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☆ You can now find Costco-style low prices for generic prescription drugs at Kroger in a partnership with Mark Cuban's online pharmacy
▼ + stars: | 2023-07-20 | by ( Alex Bitter | Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Kroger is working with Mark Cuban's Cost Plus Drugs to offer some prescriptions at its pharmacies. Cost Plus customers can now pick up their drugs at one of 2,000 Kroger pharmacies. Patients who get their drugs through Cost Plus Drugs can now pick them up at one of 2,000 stores operated by Kroger, Cost Plus tweeted on Wednesday. He started Cost Plus in 2022. Cost Plus Drugs buys drugs directly from the manufacturer and ships them to patients at a 15% markup plus pharmacy fees.

Persons: Kroger, Mark Cuban's, Mark, — Mark, It's Organizations: Service, Kroger, — Mark Cuban, Plus Drug, Dallas Mavericks NBA, Costco, Walmart, Albertsons, Intelligence Locations: Wall, Silicon, Ralph's, Cuban

☆ Focus: Biotech firms target weight-loss drugs without Wegovy's side-effects
▼ + stars: | 2023-07-07 | by ( Maggie Fick | ) www.reuters.com time to read: +8 min

[1/7] Rebecca Vogt, a former user of the weight-loss drug Wegovy, poses for a photo, in Irving, New York, U.S., June 20, 2023. It leads to 22.5% weight loss, according to a Lilly trial published last year. An even earlier stage biotech firm, Antag Therapeutics in Denmark, told Reuters that the ballooning obesity market has improved its fundraising prospects. It curbs appetite by restoring the natural release of GLP-1 and other hormones, without causing nausea, Phase I data showed. The effect of the drug on weight loss is being tested in the Phase II study.

Persons: Rebecca Vogt, Handout, Wegovy, Vogt, Jayson Dallas, Noushin Irani, Mounjaro, Eli Lilly's, Lilly, Andrew Levin, Rivus, Mark Fineman, Ashish Nimgaonkar, Nimgaonkar, Alexander Sparre, Ulrich, Tim Opler, Opler, Stifel, Maggie Fick, Josephine Mason, Daniel Flynn Organizations: REUTERS, Nordisk's, Food and Drug Administration, U.S, Reuters, Rivus Pharmaceuticals, Investors, Deutsche, FDA, Pfizer, Capital Management, Rivus, Therapeutics, Johns Hopkins University, pharma, Antag Therapeutics, Aphaia Pharma, Thomson Locations: Irving , New York, U.S, GLP, Buffalo , New York, United States, Dallas, Baltimore , Maryland, Denmark, Switzerland

☆ Weight loss without Wegovy’s side-effects on biotech firms' radar
▼ + stars: | 2023-07-07 | by ( Maggie Fick | ) www.reuters.com time to read: +8 min

It leads to 22.5% weight loss, according to a Lilly trial published last year. The effect achieves far more weight loss than predecessors. An even earlier stage biotech firm, Antag Therapeutics in Denmark, told Reuters that the ballooning obesity market has improved its fundraising prospects. It curbs appetite by restoring the natural release of GLP-1 and other hormones, without causing nausea, Phase I data showed. The effect of the drug on weight loss is being tested in the Phase II study.

☆ 4 things making it harder for Janet Yellen to repair the US-China relationship
▼ + stars: | 2023-07-06 | by ( Laura He | ) edition.cnn.com time to read: +9 min

The global economy stands to gain if Washington and Beijing can mend fences, but analysts say this appears unlikely. Here are four things likely to make it harder for Yellen to repair US-China ties, and one thing keeping the relationship going. Sequoia’s executives said in a statement that it has become “increasingly complex” to run a decentralized global investment business. On Wednesday, US pharmaceutical firm Moderna (MRNA)signed a deal to make its first major investment in China. “Both sides are ramping up commercial restrictions in the name of national security and national interests,” she said.

