Top Story

Morning Read: Valeant Pharma now front-and-center in the biotech beatdown

Also, MacArthur Awards are in, Medtronic makes its eighth deal of the year, millennials share their opinions on wearables, and does Genentech really have a $5 billion MS drug in the pipeline?

TOP STORIES

The subjugation of old-school biopharma continues:

  • Valeant Pharmaceuticals is now in the political cross hairs – a Congressional subpoena seems imminent – Reuters
  • Valeant CEO in a letter to shareholders: It’s all good. – FiercePharma, SEC
  • Biotech stocks continue their tumble. – The Street
  • Is the biotech downturn not about politics, but really the sector correcting itself? – CNBC
  • Hillary Clinton is already running campaign ads on how she beat-up pharma’s bad boy(s). – The Hill
  • “This political campaign has been dishonest and virtually fact-free.” – Wall Street Journal
  • When are the government folks going to make a villain out of patent law? – The New York Times

This year’s MacArthur Fellow include healthcare thinkers like Heidi Williams, Lorenz Studer and Beth Stevens. – MacArthur Foundation

LIFE SCIENCES

Bayer beat back a U.S. Federal Trade Commission lawsuit accusing it over making making unsubstantiated claims about a dietary supplement (FTC isn’t talking). – Reuters

Hype is underway on the Genentech $5 billion multiple sclerosis drug. – San Francisco Business Times

The Gores Group has sold Therakos to Mallinckrodt Pharmaceuticals for $1.325 billion. – L.A. Biz

The FDA is now reviewing Sanofi’s diabetes drug lixisenatide. – PharmaTimes

Medtronic’s eighth deal of the year: Lazarus Effect for $100 million. – Star Tribune

Medtronic’s Ireland move pays off for Medtronic. It’s paying less taxes. – Wall Street Journal

NovaTarg, which is developing a kidney disease treatment, won $3.2 million in federal grants. – Triangle Business Journal

Annie Hai-yuan Lo, a Johnson & Johnson CFO, has joined the Quintiles board of directors. – Business Wire

Steris faces a shareholder suit over executive tax-relief payouts. – MassDevice

PAYERS-PROVIDERS

Doctors are being taught to ID wealthy patients to help build the donor pipeline. This is going to go over well. – The New York Times

A great piece: Understanding Health Care’s Short-Termism Problem – Harvard Business Review

Surprised? Some payers and providers aren’t buying the Anthem party line that his purchase of Cigna won’t hurt competition. – Indiana Business Journal

Henry Ford Health System is building a $110 million cancer center – part of a $500 expansion. – Detroit Free Press

A great look at Dr. Laura Esserman, “one of the most vocal proponents of the idea that breast cancer screening brings with it overdiagnosis and overtreatment.” – The New York Times

TECHNOLOGY

Apple is “blowing up privacy” – and here are some details on how that changes their healthcare data.

Health and fitness data is isolated on the device with an encryption key generated based off of your passcode. This type of personalized encryption makes it even more difficult for anyone, including Apple, to ever see data you don’t want them to. This passcode key encryption is used throughout Apple’s products now.

TechCrunch

Why Texas wants Teladoc’s antitrust suit thrown out. – MobiHealthNews

Survey confirms that millenials have data ADD and like to flex in the mirror. – MobiHealthNews

POLITICS

Here comes another Congressional swing at Obamacare taxes (which will fail) – The Hill

The CMS’ Medication Therapy Management (MTM) model will experiment with increasing medication adherence for Medicare beneficiaries on Part D plans. – Modern Healthcare

A LITTLE BIT EXTRA

Scientists have figured out a way to tell what color dinosaur are. I am sure this is groundbreaking research with some pretty broad applications. But, at the moment, the second-grader in me just got very excited. – The Atlantic