CMS Issues Guidance on Containing Spread of Coronavirus

The Centers for Medicare & Medicaid Services issued two guidance documents related to helping contain the spread of the coronavirus, primarily aimed at ensuring that health care providers are implementing proper infection control procedures.
The first guidance document, “Guidance for Infection Control and Prevention Concerning Coronavirus Disease (COVID-19): FAQs and Considerations for Patient Triage, Placement and Hospital Discharge,” issued March 4, provides some basic guidance, including identifying which patients are at risk, how facilities should screen for COVID-19, how facilities should monitor or restrict health care facility staff, and other recommendations for infection prevention and control.
“Hospitals should identify visitors and patients at risk for having COVID-19 infection before or immediately upon arrival to the healthcare facility,” the guidance document notes. “For patients, implement respiratory hygiene and cough etiquette (i.e., placing a face mask over the patient’s nose and mouth if that has not already been done) and isolate the patient in an examination room with the door closed. If the patient cannot be immediately moved to an examination room, ensure they are not allowed to wait among other patients seeking care.”
The document offers further information regarding the care of patients and provides numerous links to existing guidance from the Centers for Disease Control and Prevention.

The second document, “Guidance for Infection Control and Prevention of Coronavirus Disease 2019 (COVID-19) in Nursing Homes,” issued the same day, provides information on how to limit and monitor visitors as well as monitor and restrict health staff. It details when to transfer residents with suspected or confirmed coronavirus infection, and when a nursing home should accept a resident diagnosed with COVID-19.
Facilities “should contact their local health department if they have questions or suspect a resident of a nursing home has COVID-19,” the document states. “Per CDC, prompt detection, triage and isolation of potentially infectious patients are essential to prevent unnecessary exposure among patients, healthcare personnel, and visitors at the facility.”
The CMS also announced that it is suspending all nonemergency survey activity.
“CMS is suspending nonemergency inspections across the country, allowing inspectors to turn their focus on the most serious health and safety threats like infectious diseases and abuse,” the agency stated in a March 4 memo. “This shift in approach will also allow inspectors to focus on addressing the spread of . . . COVID-19. CMS is issuing this memorandum to State Survey Agencies to provide important guidelines for the inspection process in situations in which a COVID-19 is suspected.”
In a statement, CMS Administrator Seema Verma said these actions “represent a call to action across the health care system. All health care providers must immediately review their procedures to ensure compliance with CMS’ infection control requirements, as well as the guidelines from the Centers for Disease Control and Prevention.”
https://www.medscape.com/viewarticle/926331

Fed quarantines U.S. dollars repatriated from Asia on coronavirus caution

The greenback faces the same fate as many travelers returning home from China and other coronavirus hot spots.

The U.S. Federal Reserve has begun quarantining physical dollars that it repatriates from Asia before recirculating them in the U.S. financial system as a precautionary measure against spreading the virus, a Fed spokesperson told Reuters.
She said regional Fed banks that help manage the money supply will set aside shipments of dollars from Asia for seven to 10 days before processing and redistributing them to financial institutions. The policy, first reported by Reuters, was implemented on Feb. 21, the official said.
The outbreak originated in China and more than 100,000 people have been infected in over 85 countries, according to a Reuters tally based on statements from health ministries and government officials.
According to the CDC, it “may be possible” to transmit the virus through objects that have had direct contact with it, but person-to-person contact is the main means of spreading the disease. The CDC recommends U.S. residents returning from China and other high-risk countries stay home for 14 days.

The World Health Organization, however, has been much more cautious on risks posed by currency notes, advising consumers to use contactless payments whenever possible, according to several British media reports.
As the global reserve currency, U.S. dollars are the most widely distributed notes in the world with around $1.75 trillion worth of cash in circulation globally, according to the Fed. Much that is circulated overseas, particularly in Asia where the dollar is often stronger than local currencies.
It is also filthy. A 2014 study by researchers at New York University identified 3,000 types of bacteria on dollar bills due to how widely and frequently they change hands.
The U.S. central bank has not gone as far as its counterparts in China and Korea, which have ordered local currency notes to be disinfected with ultraviolet light or destroyed altogether. But Fed officials are in regular contact with the CDC and State Department regarding the spread of the virus and are prepared to add other regions to its quarantine list, the spokesperson said.
The 12 Fed banks from Richmond, Virginia to San Francisco are responsible for managing the supply of dollars and coins, accepting deposits of excess cash from banks across the world while doling out currency to institutions that request it. Some overseas banks ship their excess dollars back to the United States on commercial flights.

The reserve banks process the currency they receive, including removing damaged notes from circulation and identifying counterfeit bills. It takes between five and 60 days for the Fed to process currency, with higher value notes being processed most quickly, the San Francisco Fed says on its website.
On average, the Fed distributes $34 billion in paper notes every year, according to the San Francisco Fed.
https://www.reuters.com/article/us-health-coronavirus-fed-dollars/fed-quarantines-u-s-dollars-repatriated-from-asia-on-coronavirus-caution-idUSKBN20T1YT?il=0