Persons: Janet Yellen, China, ” Wei Jianguo, ”, Anna Ashton, Biden, Beijing’s, Wei, Capvision, Xi Jinping’s, “, Li Qiang, Xi, Alex Capri, ” Ashton, —, Jennifer Hansler, Wayne Chang, Bryan Mena Organizations: Hong Kong CNN, Eurasia Group, Micron Technology, China Daily, Analysts, China, Capvision, Bain & Company, Group, Forrester Research, Ontario, Republicans, Hawks, Shanghai Cooperation Organization, Xinhua, US Commerce Department, “, National University of Singapore Business School, Moderna Locations: Hong Kong, Beijing, United States, China, Chinese, Washington, Japan, Europe, Shanghai, New York, decouple, Moscow, Ukraine, Russia, Taiwan, Tianjin

The ruling blocks proposed Otezla generics until 2028. A spokesperson for Sandoz said Wednesday that the company was pleased with the decision allowing for Otezla generics in 2028 instead of 2034. Celgene sued several drugmakers over their proposed Otezla generics starting in 2018, and 17 of the 19 lawsuits have been settled since. U.S. District Judge Michael Shipp said in 2021 that Switzerland-based Sandoz and India-based Zydus' generics would infringe three Amgen patents. The case is Amgen Inc v. Sandoz Inc, U.S. Court of Appeals for the Federal Circuit, Nos.

☆ Pfizer CEO says it will be able to deliver Seagen's cancer therapy at a scale not seen before with $43 billion deal
▼ + stars: | 2023-03-13 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Pfizer CEO Albert Bourla on Monday said the pharmaceutical giant will be able to deliver Seagen's cancer therapy to the world "at a scale that has not been seen before" with its $43 billion acquisition. Seagen will bulk up Pfizer's cancer treatment portfolio, bringing four approved cancer therapies with combined sales of nearly $2 billion in 2022. "These medicines are on a strong growth trajectory, with significant lifecycle programs anticipated to drive continued impact uptake and growth," Bourla said on a conference call earlier Monday morning. Seagen expects to generate about $2.2 billion in revenue this year, representing 12% year-over-year growth, according to a Pfizer press release. Pfizer added that Seagen could contribute more than $10 billion in risk-adjusted sales by 2030, "with potential for significant growth" beyond that year.

Companies Bayer AG FollowNEW YORK, March 9 (Reuters) - Bayer AG (BAYGn.DE) plans to spend $1 billion on drug research and development in the U.S. this year as it works to double its sales in the country by the end of the decade, Bayer's top U.S. pharmaceutical executive told Reuters. "It's time for us to double down on the U.S.," Guth said, noting that Bayer plans to sell the drugs it is developing itself in the country, rather than partner with U.S. companies like it has in the past. Bayer is looking to build up its portfolio of new drugs as it hopes to improve share prices, which have been hit by concerns over litigation surrounding weedkiller Roundup and a lack of trust in the company's leadership. Guth said he expects peak sales of 12 billion euros from cancer drug Nubeqa, kidney medication Kerendia, and two of its top pipeline assets, experimental stroke drug asundexian and experimental women's health drug elinzanetant. Reporting by Michael Erman; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ CVS and Walmart cut pharmacy hours, citing staffing shortages
▼ + stars: | 2023-01-27 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —An apparent shortage of pharmacists is forcing CVS and Walmart to reduce the hours of its pharmacies, as they close earlier in thousands of locations. Beginning in March, both retailers will either cut or shift the hours that their pharmacies operate in response to staffing shortages and waning consumer demand as the height of the Covid-19 pandemic recedes. Walmart, which has pharmacies in most of its 4,600 US locations, will close them two hours earlier, at 7 pm. CVS will shift or cut hours at about 6,000 US pharmacies. In a statement to CNN, Walmart said the new hours are the result of “direct feedback” from its pharmacy employees and customers.

☆ Pharma CEOs say Mark Cuban's effort to upend the drug industry is 'a really great idea' but will be difficult to pull off
▼ + stars: | 2023-01-25 | by ( Yeji Jesse Lee | Andrew Dunn | ) www.businessinsider.com time to read: +7 min

Biopharma CEOs say his company Cost Plus Drugs could remove costs from the distribution system. Cuban told Insider in an email that he believed the company's pricing transparency was "an absolute positive for patients." The company started its pharmacy services last year and quickly racked up over 1 million accounts, Cuban told Insider recently. Cost Plus Drugs is focused on bringing down the price of generic medications, which no longer have patent protections but can still be expensive. Cuban told Insider that EQRx was in a "different business" than what he's attempting to build out.

