Biopharma Dive: Your Daily Dose of Pharma and Biotech News

Pharma and BioTech Daily

Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma e Biotech world. Steward Health is closing two Ohio hospitals and a Pennsylvania facility due to financial reasons, drawing criticism from healthcare workers and unions. McLaren Health Care in Michigan is facing disruptions from a ransomware attack, while Humana has settled whistleblower allegations of Medicare Part D fraud for $90 million. A judge has struck down an FTC ban on noncompete agreements nationwide, impacting the healthcare industry. Massachusetts has brokered agreements for Steward to sell five hospitals as part of bankruptcy proceedings. The healthcare industry is focusing on delivering patient-centric experiences and combating burnout. Recent articles cover topics such as medical tourism, health care fights, private equity deals, and reproductive freedom. As Bristol Myers' schizophrenia drug nears approval, AbbVie and other competitors are looking to enter the market with new antipsychotics to improve patient adherence. BridgeBio is sending rare disease drugs to a new company called GondolaBio, backed by $300 million from investors. Regeneron faces FDA delays for a myeloma drug due to manufacturing issues. Biomarin has reshuffled its executive team with new heads of R&D and business development. Lilly's tirzepatide has shown promising results in reducing the risk of type 2 diabetes progression. Drugmakers are strategizing for upcoming patent expirations by finding new products and markets. Edwards Lifesciences is continuing its mergers and acquisitions spree by acquiring Genesis MedTech's TAVR technology and investing $25 million in the company. In other news, Johnson & Johnson is buying heart failure implant maker V-Wave for up to $1.7 billion, while Medtronic asserts that its diabetes strategy remains unchanged despite a partnership with Abbott. The FDA defends Jeff Shuren's tenure amid ethics concerns, Dupont acquires Donatelle Plastics for $313 million, and a survey reveals that small biopharma and CROs are increasingly using multiple trial technologies. Steward Hospitals is closing two facilities in Ohio and one in Pennsylvania due to financial reasons. Dissatisfaction with electronic health records (EHR) is increasing nurses' burnout risk, with a third of nurses attributing their burnout symptoms to EHR issues. Updated COVID-19 vaccines from Pfizer and Moderna have been approved by the FDA to better match current virus strains. The Center for Medicare & Medicaid Services (CMS) has received 12,000 complaints of noncompliance with surprise billing regulations and has won $1.7 million in restitution.The ongoing struggle for health equity in the pharmaceutical industry highlights disparities in cancer treatment access and outcomes. Efforts to improve outcomes for black cancer patients through increased screening rates have not been successful, with income disparity playing a significant role in cancer rates among different backgrounds. Various industry leaders and experts share insights on strategies to improve diversity in clinical trials, tackle health disparities, and promote health equity.This week in gene therapy news, Biomarin has reshuffled its C-suite with new executives from Amgen and Roche, while Avidity and Kymera have raised fresh funds. Zealand and Arrowhead are advancing obesity drugs, while Bluebird has narrowed its launch guidance. The rise of antibody-drug conjugates in cancer treatments is discussed along with upcoming events in the biopharma industry.For more updates on gene therapy, subscribe to Biopharma Dive's newsletter.