EssilorLuxottica Expects Better 2020 Despite Coronavirus

EssilorLuxottica SA said Friday that revenue grew in 2019 and raised its dividend as it guided for sales and earnings growth in 2020, despite headwinds posed by coronavirus.
The Franco-Italian optical giant reported net profit of 1.08 billion euros ($1.21 billion), flat compared with a restated figure of EUR1.08 billion the year previous and falling short of analysts’ expectations of EUR1.56 billion, according to a FactSet consensus estimate.
Net profit adjusted for the Essilor-Luxottica merger and other one-offs rose 9.2% to EUR1.94 billion, the company said.
The company–which was created in October 2018 from the combination of optical-lens manufacturer Essilor and luxury-eyewear maker Luxottica–said revenue was EUR17.39 billion, up from a pro forma figure of EUR16.19 billion in 2018 and broadly in line with analysts’ expectations of EUR17.36 billion, according to a consensus estimate provided by FactSet.
At constant currencies, revenue rose 4.4%, driven by growth in all divisions, EssilorLuxottica said.
“The current [coronavirus] epidemic has a negative impact on the company’s business in Greater China, which represents approximately 5% of consolidated revenue,” EssilorLuxottica said, adding that its revenue in other regions has also been slightly hit by the virus.
In spite of this, EssilorLuxottica said it expects to grow its sales and earnings for the year, assuming that the epidemic will subside in the next few months.
EssilorLuxottica guided for sales growth of 3%-5% at constant exchange rates, and said it expects operating profit for the period–adjusted for the expenses from the Essilor-Luxottica merger and other special items–growing at 0.7 times to 1.2 times the pace of sales growth. Adjusted net profit, adjusted for the same factors, should also grow at 0.7 times to 1.2 times the pace of sales growth, EssilorLuxottica said.
The Paris-listed company’s 2020 guidance is reassuring as is the fact that it shared that its plants in China are operating at a slightly reduced capacity at the moment, and that they are quickly going back to normal, Bernstein analyst Luca Solca said. Its factories in Italy and elsewhere are working at full capacity, EssilorLuxottica added.
EssilorLuxottica also backed its expectation of merger synergies of EUR300 million-EUR350 million on its adjusted operating profit for 2019-2021, and of EUR420 million-EUR600 million by 2022-2023. It also expects to appoint a CEO for the combined company by the end of the year, it said.
The eyewear company declared a dividend of EUR2.23 a share compared with EUR2.04 a share for 2018.

https://www.marketscreener.com/ESSILORLUXOTTICA-4641/news/EssilorLuxottica-Expects-Better-2020-Despite-Coronavirus-30118815/

CVS waives co-pays for coronavirus testing, telemedicine visits

Washington State and California have already mandated no cost-sharing on coronavirus testing and doctor visits, and CVS is going a step further, offering this nationwide for Aetna members, as well as zero co-pay for telemedicine visits for any reason.

It’s probably a pretty good business decision, particularly in an election year, and also not a bad way to advertise the telemedicine business.

There will no doubt be pressure on other insurers to do the same. Cigna, for example, announced its copay waiver for its members yesterday.

Related names: Anthem (NYSE:ANTM), Cigna (NYSE:CI), eHealth (NASDAQ:EHTH), Centene (NYSE:CNC), UnitedHealth (NYSE:UNH)

https://seekingalpha.com/news/3549403-cvs-waives-co-pays-for-coronavirus-testing-telemedicine-visits

Key events next week – healthcare

Noteworthy events during the week of March 8 – 14 for healthcare investors.

SUNDAY (3/8): Conference on Retroviruses and Opportunistic Infections, Boston (4 days). CytoDyn (OTCQB:CYDY): Preclinical on PRO 140 supporting preexposure prophylaxis.

TUESDAY (3/10): FDA action date for Bristol-Myers Squibb‘s (NYSE:BMY) Opdivo (nivolumab) + Yervoy (ipilimumab) for advanced hepatocellular carcinoma patients who have previously received Bayer’s Nexavar (sorafenib).

WEDNESDAY (3/11): European Neuroendocrine Tumor Society Annual Conference, Barcelona (3 days).

THURSDAY (3/12): Aridis Pharmaceuticals (NASDAQ:ARDS) Investor Day, NYC.

FRIDAY (3/13): American Academy of Asthma, Allergy and Immunology Annual Meeting, Philadelphia (4 days).

SATURDAY (3/14): FDA action for Merck‘s (NYSE:MRK) Ebola vaccine.

https://seekingalpha.com/news/3549367-key-events-next-week-healthcare

Enzo Biochem up 64% premarket on launch of coronavirus testing service

Thinly traded micro cap Enzo Biochem (NYSE:ENZ) jumps 64% premarket on increased volume in reaction to its announcement that it will begin accepting respiratory specimens next week for its in-house test for COVID-19.

The company says it is consulting with the CDC on the implementation of enhanced offerings such as virus-inactivating specimen collection media to lessen transmission risks for healthcare providers and clinical laboratory personnel, the development of more relevant positive controls and improved sensitivity.

https://seekingalpha.com/news/3549373-enzo-biochem-up-64-premarket-on-launch-of-coronavirus-testing-service

AbbVie Gets European Commission Approval to Shorten Maviret Regimen

AbbVie Inc. said Friday the European Commission has approved a change to the marketing authorization for Maviret glecaprevir/pibrentasvir to shorten once-daily treatment duration to eight weeks from in treatment-naive, compensated cirrhotic, chronic hepatitis C patients with genotype 3 infection.
Maviret was already indicated as an eight-week, pan-genotypic, once-daily regimen for treatment-naive HCV patients without cirrhosis, and as an eight-week, once-daily regimen for treatment-naive GT 1, 2, 4, 5 and 6 HCV patients with compensated cirrhosis.
AbbVie said the EC approval is supported by data from the Phase 3b study, which evaluated safety and efficacy of Maviret in treatment-naive chronic HCV patients with compensated cirrhosis across all major genotypes.
To date, one virologic failure has been reported and no patients have discontinued treatment due to adverse events.

https://www.marketscreener.com/ABBVIE-INC-12136589/news/AbbVie-Gets-European-Commission-Approval-to-Shorten-Maviret-Regimen-30119769/