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☆ Crypto exchange C3 aims to fix a big flaw exposed in the collapse of FTX. Its cofounders just raised $6 million from hedge fund Two Sigma's venture arm.
▼ + stars: | 2023-02-10 | by ( April Joyner | ) www.businessinsider.com time to read: +4 min

The crypto exchange C3 has raised $6 million in seed funding led by Two Sigma Ventures. A series of bankruptcies — FTX, BlockFi, Celsius, Voyager, Genesis — has exposed major flaws within several crypto financial institutions. Michel Dahdah believes his company, the crypto exchange C3, can fix one big challenge these crypto companies face: the custody question. C3 has raised $6 million in seed funding led by Two Sigma Ventures, the venture-capital arm of the hedge fund Two Sigma Investments. In the traditional finance world, custody and exchange are separate functions, and crypto needs to follow suit, he said.

☆ U.S. government to start imposing inflation penalties on drugmakers in 2025
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Russell Boyce/IllustrationWASHINGTON, Feb 9 (Reuters) - The U.S. government will begin imposing penalties in 2025 on drug companies that charge its Medicare program prices that rise faster than inflation, the Centers for Medicare & Medicaid Services said on Thursday. The agency issued initial guidance on how it will implement a provision in President Joe Biden's signature Inflation Reduction Act that penalizes drugmakers for raising prices faster than inflation. "The Medicare Prescription Drug Inflation Rebate Program will require drug companies with excessive increases in drug prices to pay rebates to Medicare," CMS Administrator Chiquita Brooks-LaSure said in a statement. Companies that raise prices higher than the inflation rate will be required to pay Medicare the difference in the form of a rebate. Price increases for half of all drugs covered by Medicare outpaced inflation from 2019 to 2020, which averaged 1% that year.

Feb 7 (Reuters) - Centene Corp (CNC.N) on Tuesday said profit at its fast-growing Medicare Advantage (MA) business will take a beating in 2024 due to a sharp cut in its rating by a U.S. federal agency and likely lower-than-expected government payouts to health insurers. Centene does not expect its MA business to grow next year and it will likely "shrink a little", Chief Financial Officer Andrew Asher said in a post-earnings conference call. Asher said the company expects negative profit margins in the business in 2024 temporarily, after CMS cut star rating for Centene's MA plans in October. MA plans are government-supported insurance plans that private companies offer people over 65 years of age. Revenue from Centene's Medicare health insurance business rose about 24% to $5.45 billion from a year earlier.

☆ The 7 most in-demand tech skills for freelancers—many pay more than $125 an hour
▼ + stars: | 2023-02-05 | by ( Gili Malinsky | ) www.cnbc.com time to read: +2 min

"The skills gap is still sharp, it's still a significant gap," says Vicki Salemi, career expert at Monster. "Employers are struggling to find labor in this tight labor market" that can fill various tech needs. CMS developmentA content management system, CMS, is a software that helps its users manage their various content, from creating it to publishing it. CMS developers charge as much as $105 per hour. They ensure the software works correctly in various scenarios and note any bugs or issues along the way.

☆ Morning Bid: Fed fillip, double trouble, triple A
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +4 min

It looks less like fighting the Fed, than a mild disagreement. Powell didn't endorse that market view - which now has just one more quarter point rise to a terminal rate under 4.9% by May and 40 basis points of cuts from there by December. But he seemed ambivalent about investors' more optimistic take on disinflation and indicated the central bank was increasingly keeping its options open about a 'couple of hikes'. Meta's stock boomed as its earnings update showed stricter cost controls and a new $40 billion share buyback. With the risk around the BoE's split monetary policy council for a smaller quarter point move, it was the euro that looks set to emerge the winner of the three big central bank events.

☆ Humana is set to soar in 2023 after delivering strong Q4
▼ + stars: | 2023-02-01 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Health insurer Humana (HUM) on Wednesday reported a stellar fourth quarter and provided a robust full-year outlook, setting the Club holding up for significant growth in 2023. Outlook Management guided for full year 2023 adjusted earnings-per-share to be at least $28, in line with analysts' forecasts. The 2023 benefits expense ratio range of 86.3% to 87.3% is slightly above the 86.3% ratio predicted by analysts, at the midpoint. But given the company already expects to be above the industry growth rate in 2023, Humana is ahead of expectations — bolstering the Club's confidence in the achievability its long-term outlook. But Humana's management only said they're still "reviewing the final rule and considering its impact."

