own unapproved compounded drugs purporting to contain tirzepatide, and doing so for a use for which Mounjaro is not approved, namely weight loss," Eli Lilly said in the lawsuits. However, the agency has said that depending on circumstances, compounded drugs can be made and distributed with fewer restrictions when the original drug appears on its drug shortages list, which Mounjaro currently does.

Persons: Lilly, George Frey, Eli Lilly, Ozempic, Mounjaro, Patrick Wingrove, Bill Berkrot Organizations: Pharmacy, REUTERS, Wells Pharmacy, U.S . Food, Drug Administration, Novo Nordisk, U.S, FDA, Thomson Locations: Provo , Utah, U.S, Florida, Texas, Indianapolis, Arizona , Florida, Georgia, Minnesota, South Carolina, Utah

☆ Ozempic, Wegovy may curb drinking, smoking and other addictive behaviors – here's what we know
▼ + stars: | 2023-09-10 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +7 min

Jaap Arriens | Nurphoto | Getty ImagesHeather Le Biller shed 9 pounds within the first week of taking Novo Nordisk 's blockbuster diabetes drug Ozempic – and then even more as she continued treatment. That means it could take years before the Food and Drug Administration and other regulators worldwide approve drugs like Ozempic and Wegovy as addiction treatments. Jerlhag and her colleagues at the University of Gothenburg in Sweden have studied the effect of GLP-1s on addictive behaviors for more than a decade. "The mechanism in the brain that regulates overeating is important in regulating addictive behaviors as well," Leggio told CNBC. Still, NIDA's Leggio advises against using GLP-1s off-label to reduce addictive behaviors, "simply because there's not enough evidence in humans that they work."

Persons: Jaap Arriens, Heather Le Biller, Ozempic –, Le Biller, they're, Angela Fitch, Brandon Bell, Dr, Lorenzo Leggio, semaglutide, –, Eli Lilly, pharmacologist, Jerlhag, George Frey, NIDA's, Leggio, Steven Batash, Batash, NIDA's Leggio Organizations: Nurphoto, Novo Nordisk, CNBC, Wegovy, Obesity Medicine Association, and Drug Administration, Pharma, National Institute on Drug, University of Gothenburg, Company, Reuters, Brigade, Getty Locations: Riga, Latvia, France, Ozempic, Novo, U.S, Italian, Austin , Texas, Sweden, Provo , Utah, Queens , New York

☆ Big pharma's blockbuster obesity drug battle is just getting started, and it's headed for $100 billion
▼ + stars: | 2023-09-09 | by ( Bob Woods | ) www.cnbc.com time to read: +13 min

In this article LLYNOVO.B-DK Follow your favorite stocks CREATE FREE ACCOUNTOzempic drug to treat diabetes. Since Wegovy and Mounjaro have been on the market, "neither company can make the drug fast enough," she said. The Food and Drug Administration approved Ozempic in 2017 for diabetes and Wegovy in 2021 to treat obesity. Mounjaro, introduced in 2022 to treat diabetes, contains GLP-1, plus GIP, a similar appetite suppressor that can lead to weight loss. Coverage for Mounjaro ($1,023 per month) to treat diabetes varies based on an individual's insurance plan and drug benefits.

Persons: Eli Lilly, Novo's, Lilly's, Emily Field, Lilly, David Ricks, CNBC's Jim Cramer, Ozempic, Novo, Mounjaro, George Frey, Lars Fruergaard Jorgensen, Wajahat Mehal, Tom Carper, Bill Cassidy of, We've, Camilla Sylvest, there's, Sylvest, Cowen, What's, It's, Mike Mason, Amgen, Emmanuel Papadakis Organizations: Novo Nordisk, Pfizer, Amgen, Barclays, Nordisk, Drug Administration, Mounjaro, SVB Securities, Food and Drug Administration, Pharmacy, Reuters Novo, Novo, Wegovy, European Union, Medicare, Yale School, Metabolic, Congressional Black Caucus, CDC, pharma, American Medical Association, , Big Pharma, American Diabetes Association, Deutsche Bank Locations: Lilly, Denmark, Provo , Utah, U.S, European, Delaware, Bill Cassidy of Louisiana, Novo, Kalundborg, Hillerød, Boone County , Indiana

