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Thursday, July 1, 2021

Walgreens expects lower COVID-19 vaccinations in Q4, shares fall

 Walgreens Boots Alliance Inc said on Thursday it expects to administer fewer COVID-19 vaccines in the fourth quarter after inoculations peaked in the previous quarter, sending its shares down nearly 7%.

Walgreens had been relying on gains from administering COVID-19 vaccines to tide over losses from low prescription volumes and a weak flu season that has hampered over-the-counter sales of health and wellness products in recent quarters.

The Deerfield, Illinois-based company, among the largest U.S. pharmacies, administered 17 million vaccines in the third quarter, helping it beat analysts' sales estimates. Overall, 25 million shots have been given to Americans through Walgreens, 7.6% of all U.S. vaccinations.

The company now expects to administer 28 million vaccinations in 2021, with around seven million in the fourth quarter compared to 17 million in the third quarter.

The company had earlier planned to administer 26 million to 34 million COVID-19 vaccine doses in 2021.

"This quarter was peak quarter for (COVID-19) vaccinations," Chief executive Officer James Kehoe said, adding that a slowdown in vaccination rate was also due to U.S. President Joe Biden's push to have 70% of adults receive at least one dose of a COVID-19 vaccine by July 4.

The company said it anticipates a slower growth in earnings per share in the fourth quarter compared to the previous quarter.

Same-store prescriptions filled at Walgreens' pharmacies rose 9.8% in the quarter, including a 6% boost from COVID-19 vaccines.

The company raised its 2021 adjusted earnings per share growth forecast from mid-to-high single digit to around 10%.

Revenue rose 12.1% to $34.0 billion in the quarter, ahead of estimates of $33.8 billion.

Shares of rival drugstore chains Rite Aid Corp and CVS Health Corp were also down marginally.

https://finance.yahoo.com/news/walgreens-raises-fy-profit-growth-112304019.html

Mesoblast to Hold Type C Meeting With FDA for Back Pain Treatment

 Mesoblast Ltd. said it has filed a request and expects to hold a Type C meeting with the U.S. Food & Drug Administration during the current quarter to discuss the pathway to U.S. regulatory approval for rexlemestrocel-L following the recently completed 404 patient Phase 3 trial in patients with chronic inflammatory back pain due to degenerative disc disease.

The company said the move is part of its strategy for bringing rexlemestrocel-L to patients in the U.S. with chronic low back pain due to degenerative disc disease refractory.

Mesoblast said it plans to use the results from a planned U.S. trial to support potential product approvals in both the U.S. and EU by including 20% EU patients in order to provide regulatory harmonization, cost efficiencies and streamlined timelines, without initiating an EU trial. Mesoblast and its partner in Europe and Latin America, Grunenthal, have amended their collaboration agreement, with Mesoblast being eligible to receive payments up to $112.5 million prior to product launch in the EU, inclusive of $17.5 million already received, if certain clinical and regulatory milestones are satisfied and reimbursement targets are achieved.

Cumulative milestone payments could reach $1 billion depending on the final outcome of Phase 3 studies and patient adoption. Mesoblast also will receive tiered double-digit royalties on product sales as per the original agreement.

https://www.marketscreener.com/quote/stock/MESOBLAST-LIMITED-6499027/news/Mesoblast-to-Hold-Type-C-Meeting-With-FDA-for-Back-Pain-Treatment-35765459/

Spero Therapeutics Shares Rise 15% After $40 Million Investment From Pfizer

 Spero Therapeutics Inc. shares rose 15% to $16 after the company said Pfizer Inc. made a $40 million equity investment in it as part of its Pfizer Breakthrough Growth Initiative.

The two companies also entered into a licensing agreement for SPR206, Spero's intravenously-administered next-generation polymyxin product candidate being developed to treat serious multi-drug resistant Gram-negative infections in the hospital setting.

Spero said it intends to use the proceeds from the equity investment to prepare for the potential approval and launch of tebipenem HBr, as well as to support the continued clinical development of SPR720 and SPR206.