☆ Here are JPMorgan's top stock picks heading into February
▼ + stars: | 2023-02-01 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

JPMorgan added fresh names to its top stock picks for February, including a medical tech company that's rallied sharply to begin the year. For February, JPMorgan added five new names to its Focus List: Cenovus Energy , CMS Energy , Rogers Communications , Stryker and Treace Medical Concepts . The medical tech stock is up 12% year to date. JPMorgan said new additions CMS Energy and Cenovus Energy are uniquely positioned within the industry, according to the note. Amazon's stock fell more than 30% during the past 12 months, but it has rallied to start the year, up more than 24% in 2023.

☆ Market rally since October is broadening out — listen to 'The Homestretch'
▼ + stars: | 2023-01-31 | by ( ) www.cnbc.com time to read: +8 min

WE ARE IN A BULL MARKET AND IWANT TO BUY. A LOT OF PEOPLE SAY IT IS NOTREAL, BUT PUB POWER IS NOT REAL,BUT LINDY IS REAL. >> AND YES, I WAS UPSET THAT WECOULDN'T BUY IT BECAUSE OF THEWAY THAT THE -->> THE WAY THAT RESTRICTIONSWERE. AND YOU CAN BUY IT FROM NOW TOTEND OF THE DAY, BECAUSE THIS ISTHE HOMESTRETCH, AND THEANALYSTS WILL BE COMING UP HARDABOUT IT, AND IT DOES MATTER. >> AND THIS A NEW MARKET SINCEOCTOBER, AND BROADENING, ANDWHEN YOU GET THE SELL-OFFS LIKEYESTERDAY, YOU HAVE TO LISTEN TOWHAT WE ARE THINKING OF BUYINGAND CATERPILLAR TODAY, AND PUTTHE MONEY TO WORK.

☆ FDA doesn't see increased risk of stroke for seniors who received Pfizer's omicron booster
▼ + stars: | 2023-01-26 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

The CDC's Vaccine Safety Datalink, which monitors serious reactions to vaccines, showed a possible risk of stroke in late November. The FDA launched an extensive review of federal data after investigators at the Centers for Disease Control and Prevention detected a possible risk of stroke for seniors who received Pfizer's booster. The Food and Drug Administration hasn't found an increased risk of stroke for seniors who've received Pfizer's omicron booster shot, a federal health official said Thursday. The FDA reviewed CMS data from 4.25 million seniors who received Pfizer's omicron booster and did not identify any increased stroke risk. The Department of Veterans Affairs has also conducted preliminary review of its database and did not identify an increased stroke risk, Forshee said.

☆ Here's where to look for the next developments in the fight against Alzheimer's disease
▼ + stars: | 2023-01-17 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +10 min

The Centers for Disease Control and Prevention estimates 5.8 million Americans were living with the disease in 2020 . BIIB 6M mountain Biogen's stock is trading well above its lows Leqembi treats Alzheimer's disease by targeting amyloid-beta plaques in the brain. Attention shifts to Eli Lilly Shares of other Alzheimer's drug developers have often mirrored Biogen's moves. Small drug developers Smaller Alzheimer's drug developers have also been boosted by research developments. Still in an early stage of its research, Prothena has traded as a proxy for developments in Alzheimer's treatment.

“Mission Hospital used to be where everyone would go if they wanted good care,” Jaquins said, reflecting on her previous experiences with the health care system. Sue Fischer is a longtime HCA employee who’s concerned about patient care in her facility. “We were a great system as Mission Health and we’re an even better system as HCA Mission Health,” she said. “Delays in care is the biggest patient care issue I see because of staffing,” Hernandez said. According to the CMS ranking system, Mission Hospital currently holds an above-average overall quality rating — four stars out of a possible five.

☆ Big Investors Expected to Scrap ‘Dark Green’ Labels on More EU Funds
▼ + stars: | 2023-01-10 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

SFDR rules require EU-marketed funds to be designated as one of three categories: “dark green” Article 9 funds, which aim for sustainability or decarbonization; “light green” Article 8 funds, which advance one or more environmental, social and governance objectives; and Article 6 funds, which don’t have any specific ESG-related objectives. Upgrades and downgrades in classifications typically occur with “similar frequency,” but since September, more than 80% of reclassifications have moved Article 9 funds to Article 8, analysts at Jefferies said in December. At the end of November, there were around $452 billion in Article 9 funds, nearly $4.2 trillion in Article 8 funds and $3.9 trillion in Article 6 ones. In November, BlackRock moved 16 funds representing around $26 billion to Article 8 from Article 9, but also retained 13 dark-green funds valued at about $13 billion. Another challenge is for fund managers to gather and report required ESG data—such as greenhouse-gas emissions, gender pay gaps and water use—for individual stocks and bonds in a fund.

