Anthem (ANTM) announced an arrangement with Walmart (WMT) to advance the companies’ mutual goals of reducing healthcare costs and providing consumers with increased access to over-the counter medicines and services that can improve their health. The Anthem-Walmart program, launching in January 2019, will enable consumers who are enrolled in Anthem’s affiliated Medicare Advantage plans to use OTC plan allowances to purchase OTC medications and health-related items, such as first aid supplies, support braces, and pain relievers at Walmart’s 4,700 stores and on Walmart.com. The new collaboration is expected to improve access to these items while significantly reducing the out-of-pocket costs for those enrolled in Anthem’s affiliated Medicare Advantage plans.
Monday, August 20, 2018
The Medicines Co. price target raised to $50 from $40 at Citi
Citi analyst Joel Beatty raised his price target on The Medicines Co. shares to $50 as he believes the ongoing phase 3 inclisiran trial will be a success and that the drug can take significant share, if approved, because its every 6 month dosing is a significant advantage over current PCSK9s that must be dosed monthly. He also notes that sales of the two approved PCSK9 agents are accelerating and believes new cholesterol treatment guidelines will likely further drive longer-term PCSK9 growth, Beatty tells investors. He keeps a Buy rating on Medicines Co. shares.
Teva Canada expands recall of valsartan drugs to include additional lots
Health Canada is advising Canadians that, as a precautionary measure, Teva Canada is expanding its voluntary recall to include eight additional lots of valsartan products in Canada because they may contain an impurity, N-nitrosodimethylamine. Valsartan is used to treat high blood pressure and heart failure.This latest action is further to an initial recall of certain valsartan products because of the presence of NDMA in the active ingredient. All of the recalled products use a valsartan ingredient manufactured by Zhejiang Huahai Pharmaceuticals in China. Health Canada is reviewing the long-term potential health impacts of the NDMA impurity on patients. The additional Teva Canada products are being recalled after sample testing of the active ingredient by Zhejiang Huahai Pharmaceuticals identified trace levels of NDMA. Testing is ongoing. In the meantime, Health Canada has asked Teva Canada to recall these additional products as a precautionary measure, and to conduct a full investigation to determine the root cause of this most recent issue.
Novo Nordisk: Phase 3a trial of Oral semaglutide achieved primary objective
Novo Nordisk announced the headline results from PIONEER 5, a phase 3a trial with oral semaglutide in adults with type 2 diabetes and moderate renal impairment. Oral semaglutide is an investigational GLP-1 analogue taken once daily as a tablet. The 26-week trial investigated the efficacy and safety of 14 mg oral semaglutide compared with placebo in 324 people with type 2 diabetes and moderate renal impairment inadequately controlled with metformin, sulfonylurea alone or in combination with metformin, or basal insulin alone or in combination with metformin. Two distinct statistical approaches to evaluating the effects of oral semaglutide were applied in the PIONEER 5 trial; a primary statistical approach required by recent regulatory guidance evaluating the effect regardless of discontinuation of treatment and use of rescue medication, and a secondary statistical approach describing the effect while on treatment and without use of rescue medication. The trial achieved its primary objective according to the primary statistical approach by demonstrating statistically significant and superior reductions in HbA1c with oral semaglutide compared to placebo at week 26. Furthermore, people treated with oral semaglutide achieved statistically significant and superior reductions in body weight compared to placebo at week 26. When applying the secondary statistical approach, people treated with oral semaglutide experienced a statistically significantly greater reduction in HbA1c of 1.1% compared to 0.1% with placebo. Reduction in body weight was statistically significantly greater with oral semaglutide at week 26, with a reduction of 3.7 kg compared to 1.1 kg with placebo. In this 26-week trial, oral semaglutide was well-tolerated in people with moderate renal impairment, with a profile consistent with GLP-1-based therapies. “The results from PIONEER 5 showed that oral semaglutide is efficacious and has a solid safety profile in people with type 2 diabetes and moderate renal impairment, thereby further expanding the solid clinical profile of oral semaglutide,” said Mads Krogsgaard Thomsen, executive vice president and chief science officer of Novo Nordisk.
iKang Healthcare shareholders announce approval of ‘going private’ transaction
iKang Healthcare announced that, at an extraordinary general meeting, the company’s shareholders voted in favor of the proposal to authorize and approve the previously announced agreement and plan of merger, dated as of March 26, 2018 and amended as of May 29, 2018, by and among the Company, IK Healthcare Investment Limited and IK Healthcare Merger Limited, pursuant to which, Merger Sub will be merged with and into the Company with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent, the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands, and the transactions contemplated thereby, including the Merger.
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