Pfizer bought 2.4 million common shares of Spero at $16.93 a share.

Spero granted Pfizer the rights to develop, manufacture, and commercialize SPR206 in ex-U.S. and ex-Asia territories. In exchange, Spero is eligible to receive up to $80 million in development and sales milestones, and high single digit to low double-digit royalties on net sales of SPR206.

Based on its current projections, Spero believes that the proceeds from the $40 million equity investment will extend its cash runway into the second half of 2022.

https://www.marketscreener.com/quote/stock/SPERO-THERAPEUTICS-INC-38533873/news/Spero-Therapeutics-Shares-Rise-15-After-40-Million-Investment-From-Pfizer-35770162/

Migraine Frequency, Severity Drop Substantially With Diet Interventions

 A diet higher in two omega-3 fatty acids, eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), reduced headache frequency and intensity and lowered levels of pain-related lipids in migraine patients, a randomized controlled trial showed.

Compared with people on a diet higher in linoleic acid (omega-6), people who consumed more EPA and DHA experienced 30% to 40% reductions in total headache hours per day, severe headache hours per day, and overall headache days per month, reported Christopher Ramsden, MD, of the National Institute on Aging in Baltimore, Maryland, and colleagues, in The BMJ.

High EPA and DHA diets increased circulating 17-hydroxydocosahexaenoic acid (17-HDHA), but did not affect scores on the headache impact test (HIT-6), a six-item questionnaire assessing headache impact on quality of life.

"This is the first moderate-sized controlled trial showing that targeted changes in diet can decrease chronic physical pain," Ramsden said. "The biochemical findings support the biological plausibility of this type of approach," he told MedPage Today.

EPA and DHA are found in fatty fish. Linoleic acid is a polyunsaturated fatty acid commonly derived from corn, soybean, and similar oils, and some nuts and seeds.

Modern industrialized diets tend to be low in EPA and DHA and high in linoleic acid. These fatty acids are precursors to oxylipins, which are involved in regulating pain and inflammation. In preclinical models, linoleic acid has been shown to increase pain.

The trial included 182 people with a baseline average of 16.3 headache days per month and 5.4 headache hours per day. Two-thirds (67%) met criteria for chronic migraine (more than 15 headache days a month). Baseline mean HIT-6 scores indicated headaches had a severe effect on quality of life. The group had a mean age of 38 and 88% were women.

Participants received meal kits that included fish, vegetables, hummus, salads, and breakfast items, and were randomly assigned to one of three diets with EPA, DHA, and linoleic acid altered as variables.

The control group had a diet with high linoleic acid levels and low levels of EPA and DHA, mimicking average U.S. intakes. Both interventional diets raised omega-3 intake: one had high EPA and DHA and high linoleic acid levels (the H3 group); the other had high EPA and DHA and low linoleic acid levels (the H3-L6 group).

Primary endpoints were the anti-nociceptive mediator 17-HDHA in blood and HIT-6 scores at week 16. Headache frequency was assessed daily with an electronic diary.

The H3-L6 and H3 diets increased circulating 17-HDHA (log ng/mL) compared with the control diet (baseline-adjusted mean difference 0.6, 95% CI 0.2-0.9 and 0.7, 95% CI 0.4-1.1, respectively).

The diets reduced mean HIT-6 scores by 1.6 and 1.5, respectively, but were not statistically significant. A between-group minimally important difference in HIT-6 score has been estimated at 1.5 in other research.

Compared with the control diet, the H3-L6 and H3 diets decreased total headache hours per day by 1.7 and 1.3, moderate-to-severe headache hours per day by 0.8 and 0.7, and headache days per month by 4.0 and 3.3, respectively. The H3-L6 diet decreased headache days per month more than the H3 diet (-2.0, 95% CI −3.2 to -0.8), suggesting additional benefit from lowering dietary linoleic acid.

