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Wednesday, January 6, 2021

CVS: Long-Term Care Vaccine Campaign is On Track

 CVS Health Corp.'s Covid-19 vaccination program for long-term care facilities is on track, the Woonsocket, R.I.-based pharmacy and healthcare company said Wednesday.

The company said it is administering vaccines in skilled-nursing facilities in 49 states, after it added 36 states and Washington, D.C., to its roll-out last week. CVS said it expects to finish administering first doses in the nearly 8,000 skilled-nursing facilities where it is providing vaccines by Jan. 25.

By next week, states will have given CVS the go-ahead to begin vaccinations at nearly 31,000 assisted-living facilities, the company said.

CVS Health Chief Executive Larry Merlo said the vaccination effort is challenging because it requires health-care providers to make in-room visits to each resident at the facilities that are part of the program.

https://www.marketscreener.com/quote/stock/CVS-HEALTH-CORPORATION-12230/news/CVS-Health-Says-Long-Term-Care-Vaccine-Campaign-is-On-Track-32131342/

Germany says does not intend to delay second COVID-19 vaccine shot

 Germany intends to stick to recommendations by BioNTech and Pfizer regarding the administration of a second dose of their COVID-19 vaccines rather than delaying it, Health Minister Jens Spahn said on Wednesday.

Germany has asked an independent expert panel for advice on whether to allow a delay in administering the second dose to make scarce supplies go further, after a similar move by Britain last week.

“My impression is that it makes a lot of sense, especially with these sensitive issues, where trust and reliability are important, that we stick to the approval,” Spahn told a news conference, adding that this was in line with the initial feedback he had received from the vaccination experts.

He also spoke out against mixing or switching between COVID-19 vaccines, which some nations are also considering to stretch scarce supplies.

Germany’s 83 million residents will receive more than 130 million COVID-19 vaccine doses, enough for everybody who needs to receive the shots, Spahn said.

He said that he expects first deliveries of the vaccine developed by Moderna next week. The European Medicines Agency earlier on Wednesday approved the U.S. drugmaker’s vaccine for emergency use.

Germany will receive 50 million doses of the Moderna vaccine this year, of which 2 million doses are expected in the first quarter, he said.

https://www.reuters.com/article/us-health-coronavirus-germany-spahn/germany-says-does-not-intend-to-delay-second-covid-19-vaccine-shot-idUSKBN29B1FU

EU may soon approve extra doses from vials of Pfizer COVID-19 vaccine

 The European drugs regulator could shortly approve an amendment to its approval of the Pfizer-BioNTech COVID-19 vaccine that would permit the extraction of six doses from a vial instead of five, an EU official told Reuters on Wednesday.

The source, who asked to remain anonymous because discussions are not public, said the change to the authorisation could come “very soon”.

The European Medicines Agency (EMA) recommended on Dec. 21 the conditional approval of the Pfizer vaccine. Under that authorisation five doses should be extracted from each vial.

The change could add a requirement for the use of special syringes that allow the precise extraction of more doses from the same vial, the official said.

“The responsible people in the member states should order these special syringes (Low Dead Space Syringes) now,” EU lawmaker Peter Liese said, adding they were widely available and could cost as little as 0.09 euros ($0.1) each.

This change in the recommended dosage could allow 20% more people to be vaccinated in the EU with doses ordered so far from Pfizer, Liese said.

The EU has secured 200 million doses, and has taken up an option for another 100 million. It is also in talks for a new order of 50 to 100 million doses, EU officials told Reuters on Tuesday.

EU states could use EU vaccines in different ways from those recommended by EMA, but if they do so they face liability risks.

https://www.reuters.com/article/us-health-coronavirus-ema-pfizer/eu-may-soon-approve-extra-doses-from-vials-of-pfizer-covid-19-vaccine-source-idUSKBN29B1NZ

China plays down WHO concern about delay in coronavirus team's trip

 China played down on Wednesday World Health Organization (WHO) concern about a delay in authorisation for a visit by team of experts looking into the origins of the novel coronavirus, saying arrangements were being worked out.

The head of the WHO, Tedros Adhanom Ghebreyesus, said on Tuesday he was “very disappointed” that China had not authorised the entry of the team for the investigation, which he said was a WHO priority.

The novel coronavirus was first detected in the Chinese city of Wuhan in late 2019 and has since spread around the world.

Much remains unknown about its origins and China has been sensitive about any suggestion it could have done more in the early stages of the pandemic to stop it.