☆ US senators push drugmakers for details on low-cost insulin programs
▼ + stars: | 2023-08-31 | by ( Patrick Wingrove | ) www.reuters.com time to read: +2 min

Democratic Senators Maggie Hassan and Tina Smith sent a letter asking the drugmakers for information on eligibility criteria for the programs, including whether a patient’s insurance status or income barred them from joining, and the steps insulin users had to take to sign up. Novo, Lilly and Sanofi, which account for 90% of the U.S. insulin market, pledged in March to lower the list prices of many of their insulin products by 70%-78% later this year or in 2024. The White House on Tuesday announced that a Novo insulin was among the 10 high-cost prescription drugs selected for the first-ever price negotiations by the U.S. Medicare health program that covers 66 million people. Hassan and Smith argued that to enroll in the drugmakers’ insulin programs, patients had to go through a lengthy and complicated process that required them fill out five to 10 pages of documentation and wait an unknown amount of time for approval. Around 8.4 million of the 37 million people in the United States with diabetes use insulin, according to the American Diabetes Association.

Persons: George Frey, Eli Lilly, Maggie Hassan, Tina Smith, Lilly, Biden, Elizabeth Warren, Hassan, Smith, Patrick Wingrove, Bill Berkrot Organizations: Novo Nordisk Pharmaceutical, REUTERS, Novo Nordisk, Sanofi, Democratic, U.S, Democrat, American Diabetes Association, Thomson Locations: Provo , Utah, U.S, United States

[1/2] A pharmacist holds a bottle of the drug Eliquis, sold by Bristol Myers Sqibb and Pfizer at a pharmacy in Provo, Utah, U.S. January 9, 2020. REUTERS/George Frey/File Photo Acquire Licensing RightsAug 29 (Reuters) - The U.S. government on Tuesday selected the first 10 drugs, including the big-selling blood thinner Eliquis from Bristol Myers Squibb (BMY.N) and Pfizer (PFE.N) , that will be subject to the first-ever Medicare price negotiations, part of President Joe Biden’s Inflation Reduction Act (IRA) that drugmakers and industry groups have challenged in court. At least eight lawsuits were filed between June and late August seeking to block the price negotiation, arguing that the law and forced price cuts would violate various amendments to the U.S. constitution. The following are key details of the lawsuits:Reporting by Manas Mishra and Sriparna Roy in Bengaluru; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Bristol Myers Sqibb, George Frey, Joe Biden’s, Manas Mishra, Sriparna Roy, Bill Berkrot Organizations: Bristol, Pfizer, REUTERS, U.S, Bristol Myers Squibb, Thomson Locations: Provo , Utah, U.S, Bengaluru

☆ England to rollout world-first seven-minute cancer treatment jab
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

Boxes of Tecentriq from Genentech are seen at the Huntsman Cancer Institute at the University of Utah in Salt Lake City, Utah, U.S., July 22, 2022. REUTERS/George Frey/File Photo Acquire Licensing RightsAug 29 (Reuters) - Britain's state-run national health service will be the first in the world to offer an injection that treats cancer to hundreds of patients in England which could cut treatment times by up to three quarters. The treatment is currently offered by transfusion to NHS patients with a range of cancers, including lung, breast, liver and bladder. NHS England said it expected the majority of around 3,600 patients starting the treatment of atezolizumab every year in England to switch onto the time-saving injection. But added that patients receiving intravenous chemotherapy in combination with atezolizumab may remain on the transfusion.

Persons: George Frey, Dr Alexander Martin, atezolizumab, Marius Scholtz, Genentech, Roche, Farouq Suleiman, Sandra Maler Organizations: Huntsman Cancer Institute, University of Utah, REUTERS, Medicines, Healthcare, Agency, Foundation Trust, Roche Products, Thomson Locations: Genentech, Salt Lake City , Utah, U.S, England, West Suffolk

☆ White House inflicts Big Pharma ills
▼ + stars: | 2023-08-28 | by ( ) www.reuters.com time to read: +2 min

If just one or two big medications were going to be renegotiated, the industry could shoulder the change. The IRA, signed into law last year, allows Medicare to negotiate prices for some of its most costly drugs. Though specificities are unclear, a quick look at one of the biggest sellers under the program, blood thinner Eliquis, suggests Big Pharma could shoulder a discount. At 11 times earnings over the next 12 months, that’s less than 10% of the firm’s $205 billion market capitalization. Put this on the same multiple of 11 times, and it would be a $275 billion hit to the industry.