Both interventional diets altered blood levels of bioactive oxylipins implicated in headache pathogenesis, but did not alter classic mediators of headache pain such as prostaglandins E2 or calcitonin gene related peptide (CGRP).

"Although this is statistically a negative study with regard to the primary clinical endpoint, there are several factors that make the overall findings clinically meaningful," noted Rebecca Burch, MD, of Brigham and Women's Hospital and Harvard Medical School in Boston, in an accompanying editorial.

"International Headache Society guidelines and regulatory standards specify the use of headache or migraine frequency as the preferred outcome measure for trials of preventive interventions for migraine," Burch wrote. "Interpretation of this study's findings is therefore complex: the study was negative according to the prespecified primary outcome, but would have been positive if judged by more guideline-adherent endpoints."

The trial results are notable for their magnitude of response, Burch added. "Clinical trials of recently approved pharmacological treatments for migraine prevention, such as monoclonal antibodies to the calcitonin gene related peptide, reported reductions of approximately 2-2.5 headache days per month in the intervention group compared with placebo," she wrote. "The new trial suggests that a dietary intervention can be comparable or better. Dietary interventions combined with pharmacological treatments might have an additive benefit."

Limitations of the study include using HIT-6 as the primary outcome instead of a more specific pain measure, Ramsden and colleagues acknowledged. Despite the intensive nature of the study's interventions, participants were unable to lower dietary linoleic acid to the study's energy target of 1.8% in the H3-L6 group. Most participants were relatively young women and results may not apply to other populations.

"There is an unmet need for safe and effective treatments for chronic pain," Ramsden said. "The findings could open the door to new approaches for managing pain in humans, but we still know very little. With additional study, it may ultimately be possible to design better diets and integrate targeted dietary changes alongside medications to improve the lives of patients with chronic pain."


Disclosures

The study was supported by the NIH, the National Institute on Aging (NIA), and the National Institute on Alcohol Abuse and Alcoholism.

The researchers disclosed no financial relationships with any organizations that might have an interest in the submitted work in the previous 3 years. The NIA (NIH) has claimed intellectual property related to stable analogs of oxidized lipid mediators with two of this study's authors named as inventors.

Burch disclosed serving on the board of directors of the American Headache Society and the Headache Cooperative of New England, and receiving a stipend for work as an associate editor for Neurology.

Big Y, Bonum Health(TM) (TRxADE HEALTH Co.) to deploy New Telemedicine Program

 TRxADE HEALTH INC. (NASDAQ:MEDS) an integrated drug procurement, delivery, and healthcare platform, today announced that Bonum Health, a Digital Healthcare business subsidiary has signed a Telemedicine Service Distribution Deal with Big Y Pharmacy and Wellness Centers within their supermarkets in Massachusetts and Connecticut.

Bonum Health will provide affordable telemedicine services to the patients of all Big Y pharmacies by offering Bonum Health's signature Mobile Health Services and prescriber program, staffed by over 600 board-certified medical providers. The partnership also provides Big Y patients direct access to prescription discount savings through Bonum Health. The gap between uninsured and under-insured consumers across Massachusetts and Connecticut widens daily, and consumers are demanding easier access to affordable healthcare providers.

"Big Y wanted to expand our digital healthcare offerings and to enhance our collaborative care network. Bonum Health is a strategic partner that helps us diversify our in-store and community digital healthcare services. Their mobile application enables a turn-key Telemedicine and Prescriptions Savings tool to seamlessly integrate into our Big Y pharmacies," stated Steve Nordstrom, Director of Center Store and Pharmacy.

Ashton Maaraba, President of Bonum Health noted, "We are thrilled and fortunate to team up with Big Y and their outstanding Health & Wellness leadership and in-store staff. Big Y pharmacy leadership recognized an opportunity to provide greater access to deeply discounted low-cost care to their patients, in combination with furthering their prescription discounts, under our unique digital platform, and Big Y chose Bonum Health. We are looking forward to serving each Big Y consumer household."