Foreign ministry spokeswoman Hua Chunying, told a regular news briefing in Beijing that the problem was “not just about visas” for the team.

Asked about reports that the dates had been agreed upon, she said there had been a “misunderstanding” and the two sides were still in discussions over the timing and other arrangements and “remain in close communication”.

“There’s no need to overinterpret this,” she said.

China’s experts were also busy dealing with a renewed spurt of coronavirus infections, with many locations entering a “wartime footing” to stop the virus, she said.

The 10-strong team of international experts had been due to set off in early January as part of a long-awaited mission to investigate early cases of the disease.

China has been seeking to shape the narrative about when and where the pandemic began, with senior diplomat Wang Yi saying “more and more studies” showed that it emerged in multiple regions. WHO emergencies chief Mike Ryan has previously called this “highly speculative”.

China has also dismissed criticism of its handling of early cases although some including U.S. President Donald Trump have questioned its actions during the outbreak.

The United States, which has announced plans to leave the WHO, has called for a “transparent” investigation and criticised the terms under which Chinese experts conducted a first phase of research.

The mission is due to be led by Peter Ben Embarek, the WHO’s top expert on animal diseases that cross the species barrier, who went to China on a preliminary mission last July.

https://www.reuters.com/article/us-health-coronavirus-who-china/china-plays-down-who-concern-about-delay-in-coronavirus-teams-trip-idUSKBN29B14I

UnitedHealth to buy Change Healthcare for nearly $8 billion to boost tech services

 Health insurer UnitedHealth Group on Wednesday agreed to buy Change Healthcare for $7.84 billion in cash to boost its healthcare technology services business under the Optum division.

UnitedHealth will pay $25.75 per Change Healthcare share, a premium of 41.2% to Tuesday’s closing price. Shares of Change were trading near the offer price at $24.90.

The acquisition of Change, which collaborates with payers and providers to simplify billing and payment processes among other things, is expected to add to UnitedHealth’s adjusted earnings per share by about 50 cents in 2022.

Optum offers data, software and services to insurance firms, physicians, hospitals and pharmaceutical companies. The unit accounted for more than half of UnitedHealth’s total revenue of $65.1 billion in the quarter ended Sept. 30.

“Together we will help streamline and inform the vital clinical, administrative and payment processes on which health care providers and payers depend to serve patients,” Andrew Witty, president of UnitedHealth and chief executive officer of Optum, said in a statement on Wednesday.

https://www.reuters.com/article/us-change-healthcar-m-a-unitedhealth/unitedhealth-to-buy-change-healthcare-for-7-84-billion-to-build-up-technology-services-idUSKBN29B1AU

EU agency approves Moderna’s COVID-19 vaccine

 The European Union’s medicines agency gave the green light Wednesday to Moderna Inc.’s COVID-19 vaccine, a decision that gives the 27-nation bloc a second vaccine to use in the desperate battle to tame the virus rampaging across the continent.

The approval recommendation by the European Medicines Agency’s human medicines committee -- which must be rubber-stamped by the EU’s executive commission -- comes amid high rates of infections in many EU countries and strong criticism of the slow pace of vaccinations across the region of some 450 million people.

“This vaccine provides us with another tool to overcome the current emergency,” said Emer Cooke, Executive Director of EMA. “It is a testament to the efforts and commitment of all involved that we have this second positive vaccine recommendation just short of a year since the pandemic was declared by WHO.”

European Commission President Ursula von der Leyen welcomed the approval and added in a tweet: “Now we are working at full speed to approve it & make it available in the EU.”

The EMA has already approved a coronavirus vaccine made by American drugmaker Pfizer and Germany’s BioNTech. Both vaccines require giving people two shots.

The EU has ordered 80 million doses of the Moderna vaccine with an option for a further 80 million. The bloc also has committed to buying 300 million doses of the Pfizer-BioNTech vaccine.

Ahead of the meeting on the Moderna vaccine, the agency said in a tweet that its experts were “working hard to clarify all outstanding issues with the company.” It did not elaborate on what those issues were. Moderna also declined to comment.

German Health Minister Jens Spahn — who has in the past been critical of the slow pace of the EMA — said shortly before the announcement of the EMA approval that he expected the Moderna vaccine to begin rolling out to EU nations next week. Germany would get 2 million doses in the first quarter and 50 million in all of 2021, Spahn told reporters in Berlin.

“The problem is the shortage of production capacity with global demand,” he said.

Spahn said that if further vaccines beyond the BioNTech-Pfizer and Moderna shots are approved in the EU, “we’ll be able to offer everyone in Germany a vaccine by the summer.”

