TOP STORIES
The venture arm of Baxter International formed a biotech collaboration with Mayo Clinic and Velocity Pharmaceutical Development to develop treatments for cancer and other diseases. Vitesse Biologics will search for new therapeutics to address patients needs that are not being met.
Bristol-Myers Squibb filed a lawsuit against a former oncology executive for possibly violating a non-compete agreement. David Berman, former vice president of the immuno-oncology exploratory development team left the position after three months and agreed not to work for a competitor until one year passed. Last month, Berman told Bristol-Myers that he was leaving to work for AstraZeneca, another company developing competing immuno-oncology drugs.
LIFE SCIENCE
A team of researchers has successfully engineered E. coli to produce new forms of the popular antibiotic, erythromycin. The antibiotic is used to treat illnesses such as pneumonia and urinary tract infections.
The U.S. military is ordering a major review of suspect (active) anthrax found in labs in 11 states as well as in Australia and South Korea.
BioDelivery Sciences International secured $20.7 million in debt for its opioid addiction treatment.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
PAYERS-PROVIDERS
Healthcare data breaches are costing the system about $6 billion annually. Health records are selling for up to $50 on the black market, costing the healthcare industry about $20 for each hacked record. The government is now forced to spend billions of dollars to build up and defend the IT systems it spent billions to install.
Outsourced chronic care management services can help physicians and patients.
Community health centers across the country are expanding services to promote wellness including providing food banks, financial and legal aid and other additions.
TECH
Evolent Health could raise up to $184 million through it IPO, according to documents filed with the U.S. Securities and Exchange Commission. It registered an S-1 filing last month.
Australia medical device company dorsaVi received FDA clearance for additional use cases for their wearables. ViMove, which tracks posture and movements for different age groups, initially got FDA clearance last year. The new clearance for additional use cases will help the company increase marketing to the physical therapy market.
3-D printed medicine may disrupt the pharmaceutical industry because of the ability to produce different shapes and sizes that release medicine more rapidly.
POLITICS
The Obama administration has announced a forum to be held today on antibiotic stewardship to reduce the overuse of antibiotics.
The Obama administration is doubting the ability of Congress to pass an Obamacare fix if the Supreme Court decides to get rid of the law’s subsidies.
A LITTLE EXTRA
South Carolina senator Lindsey Graham is running for president in 2016.
The Morning Read provides a 24-hour wrap up of everything else healthcare’s innovators need to know about the business of medicine (and beyond). The author of The Read published it but all full-time MedCity News journalists contribute to its content.
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