About TRxADE HEALTH, INC.
TRxADE HEALTH (NASDAQ:MEDS) is a health services IT company focused on digitalizing the retail pharmacy experience by optimizing drug procurement, the prescription journey and patient engagement in the U.S. The Company operates the TRxADE drug procurement marketplace serving a total of 12,100+ members nationwide, fostering price transparency and under the Bonum Health brand, offering patient centric telehealth services. For info on TRxADE HEALTH, please visit the Company's IR website at investors.trxadegroup.com.

Alterity gets new US patent targeting major neurodegenerative diseases including Alzheimer's, Parkinson's

 Alterity Therapeutics (ASX: ATH, NASDAQ: ATHE) ("Alterity" or "the Company") has today announced the granting of a new composition of matter patent by the United States Patent and Trademark Office (USPTO). The patent secures a broad monopoly over a new class of iron chaperones, a technology capable of redistributing excess iron in the central nervous system. The structural backbone depicted in the patent provides the foundation for small molecule drug candidates with potential to cross the blood brain barrier and directly attack a source of neuropathology.

Excess iron in the brain is implicated in the pathology of many important neurodegenerative diseases, such as Alzheimer's and Parkinson's diseases[1].

The patent, entitled "Compounds for and Methods of Treating Diseases" (Application No. 16/818,641), was granted following expedited review by the USPTO. It covers more than 150 novel pharmaceutical compositions that are designed to redistribute the labile iron implicated in many neurodegenerative conditions.

Alterity is on track to launch the Phase 2 trial of its lead clinical candidate ATH434 by the end of the calendar year. ATH434 is a small molecule drug being developed for Multiple System Atrophy (MSA), a form of atypical parkinsonism where iron plays a key role in pathogenesis by promoting α-synuclein aggregation. The scientific investigation of ATH434, along with the results from the Phase 2 study, will augment the development and optimization of novel compounds expected to emerge from the new patent.

The patent confers on Alterity 20 years of exclusivity, providing a strong basis for drug development and commercialization in major neurodegenerative diseases.

https://finance.yahoo.com/news/alterity-therapeutics-granted-us-patent-115000231.html

Seres Therapeutics, Nestlé Health Science in Co-Commercialization License Pact

 

  • Companies Agree to Jointly Commercialize SER-109 Investigational Microbiome Therapeutic to Treat Recurrent C. difficile Infection, Leading the Way for Entirely New Treatment Modality

  • Deal calls for more than $500 million in upfront and contingent milestone payments

  • Seres Therapeutics to conduct a conference call at 8:30 a.m. ET

Seres Therapeutics, Inc. (Nasdaq: MCRB), a leading microbiome therapeutics company, announced today that it has entered into an agreement with Nestlé Health Science to jointly commercialize SER-109, Seres’ investigational oral microbiome therapeutic for recurrent Clostridioides difficile infection (CDI), in the United States (U.S.) and Canada. If approved, SER-109 would become the first-ever FDA-approved microbiome therapeutic.

Under the terms of the agreement, Nestlé Health Science will utilize its global pharmaceutical business Aimmune Therapeutics and will assume the role of lead commercialization party. Seres will receive license payments of $175 million up front, and an additional $125 million upon FDA approval of SER-109. The agreement also includes sales target milestones which, if achieved, could total up to $225 million. Seres will be responsible for development and pre-commercialization costs in the U.S. Upon commercialization, Seres will be entitled to an amount equal to 50% of the commercial profits.

The agreement to co-commercialize SER-109 in the U.S. and Canada represents the expansion of an existing strategic collaboration between the companies. Nestlé Health Science already has commercial rights to Seres’ investigational treatments for CDI and inflammatory bowel disease outside of the U.S. and Canada, and with this expansion, Nestlé Health Science becomes Seres’ global collaborator in SER-109.

https://finance.yahoo.com/news/seres-therapeutics-nestl-health-science-110000614.html