☆ Analysts love these stocks that are flush with cash — giving one over 75% upside
▼ + stars: | 2023-01-22 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

"We prefer companies generating cash rather than those that need capital to grow. The higher the free cash flow yield, the better a company's position to meet its debt obligations. A company with a high free cash flow is also able to access cash more quickly in the event of an emergency or opportunity. Using FactSet data, CNBC Pro screened for stocks that boast lots of cash and could be well positioned for a rocky year. U.S.-listed Chesapeake Energy Corporation was the only energy stock to appear on the screen, with its free cash flow yield at nearly 14%.

☆ FDA expected to decide on Pfizer RSV vaccine for older adults by May 2023
▼ + stars: | 2022-12-07 | by ( Spencer Kimball | ) www.cnbc.com time to read: +2 min

The Food and Drug Administration is expected to decide by spring whether to approve Pfizer's vaccine to prevent respiratory syncytial virus, or RSV, in adults ages 60 and older. Pfizer, in a statement Wednesday, said the FDA has accepted its RSV vaccine candidate for review under an expedited process that reduces the approval process by four months. RSV is a common respiratory virus that causes cold like symptoms in most people, but it can result in severe illness in infants and older adults. Between 60,000 and 120,000 older adults are hospitalized with RSV every year and 6,000 to 10,000 older adults die from the virus. Pfizer's vaccine candidate was about 86% effective in preventing severe lower respiratory tract illness, defined as three or more symptoms.

☆ Credit Suisse calls this group the ultimate 'refuge from stormy seas' with a recession ahead
▼ + stars: | 2022-11-18 | by ( John Melloy | ) www.cnbc.com time to read: +2 min

The firm said investors still need to be selective in the space, however, naming two top ideas in Merck and AbbVie . Credit Suisse says U.S. pharma as a group is trading at a price-earning ratio of 16 times to 17 times while defensive sectors utilities and consumer staples have 18-20 P-E ratios, on average. For AbbVie, it sees 11% upside from here, noting it has the "highest dividend yield among peers." "As such, we believe large-cap biopharma should remain a solid outperformer in the coming months, with portfolios requiring diversity in the defensive names. If markets rally on further clarity, we see our higher-growth names, such as Eli Lilly, being insulated from the rotation away from defensives and back into growth names."

☆ Pfizer CEO reveals 2030 growth plan as company faces up to $18 billion revenue hit from generics
▼ + stars: | 2022-11-01 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Bourla said Pfizer is staring down an expected loss of between $16 billion and $18 billion in revenue from 2025 through 2030 as patent protections for some of its bestselling drugs expire. "We recognize that some are questioning Pfizer's longer-term growth prospects," Bourla told analysts during Pfizer's third-quarter earnings call Tuesday. Taken together, these five drugs represented about 40% of Pfizer's third-quarter revenue this year when the Covid vaccine and the antiviral treatment Paxlovid are excluded. Pfizer's RSV vaccine candidates for older adults and infants have the potential to generate billions in revenue, Bourla said. It would be the only RSV vaccine in the U.S. that protects infants by giving the shot to the mother, he said.

☆ Frustrated pharmacists are opting out of the insurance system, saving some customers hundreds of dollars a month
▼ + stars: | 2022-08-19 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Headshot_Small.Png | Adiel Kaplan | ) www.nbcnews.com time to read: +14 min

Hux has owned Pickerington Pharmacy, which takes nearly every kind of insurance, since 2016. For some drugs, especially name-brand medications without generic alternatives, the insurance pharmacy, Pickerington, will most likely be the better bet. For other drugs, particularly those that have recently gone generic, it will be the all-cash pharmacy, Freedom. Or is it the noninsurance world?”For Kitchen, a retired registered nurse with arthritis and fibromyalgia, it was the noninsurance world of Freedom Pharmacy. By cutting out the middlemen, Freedom Pharmacy is far cheaper to operate.

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