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Thursday, June 27, 2019

Amazon adds Rite Aid to delivery network

Car trunks, home garages and potentially by drone, Amazon (NASDAQ:AMZN) has been steadily adding options for customers to receive their packages.
A new option, called Counter, will allow shoppers to pick up purchases – at no additional cost – across specialized counters in more than 1,500 Rite Aid (NYSE:RAD) locations by the end of the year.
Amazon is also looking to get other retailers, including small businesses, to join the program as it expands.

Walgreens Boots Q3 2019 Earnings Preview

Walgreens Boots (NASDAQ:WBA) is scheduled to announce Q3 earnings results on Thursday, June 27th, before market open.
The consensus EPS Estimate is $1.43 (-6.5% Y/Y) and the consensus Revenue Estimate is $34.52B (+0.6% Y/Y).
Over the last 2 years, WBA has beaten EPS estimates 88% of the time and has beaten revenue estimates 63% of the time.
Over the last 3 months, EPS estimates have seen 1 upward revision and 19 downward. Revenue estimates have seen 2 upward revisions and 13 downward.

Wednesday, June 26, 2019

New Urine Test Might Show Whether Prostate Cancer Needs Treatment

A man who learns he has prostate cancer faces a difficult choice: whether to immediately treat the cancer despite potential side effects or wait and see if it’s a slow-growing tumor that never needs treatment.
Men may soon have help making that decision.
Researchers from the United Kingdom report that they’ve created a urine test that can predict the aggressiveness of a prostate cancer far sooner than standard methods.
The new test is called the prostate urine risk test, or PUR. The researchers said it spots men who are up to eight times less likely to need radical treatment within five years of diagnosis. PUR also offers clues about who might need treatment five years sooner than current tests.
Dr. Durado Brooks is vice president of cancer control interventions for the American Cancer Society. He wasn’t involved in the current research, but said the study was “really intriguing.”
“Anything that helps us predict who will have more progressive disease, or who will be less likely to progress, would be helpful,” he said. “And, it appears, based on a modest sample size, that this tool may offer some promise.”
Prostate cancer typically grows slowly and may never need treatment in a man’s lifetime. However, predicting which men do need treatment isn’t easy.
The commonly used prostate specific antigen (PSA) test falsely raises cancer concerns in some cases and misses prostate cancer or aggressive cancers in other cases, the study authors noted.
Currently, when men choose active surveillance — a wait and watch strategy — they often need repeated testing. Those tests can include blood tests, digital rectal exams, MRI scans and biopsies (surgical removal of a small piece of prostate tissue).
These invasive procedures and constant reminders that they have cancer leads many men to choose treatment, even if they’re not sure they need it, the researchers explained.
To try to better predict who has riskier prostate cancer, the PUR test relied on sophisticated computer technology.
Urine samples were collected from more than 500 men. Most had prostate cancer, but nearly 100 did not.
The researchers, Shea Connell of the University of East Anglia’s Norwich Medical School and colleagues, looked at the expression of 167 genes in the samples. They found 35 genes that can help predict how dangerous a prostate cancer might be.
The investigators also tracked the men’s health for an average of six years. The profiles of 23 men whose cancer progressed were significantly different than those whose cancer did not progress.
Brooks said these findings are “promising enough that additional research in a larger population would be worthwhile.” But, he said a commercially available test would likely be a number of years away.
Dr. Manish Vira, vice chair for urologic research at Northwell Health’s Institute for Urology in Lake Success, N.Y., also reviewed the new research.
“This is a very interesting study as it represents the first multigene panel assessment of prostate cancer through a urine-based test. The new PUR test has potential to identify potentially aggressive prostate cancer earlier than traditional assessments in patients with low-risk disease,” he said.
Vira added that a potential future use would be to test patients repeatedly over time. Changes in the results might mean a change in a man’s tumor.
“While certainly the results are exciting, the test needs to be validated in a larger group of patients,” Vira said. And researchers would have to show that the test is cost-effective, too, he added.
The study was published June 26 in BJU International.
More information
Learn more about treatment for prostate cancer from the American Cancer Society.
SOURCES: Durado Brooks, M.D., vice president of cancer control interventions, American Cancer Society; Manish Vira, M.D., vice chair, urologic research, Northwell Health’s Arthur Smith Institute for Urology, Lake Success, N.Y.; June 26, 2019, BJU International