☆ CMS limiting coverage of Alzheimer's drug not a 'fixed' policy, says FDA's Robert Califf
▼ + stars: | 2023-01-10 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCMS limiting coverage of Alzheimer's drug not a 'fixed' policy, says FDA's Robert CaliffCNBC's Meg Tirrell and Dr. Robert Califf, FDA commissioner, joins 'Power Lunch' to discuss Biogen's Alzheimer's drug and the health care sector.

☆ Britain to push ahead with readying ground for a digital pound
▼ + stars: | 2023-01-10 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

LONDON, Jan 10 (Reuters) - Getting the design of a digital pound right is a bigger priority than a rapid launch, Britain's Financial Services Minister Andrew Griffith said on Tuesday. China has pushed ahead with piloting a digital yuan and the European Central Bank is studying a digital euro, piling pressure on Britain to do the same and keep abreast of advances in financial technology. The finance ministry is due to launch in the coming weeks a public consultation on the attributes of a digital pound. A digital pound raised many public policy issues, he said. The first case use of a digital pound would probably be in the settlement of wholesale financial transactions, he added.

A newly approved drug intended to slow the progression of Alzheimer’s disease offers patients hope, but it will come with a steep price tag: $26,500 a year. That drug initially cost $56,000 per year before Biogen slashed the price in half, to $28,000 annually. Dr. David Rind, the institute's chief medical officer, said an appropriate cost for the drug is $8,500 to $20,600 a year. John Domeck, 60, of Aurora, Ohio is currently enrolled in a phase 3 clinical trial testing Leqembi. But right now, the clinical trial for Leqembi shows that the drug provides "modest efficacy at a big, big price," Caplan said.

☆ Eli Lilly has spent years and billions of dollars in search of an effective Alzheimer's drug. But success is not all or nothing for the stock
▼ + stars: | 2023-01-09 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +22 min

Eli Lilly (LLY) has spent decades researching Alzheimer's disease without successfully bringing to market a treatment that slows the memory-destroying condition. For Eli Lilly as a company, an Alzheimer's drug is an important pursuit. Lilly's Alzheimer's history Eli Lilly's "first real foray" into Alzheimer's came in the 1990s, according to Dr. John Sims, Eli Lilly's head of medical development for donanemab. Financial implications for Lilly LLY mountain 2021-10-08 The Club started a new position in Eli Lilly (LLY) in October 2021. The Eli Lilly logo is shown on one of the company's offices in San Diego, California, September 17, 2020.

☆ Most Alzheimer’s patients would pay up to $26,500 per year for new treatment Leqembi
▼ + stars: | 2023-01-09 | by ( Spencer Kimball | ) www.cnbc.com time to read: +5 min

Few seniors with early Alzheimer's disease will have access to the new treatment Leqembi due to its high cost and very limited coverage by Medicare. "Even with Medicare coverage, beneficiaries would still be responsible for 20% coinsurance, and that's not a trivial amount." An investigation by lawmakers in the House concluded that the FDA approval process for Aduhelm was "rife with irregularities." "It's not going to be widely available even to people who are potentially eligible based on whether or not they have mild cognitive impairment related to Alzheimer's disease," Neuman said. CMS plans to provide broader coverage for Leqembi if the treatment receives full FDA approval under the traditional process, according to an agency statement.

The Food and Drug Administration on Friday approved an Alzheimer’s drug shown in clinical trials to slow cognitive decline in patients in the early stages of the illness. The FDA approved Leqembi for use in people with mild cognitive impairment or early Alzheimer’s disease. Most drugs approved by the FDA for Alzheimer’s are aimed at helping symptoms, not actually slowing the progression of the disease. Friday's announcement comes on the heels of a scathing congressional report released last week detailing the approval of a different Alzheimer’s drug, called Aduhelm. The Alzheimer's Association has said that based on the Eisai and Biogen phase 3 clinical trial results, the FDA should approve Leqembi for early-stage Alzheimer’s.

