TOP STORIES
A bombshell this morning from UnitedHealth. It had revised its profit expectations because of a “deterioration” of its products on government-run exchanges under Obamacare.
The nation’s largest health insurer said it was “evaluating the viability of the insurance exchange product segment,” pulling back on its marketing efforts for individual exchange products for next year and “will determine during the first half of 2016 to what extent it can continue to serve the public exchange markets in 2017.” The insurer sells individual plans on public exchanges in 24 states and covers more than a half million Americans in these plans.
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.
And this from CEO Stephen Hemsley: “In recent weeks, growth expectations for individual-exchange participation have tempered industrywide, cooperatives have failed, and market data has signaled higher risks and more difficulties while our own claims experience has deteriorated, so we are taking this proactive step.” – Forbes & Wall Street Journal
Pfizer is close to wrapping up the $150 billion merger with Allergan. One thing that could mess up the play – recent regulatory issues around corporate inversions. – New York Times
LIFE SCIENCES
Pfizer and Servier have bought the rights to Cellectis’ cancer cell therapy. – Reuters
Using Informed Awareness to Transform Care Coordination and Improve the Clinical and Patient Experience
This eBook, in collaboration with Care Logistics, details how hospitals and health systems can facilitate more effective decision-making by operationalizing elevated awareness.
The FDA has approved Adapt Pharma’s nasal spray for opioid overdose (commercial launch coming in January). – Seeking Alpha
New reports out of China: “the progression from extensive drug resistance to pandrug resistance is inevitable.” – Reuters
Fractyl has added another $17 million in post-Series C funding for its diabetes treatment. – Boston Business Journal
In the midst of contending with a $2 billion hostile takeover from Horizon Pharma, Depomed just spent $25 million to acquire the North American rights to a German back pain medicine. –San Francisco Business Times
NovaBay Pharmaceuticals is restructing ahead of the commercialization of its Avenova Lid and Lash Cleanser. – Business Wire
Private equity giant Warburg Pincus is pouring $300 million into specialty pharmaceutical maker Vertice Pharma. –Fierce Biotech
The FDA just gave breakthrough designation to avelumab, a PD-L1 inhibitor that’s being co-developed by Merck and Pfizer. –OncLive
PAYERS-PROVIDERS
Some shady dealings from nonprofit Blue Cross: It’s accused of backing out of a $140 million charitable pledge, made simply to help it win a big deal. –L.A. Times
Optum Labs, the innovation center forged by Mayo Clinic and UnitedHealth, is now working with HHS to mine big data. –Modern Healthcare
Sad. Honest. True. “Somewhere in the middle of residency, it became more difficult to like the patients.” – KevinMD
TECHNOLOGY
Check out Apixio’s new product, Iris, that crunches clinical data and other hospital information. – TechCrunch
CVS Health just launched five new digital health tools – including an app for the Apple Watch. –MobiHealthNews
These clothes can sense if an athlete’s injured – and have attracted a pretty penny ($35.2 million) from investors. Nike – prepared to be “crushed.” – Re/Code
POLITICS
Rising rates for health policies under the Affordable Care Act may impact enrollment rates of the healthy individuals it desperately needs. – Wall Street Journal
A bipartisan House effort is calling for a $2 billion increase in NIH funding – bringing it up to $32 billion. –BioCentury
Hillary Clinton is going in for the kill on Sen. Bernie Sanders – and using healthcare as the issue to get it done. – Wall Street Journal
A LITTLE BIT EXTRA
Ginkgo Bioworks – an organism design foundry and well-funded group of biohackers – is bringing a little glamor to synthetic biology. –Wired
Photo: Getty Images