Philly’s Hahnemann University Hospital to close

Hahnemann University Hospital will close in early September, with the wind-down of services at the 496-bed facility starting immediately, hospital officials said Wednesday.
Officials representing American Academic Health System LLC, which bought Hahnemann and St. Christopher’s Hospital for Children early last year for $170 million, said the closing “on or about Sept. 6” would be orderly.

If no savior emerges and potential legal challenges don’t block it, the closure will eliminate 2,500 jobs, force other city hospitals to take on more patients, especially through the emergency room, and scatter hundreds of medical students and residents who train at the Center City facility.
“Our goal in acquiring the hospitals was to help them both flourish and provide world-class care,” Joel Freedman, founder and president of American Academic, said in a news release. “We relentlessly pursued numerous strategic options to keep Hahnemann in operation, and have been uncompromising in our commitment to our staff, patients, and community. We are saddened our efforts have not been successful, and we are faced with the heartbreaking reality that Hahnemann cannot continue to lose millions of dollars each month and remain in business.”
St. Christopher’s is not closing, Freedman said.
Hahnemann, which traces its roots to a homeopathic medical college opened in 1848, has been through a tumultuous era dating to at least 1993, when Allegheny Health, Education, and Research Foundation acquired it as part of rapid expansion that led in 1998 to what was then the nation’s largest nonprofit health-care bankruptcy.
Tenet Healthcare Corp. bought Hahnemann and eight other Allegheny hospitals in the Philadelphia region but quickly scaled back, hanging on to just Hahnemann and St. Christopher’s, which were frequently the subject of sales negotiations that failed until Freedman decided to leap across the country from his Southern California base.
In an April interview, Freedman said the financial problems of Hahnemann, in particular, were much worse than he expected.
Now, city officials are trying to block his immediate escape route.
In a letter sent to Freedman on Wednesday, Mayor Jim Kenney and Philadelphia Health Commissioner Thomas Farley cited a 1969 regulation that prohibits hospitals from discontinuing emergency care without the health commissioner’s authorization.
“Dr. Farley has not consented to any reduction in emergency care by Hahnemann,” the letter said. “Should AAHS discontinue emergency care or reduce its emergency care facilities without the required consent, we will ask the City Solicitor to go to court to enforce this long-standing regulation.”
The letter demanded a notice in writing by 10 a.m. Thursday “that you will not end or decrease emergency services before July 12 or without negotiating a closure plan acceptable to Dr. Farley.”
A spokesperson for American Academic said company officials “met with the city late this afternoon and will continue to do so to address all the issues raised in the city’s letter.”
Drexel University, which uses Hahnemann as the primary teaching hospital for its medical school, cited the 1969 regulation in a lawsuit Friday seeking a preliminary injunction to prevent an abrupt closure of the hospital. A Philadelphia Court of Common Pleas judge turned down that request Tuesday.
However, the judge ordered Hahnemann officials to share their closure plan with Drexel, according to an email Drexel president John Fry sent late Tuesday to College of Medicine faculty.
The draft closure plan, according to the city’s letter to Freedman, calls for the closure of most emergency and operating room services on Monday and the end of new admissions on July 12, with most clinical operations ceasing at the end of July.
“Drexel will strenuously oppose the plan,” Fry’s email said.
The Pennsylvania Association of Staff Nurses and Allied Professionals, which represents 800 registered nurses at Hahnemann, and District 1199C of the National Union of Hospital and Health Care Employees, which said it represents several hundred workers at Hahnemann, called on state and city officials to save Hahnemann.
“Hahnemann is a safety-net hospital that for decades has provided care to an under-served community,” PASNAP president Maureen May said in a statement. “We cannot allow predatory, for-profit companies to plunder such a valuable public good.”
“We are 100 percent opposed to the abrupt closure of Hahnemann University Hospital,” said Chris Woods, District 1199C’s executive vice president. “We must do everything possible to save thousands of good union jobs that provide family-sustaining wages and benefits.”
The unions, city officials, and Drexel have said the closure of Hahnemann would be devastating to health care in Philadelphia and have severe consequences for patients, but Temple University Health System said it was ready.
“Temple University Health System has been preparing for this situation since we first learned about the potential for closure, and TUHS has the capacity and the ability to treat any additional patients who come to us in the wake of today’s announcement,” Temple Health’s chief executive, Larry Kaiser, said in a statement.
For months, Freedman and his lobbyists had been warning of the potential closure and seeking financial help from government officials, commercial insurers, Drexel, and others to save the hospital, which lost money for 14 straight years under the previous owner, Tenet. Freedman said in April that Hahnemann was losing $3 million to $5 million a month.
Those efforts did not come to nothing, Gov. Tom Wolf’s office said in a statement Wednesday.
The state has allowed Hahnemann to defer nearly $20 million in state and city hospital assessments that are used to supplement Medicaid insurance for the poor at hospitals that serve large numbers of patients with Medicaid insurance, the statement said.
“In a more recent meeting, another payment model was offered along with a requirement for the hospital to undergo a performance audit, which would identify any financial concerns and ways to improve performance and make the hospital financially sustainable,” Wolf’s statement said.
“To date, Hahnemann has not responded to that offer.”