☆ The FDA just approved a new Alzheimer's drug that's set to be a blockbuster
▼ + stars: | 2023-01-06 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +6 min

The FDA just approved a new treatment for Alzheimer's disease from Eisai and Biogen. Alzheimer's disease affects roughly 6.5 million Americans and has no cure. The FDA granted an accelerated approval of the drug, meaning the companies will have to conduct additional follow-up studies. While the drug has been approved, questions about cost remainWhile Leqembi has been approved by the FDA, the drug will have to face other key hurdles before it becomes widely available to patients. Aduhelm, an Alzheimer's drug also developed by Biogen and Eisai and approved by the FDA in 2021, failed to garner support from the Centers for Medicare and Medicaid Services, even after it was approved by the FDA.

☆ There's still time to get health insurance through the public exchange — and you may qualify for help paying premiums
▼ + stars: | 2023-01-02 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Anyone without health insurance has about two weeks left to get 2023 coverage through the public marketplace — and subsidies could make it affordable. Open enrollment for the federal health care exchange runs through Jan. 15, with coverage taking effect Feb. 1. Most marketplace enrollees — 13 million of 14.5 million in 2022 — qualify for federal subsidies (technically tax credits) to help pay premiums. For the most part, people who get insurance through the federal (or their state's) exchange are self-employed or don't have access to workplace insurance, or they don't qualify for Medicare or Medicaid. As of Dec. 15, nearly 11.5 million people had selected a plan through the marketplace, according to CMS.

FollowNEW YORK, Dec 27 (Reuters) - A divided federal appeals court on Tuesday threw out the insider trading convictions of four defendants, including two former hedge fund partners, over leaks from a U.S. healthcare agency about planned changes to Medicare reimbursement rates. The court agreed with prosecutors that the May 2018 convictions could not stand after a 2020 Supreme Court ruling that clarified when alleged misuse of property triggered federal fraud laws. They said Blaszczak passed the information to Huber and Olan, who used it to make $7 million by trading healthcare stocks. The appeals court upheld the defendants' convictions in 2019, but the Supreme Court ordered a reconsideration after ruling in the so-called "Bridgegate" case. The court said the alleged scheme did not aim to obtain "property" within the meaning of the underlying fraud statute.

From almost nothing five years ago, the institutional residential property market has grown to the point where investors say housing is starting to challenge office buildings as a focus for their cash. And higher yields and scope for growth are spurring new projects, market players say. "We are currently surprised ourselves by the speed of the change and how the market is changing," he told Reuters. "Many institutional investors are looking to gain the first mover advantage and moving in," Wysokińska-Kuzdra told Reuters. The war in Ukraine has also created uncertainty, so that some investors are focused only on finishing current projects.

☆ Up to 254,000 Medicare beneficiaries are getting new ID cards due to data breach at subcontractor. What they need to know
▼ + stars: | 2022-12-16 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +1 min

Up to 254,000 Medicare beneficiaries' personal information may have been compromised in an online ransomware attack at a government subcontractor, officials warned this week. Letters are being sent to the beneficiaries who were impacted by the potential data breach, said the Centers for Medicare & Medicaid Services. Those affected — who represent less than 0.4% of Medicare's 64.5 million beneficiaries — will also receive a replacement Medicare card with a new identification number in the next few weeks. "The safeguarding and security of beneficiary information is of the utmost importance to this agency," CMS Administrator Chiquita Brooks-LaSure said in the announcement. The personal information that could have been compromised include name, address, date of birth, phone number, Social Security number, Medicare beneficiary identifier, banking information (including routing and account numbers) and Medicare entitlement, enrollment and premium information.

☆ Final Trades: CMS Energy, Mativ & more
▼ + stars: | 2022-12-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: CMS Energy, Mativ & moreThe "Halftime Report" traders give their top picks to watch for the second half.

☆ Less than 50% of nursing home residents have received omicron booster ahead of expected winter Covid wave
▼ + stars: | 2022-12-15 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

U.S. White House COVID-19 Response Coordinator Ashish Jha speaks during a press briefing at the White House in Washington, December 15, 2022. Less than 50% of nursing home residents, one of the country's most vulnerable populations to severe illness from Covid-19, have received an omicron booster ahead of an expected wave of infection this winter. The administration is working with nursing homes to make sure vaccines and treatments are available on site, Jha said. The federal government is also increasing the pool of staff that can administer vaccines at nursing homes. Covid deaths in nursing homes increased 25% from 256 during the week ending Nov. 20 to 321 for the week ending Dec. 11.

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