In this week, the issue of InnovationRX, we are considering the executive order of Trump’s drug pricing, how the co -founder of the Hims became a billionaire, the financial cost of reducing NIH spending and much more. To take it to your inbox, Sign up here.
President Donald Trump has joined Nih Jay Bhattacharya and HHS Secretary Robert F. Kennedy … more
President Trump signed an executive order Monday aiming to get pharmaceutical companies reduce their prices “30% to 80%”. But the proposal is much weaker than industry analysts. The action makes no reference to tools such as Medicare’s negotiation under the law on reducing inflation or Medicare pilot allowed by law on affordable care, which both were examined scenarios. Both were democratic initiatives.
Instead, the mandate gives the Department of Health and Human Services 30 days to set the targeted “more favored nation” values - that is, the prices paid for the same medicine in other developed countries around the world. These goals must then be notified to pharmaceutical companies. If these companies are not actively trying to meet these goals, the HHS secretary is to start the rules to enforce them, a process that could take months or years – and will probably fight in the courts, as these rules require Congress.
Stephen J. UBL, Managing Director of America’s Pharmaceutical Research and Manufacturers Industrial Commerce, has appreciated the order in a statementSaying that “to reduce costs for Americans, we must deal with the real reasons why US prices are higher: foreign countries that do not pay their fair share and intermediaries leading prices for American patients.” The incoming coalition, which includes business uppercase assets involved in the field, issued a similar statement, saying that “Introducing foreign price controls is one step back for American innovation and American patients.”
In Congress, Senator Bernie Sanders, I-Vt., is offered to introduce legislation This would give the nation’s most favored pricing teeth and called on President Trump to support it. Republicans look Less sloping To support such a move, with Senator Chuck Grassley, R-IIWA, among other things, who seem to prefer the support of bilateral legislative proposals for the maintenance of pharmacy administrators, towers for medicines included in approved drug lists known as forms.
The co -founder of Hims, seller of hair loss pills and erectile dysfunction, is now a billionaire
Andrew Dudum, co -founder of the Hims & Hiss online pharmacy based in San FranciscoA well -being for men and women – including hair loss and erectile dysfunction pills – is now a billionaire after strong quarterly profits and a recent agreement to sell a popular weight loss drug sent by the company.
On April 29, Hims & Hers announced that it had collaborated with the Danish pharmaceutical company Novo Nordisk to sell the popular Wegovy weight loss medicine through its online pharmacy, making it one of the three viewers to do so. The company’s stock increased by 83% from the announcement (by 13 May), reversing a dramatic tower that followed the FDA’s February decision to stop television companies such as Hims and its own from the production of complex versions of the drug. Companies, including Hims and their own, were able to build and sell drugs after a sudden explosion in their popularity led to shortcomings.
The recent stock match reinforced the net value of the 36 -year -old Dudum, a serial businessman who helped the company start in 2017 and has run it as CEO since then at $ 1.4 billion, according to Tower Estimates. On Tuesday, the company said it had issued Worth $ 1 billion of convertible notes.
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Biotechnology and pharmacy
A report by Senate Democrats found that Trump administration cut effectively 2.7 billion dollars worth of NIH research grants Until March this year, including a 31% reduction in cancer research. These cuts have wavy results throughout the industry. The cuts “create a climate of deep uncertainty. We are increasingly listening to customers that the combination of real cuts and risks that escape them make them hesitant to start new projects or invest in capital markets,” said Serge Saxonov, CEO of 10x Genomics to investors in a call she calls last week.
Saxonov also criticized the administration’s current approach to NIH, stating that recent federal actions “seriously undermine these businesses and are at risk of fundamentally disassembled their ability to support research and this would be a tragedy.”
Digital health and ai
Virtual Chronic Care Company Omada Health was filed to become public What is expected to be something to buy the stagnant iPO for digital health companies. In his testimony, Omada – founded in 2012 and counts Andreessen Horowitz among his supporters-reported $ 170 million revenue For 2024, an increase of 38% by 2023, however, the company is not yet profitable, reporting net loss of $ 47 million last year compared to $ 68 million for 2023. Hinge Health said Tuesday was Targeting of about $ 2.6 billion (its shares between $ 28 and $ 32) -An a huge fall from the Evaluation of $ 6.2 billion reached 2021 In the last round of VC funding.
Plus: Chatgpt Maker Openai presented a new health care initiative this week Health. Partners with 262 doctors around the world, the company hopes to better measure the AI systems for health to evaluate their effectiveness.
Public health and hospitals
Trump got The influence of Casey Wellness means be the next general surgeon. She and her brother Calley are right and supporters of the so -called America Make America Healthy again driven by RFK Jr. Vitriol vs. of her than more traditional types of maga underlines a divided into the base of Trump. If confirmed, the supporter of raw milk WHERE left her surgical residence programwould be the least experienced person to fill this role.
Plus: CEO of Northwell Health Michael Dowling, The first leader of the hospital system, who has been in this role for 23 years, announced that he would resign in October. John d’Angelo, currently executive vice -president of the Group’s central area, who began his career there 25 years ago as an emergency physician, will replace him. Northwell is one of the nation’s largest health systems, extending to 28 hospitals in New York and Connecticut.
What do we read
In the latest Shakeup at the UnitedHealth Group, Managing Director Andrew Witty is removalciting “personal reasons” and will be replaced by former long -term CEO Stephen J. Hemsley. In a note to employees, Hemsley said He was “optimistic” about the future of the company.
When David Armstrong of Propublica was diagnosed with cancer, he started understanding why Single Revlimid pill It costs the same as a new iPhone. That’s what he found.
Bill Gates has reformed global health through his foundation. Now, as Trump’s administration reduces external assistance, plans to spend more than $ 200 billion for health and human growth Prior to the clearance of the Foundation in 2045.
In a clinical trial that put two obesity drugs headed, head, leader, Lilly’s Zepbound struck Novo Nordisk’s Wegovy. The study, funded by Lilly and Published in New England Journal of Medicine, He found that patients with Zepbound lost 50 pounds over 72 weeks compared to 33kg in Wegovy. The finding is in line with another study published last fall, which also found that Zepbound produced greater weight loss.
Billy Evans, the partner of the prisoner of Theranos Elizabeth Holmes, is Starting a blood test company his.
Congress Budget Budget Analysis establish That the current budget bill could cause more than 13 million people uninsured in the next decade than would happen differently.
A federal court ruled that the Patent Diploma Board I have to reassess Whether the winners of the Nobel Prize Jennifer Doudna and Emmanuelle Charpentier are owners of CRISPR technology. High profile disagreements date back to 2014, when a researcher at the MIT and Harvard Broad Institute received basic US patent rights.
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