Myriad: 1st Cost Effectiveness Study of EndoPredict® for Breast Cancer

Myriad Genetics, Inc. (NASDAQ: MYGN), a global leader in personalized medicine, today announced that The Pharmacogenomics Journal published the results of the first comprehensive cost-effectiveness analysis of the EndoPredict® test compared to other breast cancer assays. The key finding is that EndoPredict test was more than twice as cost effective as Oncotype DX®. Breast cancer is the most common cancer in women worldwide.
“Payers would benefit from understanding the financial implications of using gene expression tests to determine recurrence risk in women with early-stage breast cancer,” said Malek B. Hannouf, Ph.D., lead investigator, London Health Sciences Centre, Ontario, Canada. “Our study provides firm evidence validating the economic value of incorporating EndoPredict into patient care.”
This study examined the cost effectiveness of incorporating gene expression testing into standard practice using data from the Anastrozole or Tamoxifen Alone or Combined (ATAC) clinical trial and cost data from the London Regional Cancer Program and other Canadian sources. The analysis evaluated three genetic tests compared to the clinicopathological (CP) features traditionally used to guide adjuvant treatment decisions. The primary endpoint was quality adjusted life years (QALY), which is a measure of the value of health outcomes. The results show that compared to the CP predictors alone-based strategy, EndoPredict was the single most cost-effective genetic test ($36,274/QALY) and was more than twice as cost effective as the market leading Oncotype DX test ($74,911/QALY).

Rite Aid routed after Q1 loss more than doubles vs. year ago

Rite Aid (NYSE:RAD-10.7% after-hours following a widening Q1 loss from continuing operations totaling $1B, or $1.88/share vs. a $0.79 net loss in the prior-year quarter, and adjusted EBITDA fell to $110.3M from $138M in the year-ago quarter.
Q1 revenues came in flat at $5.4B, and retail pharmacy segment same store sales increased 1.4%.
RAD says Q1 results failed to meet expectations “due to prescription reimbursement rate pressure in the retail pharmacy segment and margin compression in the pharmacy services segment.”
RAD reiterates its FY 2020 outlook for sales of $21.5B-$21.9B vs. $21.6B analyst consensus, with same store sales expected to come in flat to 1% higher vs. 2019; it also expects adjusted EBITDA of $500M-$560M and adjusted net loss income between a $0.14/share loss and $0.72 income.

KOL Very Bearish on Biogen’s (BIIB) Spinraza Outlook – Raymond James

https://www.streetinsider.com/Analyst+Comments/KOL+Very+Bearish+on+Biogens+%28BIIB%29+Spinraza+Outlook+-+Raymond+James/15650654.html