Top Story

Morning Read: Novo Nordisk acquires 2 U.S. biotechs targeting diabetes, insurers get greenlight on double digit rate hikes

Novo Nordisk has acquired Indiana-based Calibrium LLC and MB2 LLC, which are developing drugs for diabetes and metabolic diseases, some health insurers are dramatically increasing rates.

TOP STORIES

Novo Nordisk is acquiring Indiana-based Calibrium LLC and MB2 LLC, both of which are relatively fresh on the scene and working on drug targets for diabetes and metabolic diseases. The financial details are still being kept under wraps.

Calibrium is focused on novel peptides and MB2 LLC on first-in-class, mixed agonist drugs. “I’m optimistic that together we can create novel, transformative therapies in the fight against the global epidemic of diabetes and obesity,” said Richard DiMarchi, chief scientific officer and co-founder of both Calibrium and MB2, commenting on the deal.

PharmaTimes

Some insurers have received the double digit rate increases they were seeking after state commissioners agreed that the increases were needed to cover higher-than-expected claims from sick people who signed up for individual policies in the first two years of the Affordable Care Act. The rate hikes will go into effect in time for the open enrollment period, which starts November 1. Blue Cross Blue Shield of Tennessee marks the highest rate increase to date at 36.3 percent. The state has had some of the lowest premiums in the country in the first couple of years of ACA’s rollout. — The Wall Street Journal

LIFE SCIENCES

It looks like Lilly’s cancer drug necitumumab, developed for the treatment of a form of advanced lung cancer, is taking center stage in the continued debate of pricing of cancer drugs. — The Wall Street Journal
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The US Food and Drug Administration (FDA) released its long-awaited guidance establishing a naming convention for biosimilars to distinguish them from branded versions of thee products.  RAPS
The FDA has also approved Repatha (evolocumab) injection for some patients who are unable to get their low-density lipoprotein (LDL) cholesterol under control with current treatment options.  Bio Century

PAYERS-PROVIDERS

A judge in Arizona ruled that a hospital assessment that pays for the expansion of the state’s Medicaid program is constitutional, preserving health care for some 350,000 Arizonans. Arizona Daily Star

TECH

The latest healthcare accelerator to come into being is a collaboration between Johnson & Johnson Innovation and PCH called Hardware for Health. Stacy Feld, Senior Director of Consumer Scientific Innovation at JJI, told MobiHealthNews:

“There are new devices, new software algorithms, advanced sensor technologies, and novel imaging innovations. And as these new hardware solutions are converging on the consumer health ecosystem, that’s enabling new solutions for consumers to engage in self-care and general health and wellness.” MobiHealth News

POLITICS

Speaker John Boehner has hired one of the House Energy and Commerce Committee’s top aides to advise him on health care policy. Paul Edattel, who has worked on Rep. Fred Upton’s (R-Mich.) panel since 2011, will begin as assistant to the speaker for policy, in charge of the Ohio Republican’s health care policy.

Politico

A LITTLE BIT EXTRA

Some people actually have a condition called “aphantasia,” which doesn’t allow them to picture things visually in their mind.

It’s thought that as many as one in fifty people might have aphantasia. Some report that it makes them feel “alone” or “isolated,” knowing that they can’t see things that most people can, and that they feel distressed they can’t picture friends or deceased relatives. But others have learnt to live with it, and simply think that they experience life in a different way

IFLScience

Photo: Flickr user Siebuhr