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Christina Farr got the scoop on Haven's No. 2 executive leaving after less than a year on the job. Novartis CEO Vas Narasimhan writes an op-ed for us looking at how gene therapies are upending the global health-care system, not to mention revenue. Forty-four states accuse drug companies of conspiring to set prices for generic drugs; Gilead is accused in a separate lawsuit of thwarting generic drug competition for its HIV treatments. Bertha Coombs dives into drug prices.
We can't wait to see you all Tuesday at our Healthy Returns summit. If you can't join us, keep an eye on CNBC.com to follow along. | | Haven's No. 2 hire is out | Jack Stoddard, the chief operating officer for Haven, has left the company after nine months on the job. When reached for comment, Stoddard noted that it was a tough choice to leave, but that he was commuting from Philadelphia to Boston and he wanted to spend more time with family. Haven is the joint venture formed by Amazon, Berkshire Hathaway and J.P. Morgan to improve the experience of health care for its 1.2 million employees. It's a non-profit, and not a short-term project, so it might be some time before employees experiences real changes to the system.
-Christina Farr | | | | Gene therapies are a game changer | | New gene therapies hold a lot of promise to cure fatal or chronic diseases like cancer in one fell swoop that previously take months or years of treatment and medications to manage. That's a game changer, not just for the industry, but for all of mankind, Novartis CEO Vas Narasimhan writes in an op-ed for us. He's also discussing this in person at the Healthy Returns Summit on Tuesday. The big question is how you bill for something that saves lives as well as hundreds of thousands of dollars in future health-care costs. | | | | Drugmakers accused of conspiracy | Forty-four states (yes, almost every single one of them) accused Teva Pharmaceutical and 19 other drugmakers of "systematically" dividing up the generic drug market, which accounts for 90% of all U.S. prescriptions, to avoid competing with one another. In some cases, pharma execs allegedly conspired to either prevent prices from dropping or raise them. Teva said, "the allegations ... are just that – allegations."
-Berkeley Lovelace Jr. | | | | Gilead propped up cost of lifesaving HIV treatment by monopolizing the market, lawsuit claims | The state of California is accusing Gilead Sciences, the nation's leading drugmaker for HIV treatments, of orchestrating a "long-running scheme" to block generic competition of its combination drug "cocktails" that treat HIV. The state claims the drugmaker convinced Bristol-Myers Squibb and Janssen Pharmaceuticals – identified as "co-conspirators" – of entering into a number of "collusive agreements" that dissuaded the companies from competing with Gilead's HIV treatment.
-Ashley Turner | | | | When drug price rhetoric meets the road | As we await the Trump administration's final rule on banning controversial pharmacy benefit rebates, yesterday we got a reminder that tough rhetoric on drug price measures can become more nuanced when the rubber meets the road. The administration tabled a proposal to allow Medicare drug plans to negotiate prices on so-called protected class drugs – such as cancer and HIV treatments. Health advocates worried the measure would limit access to life-saving drugs. Analysts still think the rebate rule will go forward, but the clock is ticking to make it happen for 2020 plans.
-Bertha Coombs | | | | J&J lays out plans for growth amid pressure | J&J's facing thousands of talc lawsuits, expiring patents that challenge its $40 billion powerhouse pharma unit and constant political pressure on drug prices. Amid these pressures, Johnson & Johnson CEO Alex Gorsky laid out a plan for the health behemoth's growth over the next five years in an exclusive interview with CNBC. He'll go deeper on Tuesday, at our Healthy Returns conference in New York City.
-Meg Tirrell | | | | Why did Amazon buy PillPack? The inside story | In the summer of 2018, the founders of PillPack, an internet pharmacy start-up, flew to Seattle to meet with a group of execs from Amazon. Within a month, Amazon acquired the company for more than $750 million in its first health care buy-up ever. That sent health care stocks into a frenzy, as the mere thought that Amazon could get into the drug supply chain seemed like a potential threat to the major incumbents. Amazon hasn't said much about the deal, but we spoke to about a dozen people close with PillPack for a deep dive into the company's past, present and future.
-Christina Farr | | | | A little something for both sides of the soda tax debate | Soda taxes drum up strong feelings – with people on the pro-side saying they'll cut back on consumption and the con-side saying they will drive sales elsewhere. New research shows both are kind of right. Sales of sugary beverages in Philadelphia decreased 51% in the first year after the city implemented a soda tax in 2017, but those results were partially offset by people buying more of those drinks in neighboring communities, bringing the net decline to 38%.
-Angelica LaVito | | Coming Up: Healthy Returns 2019
CNBC presents a unique health care event that brings together top CEOs, investors and technologists to explore the innovations that will drive better outcomes, clinically and financially.
We'll examine AI and data, M&A and IPOs, the promise of CRISPR and the ethics of genome editing, and the most investable opportunities in both the public and private markets.
Featured Speakers Include:
Mark Bertolini, Fmr CEO, Aetna
Jorge Conde, General Partner, Andreessen Horowitz
Scarlet Shore Clifton, Product Manager, Verily
Paul Dabrowski, CEO, Synthego
Dr. Edward Ellison, Co-CEO & Executive Medical Director, The Permanente Federation LLC; Chairman, Southern California Permanente Medical Group
Dr. Scott Gottlieb, Fmr Commissioner, FDA
Alex Gorsky, Chairman & CEO, Johnson & Johnson
Dr. Marc Harrison, President & CEO, Intermountain Health
Dr. Ashish Jha, Harvard Global Health Director, Physician and health policy researcher
Daphne Koller, Founder and CEO, insito
Dr. Samarth Kulkarni, CEO, CRISPR Therapeutics
Dr. Vasant Narasimhan, CEO, Novartis
Peter Orszag, Head of N.A. M&A and Global Co-Head of Health Care, Lazard
Dr. John Rogers, Professor, Biomedical Engineering and Neurological Surgery, Northwestern
Martine Rothblatt, Founder and CEO, United Therapeutics
Dr. Jennifer Schneider, President, Livongo
Christi Shaw, President, Bio-Medicines, Eli Lilly
Andy Slavitt, General Partner, Town Hall Ventures; Former commissioner, CMS
Alethia Young, Large Cap Biotech Analyst, Head of Healthcare Research, Cantor Fitzgerald | | Healthy Returns May 21, 2019
New York City | |
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