Persons: George Frey, Biden, Robert Cyran, Xpeng’s Didi, Lauren Silva Laughlin, Sharon Lam Organizations: Pfizer Pharmaceuticals, REUTERS, Reuters, Big, Medicare, Pfizer, Bristol, Myers Squibb, Congressional, Office, X, Thomson Locations: Provo , Utah, U.S

☆ Mallinckrodt second bankruptcy would cut $1 billion from opioid settlement
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The agreement announced Wednesday would reduce Mallinckrodt's debt by about $1.9 billion and cancel existing equity shares. The new deal would leave opioid creditors with $1 billion less than the $1.7 billion settlement that Mallinckrodt agreed to pay as part of its 2022 exit from the company's earlier bankruptcy. Mallinckrodt failed to make a $200 million payment to the opioid trust due in June, prompting the company to launch a negotiation with its stakeholders. Mallinckrodt said that its current level of creditor support should allow the company to complete its second bankruptcy by the end of 2023. Drug manufacturers, drug distributors and pharmacy chains have agreed to pay more than $50 billion in settlements to resolve lawsuits related to the U.S. opioid crisis.

Persons: Hydrocodine, Mallinckrodt, George Frey, Siggi Olafsson, Pratik Jain, Mariam Sunny, Khushi, Dietrich Knauth, Maju Samuel, Shinjini Ganguli, Alexia Garamfalvi Organizations: REUTERS, Thomson Locations: Provo , Utah, U.S, Ireland, Bengaluru, New York

☆ Weight loss drugs boost sales at retail pharmacies, but they may not help profits much
▼ + stars: | 2023-08-21 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +5 min

George Frey | ReutersDrugmakers aren't the only ones feeling the impact of the weight loss industry gold rush. Retailers with pharmacy businesses, such as Walmart , Kroger and Rite Aid , said increased demand for prescription weight loss drugs helped boost sales for the second quarter. Are weight loss drugs profitable? A selection of injector pens for the Saxenda weight loss drug are shown in this photo illustration in Chicago, Illinois, U.S., March 31, 2023. For one, branded drugs don't directly compete with other medications because they have patent protections.

Persons: George Frey, Reuters Drugmakers, Arun Sundaram, it's, Elon Musk, Eli Lilly, Doug McMillon, Matthew Schroeder, Schroeder, Rodney McMullen, CFRA Research's Sundaram, Michael Lasser, Jim Vondruska, USC's Schaeffer Organizations: KR NOVO.B, Novo Nordisk, Pharmacy, Reuters, Walmart, Kroger, Rite, CFRA Research, CNBC, Nordisk, Elon, Pfizer, UBS, USC's, USC's Schaeffer Center for Health, Association Locations: Provo , Utah, U.S, GLP, Chicago , Illinois

"We are confident in the legality of our nearly universally supported plan of reorganization, and optimistic that the Supreme Court will agree," the company added. Members of the Sackler family have denied wrongdoing but expressed regret that OxyContin "unexpectedly became part of an opioid crisis." They said in May that the bankruptcy settlement would provide "substantial resources for people and communities in need." In a court filing, the administration told the Supreme Court that Purdue's settlement is an abuse of bankruptcy protections meant for debtors in "financial distress," not people like the Sacklers. According to the administration, Sackler family members withdrew $11 billion from Purdue before agreeing to contribute $6 billion to its opioid settlement.

Persons: George Frey, Joe Biden's, Sackler, OxyContin, Biden, John Kruzel, Andrew Chung, Dietrich Knauth, Will Dunham Organizations: Purdue Pharma, REUTERS, WASHINGTON, U.S, Supreme, Purdue, . Trustee, The, Circuit, Thomson Locations: Provo , Utah, U.S, Stamford , Connecticut, Washington, New York

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