He insisted that the strategy of bulk-buying for the entire bloc had been the right one as it had given manufacturers certainty to go ahead with production and ensured fair distribution among all the 27 countries.

Early results of large, still unfinished studies show both the Moderna and the Pfizer-BioNTech vaccines appear safe and strongly protective, although Moderna’s is easier to handle since it doesn’t need to be stored at ultra-frozen temperatures.

The EU agency gave the green light to use the Moderna vaccine on people age 18 year and above. It said side effects “were usually mild or moderate and got better within a few days after vaccination.”

The most common side effects are “pain and swelling at the injection site, tiredness, chills, fever, swollen or tender lymph nodes under the arm, headache, muscle and joint pain, nausea and vomiting,” the EMA said.

Cook stressed that EU authorities “will closely monitor data on the safety and effectiveness of the vaccine to ensure ongoing protection of the EU public. Our work will always be guided by the scientific evidence and our commitment to safeguard the health of EU citizens.”

The United States, Canada and Israel have already approved use of the Moderna vaccine. The U.S. gave it the green light for emergency use in people over 18 years on Dec. 18, followed by Canada five days later with an interim authorization also for people over 18. Israel authorized the vaccine on Monday.

Moderna said Monday that it is increasing its estimate for global vaccine production in 2021 from 500 to 600 million doses. The company said it is “continuing to invest and add staff to build up to potentially 1 billion doses for 2021.”

Both Moderna’s and Pfizer-BioNTech’s shots are mRNA vaccines, made with a groundbreaking new technology. They don’t contain any coronavirus – meaning they cannot cause infection. Instead, they use a piece of genetic code that trains the immune system to recognize the spike protein on the surface of the virus, ready to attack if the real thing comes along.

The EU officially began giving out Pfizer-BioNTech vaccination shots on Dec. 27, but the speed of each nation’s inoculation program has varied widely. France vaccinated around 500 people in the first week, while Germany vaccinated 200,000. The Dutch were only beginning to give out vaccine shots Wednesday, the last EU nation to start doing so.

Austrian Chancellor Sebastian Kurz tweeted that approval of the Moderna vaccine “is another important step in the fight against the pandemic. This means we have more vaccine available in the EU and can fight the pandemic faster.”

AmerisourceBergen To Acquire Majority Of Walgreens' Alliance Healthcare

 AmerisourceBergen Corp. (ABC) and Walgreens Boots Alliance, Inc. (WBA) announced Wednesday strategic agreements under which AmerisourceBergen will acquire the majority of Walgreens' Alliance Healthcare businesses for about $6.5 billion, comprised of $6.275 billion in cash and 2 million shares of AmerisourceBergen common stock.

The cash consideration is subject to a customary working capital and net-debt adjustment. The transaction has been approved by the AmerisourceBergen and Walgreens Boots Alliance Boards of Directors.AmerisourceBergen expects to fund the cash purchase price through a combination of cash on hand and new debt financing.

The transaction, which is expected to close by AmerisourceBergen's fiscal year-end 2021, is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals. Walgreens Boots Alliance's operations in China, Italy and Germany are not part of this transaction.

Upon closing, the acquisition of Alliance Healthcare is expected to deliver high-teens percentage accretion to AmerisourceBergen's adjusted diluted EPS in the first fiscal year. AmerisourceBergen expects synergies from the acquisition of Alliance Healthcare to ramp to an annual run-rate of $75 million in the fourth year.

Effective from Walgreens Boots Alliance second quarter fiscal 2021 earnings, the businesses sold will be classified as "businesses held for sale" with fiscal 2020 revenues of approximately $19 billion, and adjusted EBITDA of approximately $540 million.

Walgreens Boots Alliance expects fiscal 2021 adjusted EBITDA to be in the range of $575 million to $580 million for these Alliance Healthcare businesses. The transaction will be slightly dilutive in the current financial year for Walgreens Boots Alliance, but will be accretive longer-term.

In addition to this transaction, the two companies have agreed to strengthen their strategic partnership by extending and expanding their commercial agreements.

Their U.S. distribution agreement will be extended by three years until 2029 and their partnership is being expanded to include a commitment to pursue additional opportunities in sourcing and distribution. Furthermore, Alliance Healthcare UK will remain the distribution partner of Boots until 2031. Together, these agreements are expected to create incremental growth, synergies and efficiencies.

https://www.nasdaq.com/articles/amerisourcebergen-to-acquire-majority-of-walgreens-alliance-healthcare-businesses-quick