 | FRI, AUG 02, 2019 | | | | Think a friend or colleague should be getting this newsletter? Share this link with them to sign up.
So much for a summer slowdown. Pfizer and Mylan are pairing up to create a giant off-patent drug business, bringing Viagra and EpiPen under one roof. President Trump wants to import prescription drugs from Canada, while his HHS secretary tries to "square a circle." And while they spar on other issues, the Trump administration and Big Tech (including Apple and Microsoft) came together on a plan for greater access and transparency in digital medical records. Some industry insiders are skeptical.
(Are there any stories we should be chasing? Email tips, ideas, suggestions to CNBC Health Editor Dawn Kopecki at dawn.kopecki@nbcuni.com.)
| | Pfizer's Mylan plan pleases everyone, except its own shareholders | It was heralded as a best-case outcome for ailing Mylan, but Pfizer's stock took a beating this week after the world's largest drugmaker announced it would merge its off-patent branded drug business with the generic-drug maker. It signals a further streamlining of Pfizer's business toward more cutting-edge, highly priced biopharmaceuticals — but, as Morgan Stanley pointed out when it downgraded the stock this week, "the real news was weaker underlying earnings" than anticipated for Pfizer's remaining assets and the new company.
-Meg Tirrell | | | | O Canada! Trump administration pushes plan to import drugs from Canada | The Trump administration outlined a proposal that would allow the U.S. to import cheaper prescription drugs from Canada. States, wholesalers and pharmacists, acting as intermediaries for consumers, would draft a plan and submit it to the FDA for approval. President Donald Trump and HHS Secretary Alex Azar (a former pharma executive — see below) had previously opposed the tactic, which the pharmaceutical industry called a "scheme" that is "far too dangerous for American patients."
-Berkeley Lovelace Jr. | | | | Do what I say, not what I did! Azar defends administration proposed price reforms | HHS Secretary Alex Azar used to be the president of Eli Lilly's U.S. division. It makes for an interesting dynamic, when he calls pharma executives' defense of high prices "a canard." When Azar trumpeted the administration's new hospital price transparency proposals on "Squawk Box" this week, the talk then turned to drug pricing. Watch as the anchors ask him to "square the circle" on insulin price increases while he was at Lilly and his efforts to push back on the industry now.
-Bertha Coombs | | | | White House wants price transparency | Hospitals and insurers really don't want to disclose the prices they negotiate. A proposed rule would force them to — or face a fine up to $300 per day. The Trump administration says the policy would cover the roughly 6,000 hospitals that take Medicare. Within hours, hospital and insurance associations issued scathing criticisms of the plan, saying transparency would actually drive prices higher.
-Angelica LaVito | | | | Big Tech gets behind opening up access to medical data | Apple, Microsoft, Anthem, Humana and Google are part of a group of tech and health-care companies working on industry-wide standards to give patients easy digital access to past health insurance claims. Announced at the White House Blue Button Developers conference in Washington this week, it's supposed to give consumers access to their health insurance claims across multiple devices. Some in the health-care industry were skeptical that the announcement would lead to anything, but the group noted that it's an important first step.
-Christina Farr | |
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