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Wednesday, September 4, 2019

Feds give states nearly $2 billion to combat opioid crisis

The U.S. Department of Health and Human Services (HHS) said on Wednesday it will offer states more than $1.8 billion in new funding to fight the opioid epidemic.
The funds will be used for expanding access to treatments for opioid overdosing and to gather case data from across states, the HHS said.
The Centers for Disease Control and Prevention will spend $900 million over three years – about $301 million in the first year – to help states and territories track overdose data as closely as possible, the HHS said here in a statement.
Meanwhile, HHS unit Substance Abuse and Mental Health Services Administration is awarding about $932 million to support prevention, treatment and recovery services.

Prescription opioid pain treatments and drugs like heroin and the more potent fentanyl were responsible for 47,600 U.S. deaths in 2017, according to the government, with only a small decline last year.
Drugmakers such as Johnson & Johnson and Endo International Plc are facing several lawsuits brought by states, counties and municipalities that seek to hold the companies responsible for opioid abuse nationwide.
A U.S. judge on Tuesday rejected efforts by major drugmakers, pharmacies and distributors to dismiss claims that they caused the nation’s opioid crisis, clearing the way for a landmark trial even as the judge pushes for a nationwide settlement.

Teladoc up 5% as partnership with UnitedHealth starts

Teladoc Health (TDOC +4.9%) perks up average volume on the heels of a published item from UnitedHealth Group’s (UNH -0.6%) UnitedHealthcare unit extolling the benefits of its Virtual Visits telemedicine program, used by ~500K members since its launch in 2016.
Most users thus far have been women who appear to have warmed to the convenience of online doctor consultations sooner than men. A recent survey of 5,000 consumers revealed that ~75% would consider using virtual care with a doctor for their dermatology, oncology, pre- and post-surgical and pregnancy checkups as well as behavioral health issues.
VP of Product Innovation Patrick Keran cites two primary hurdles constraining the growth of telemedicine: ease of use and increased awareness and promotion from employers.
TDOC will be joining the UnitedHealthcare network this month as the national Virtual Visit provider.

Y-mAbs started at Outperform by Wedbush

Target $58

Spero started at Buy by Wainwright

Target $28

Replimune started at Buy by Roth

Target $20

Dr Reddy’s upped to Outperform from Underperform by Credit Suisse

https://www.benzinga.com/stock/RDY/ratings

Ovid Therapeutics started at Outperform by RBC

Target $12