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Wednesday, November 8, 2023

Avadel Pharmaceuticals Sees Robust Uptake For Its Newly Approved Sleep Disorder Drug

 Avadel Pharmaceuticals plc AVDL recognized $7.0 million in net product revenue for Q3. Net product revenue consists of Lumryz product sales, launched in the U.S. in June. Analysts estimated revenues of $5.09 million.

In May, the FDA granted final approval to Lumryz, an extended-release formulation of sodium oxybate indicated to be taken once at bedtime for cataplexy or excessive daytime sleepiness (EDS) in adults with narcolepsy.

Narcolepsy is a chronic neurological disorder that affects the brain's ability to control the sleep-wake cycle.

With final approval, Lumryz becomes the first and only FDA-approved once-at-bedtime oxybate for narcolepsy. 

Avadel Pharmaceuticals reported a Q3 EPS loss of $(0.41) versus $(0.33) a year ago.

The company reported that over 1,000 patients enrolled in Avadel's RYZUP patient support services:

More than 400 patients initiated therapy with LUMRYZ during Q3.

Approximately 600 patients remained in the RYZUP process, going through the benefits investigation or pending their first shipment.

RYZUP enrollments and patients currently being treated with Lumryz include the majority switch patients from first-generation oxybates, followed by patients who previously tried and discontinued a first-generation oxybate, and patients who are new to oxybates.

Avadel also said that Lumryz to be added to the preferred position for CVS commercial formularies effective January 1, 2024

The company also submitted a supplemental U.S. marketing application for Lumryz in the pediatric narcolepsy population.

https://www.benzinga.com/general/biotech/23/11/35676523/avadel-pharmaceuticals-sees-robust-uptake-for-its-newly-approved-sleep-disorder-drug

Why Is Generic Drug Player ANI Pharmaceuticals Stock Trading Lower

 ANI Pharmaceuticals Inc's ANIP third-quarter revenues were $131.8 million, up 57.3% Y/Y, beating the consensus of $111.92 million.

Net revenues for generic pharmaceutical products were $63.7 million, up 29.7%, driven by increased volume from the annualization of 2022 launches and a favorable product mix.

Generics, Established Brands and Other reported net sales of $102.1 million, representing year-over-year growth of 43.4%.

Revenues for the lead asset, Cortrophin Gel, reached $29.7 million, up 135.9%, driven by increased volume in this second year of launch. 

Adjusted EPS of $1.27, up from $0.58 a year ago, beat the consensus of $0.84.

The company reported third-quarter adjusted EBITDA of $36.5 million, representing year-over-year growth of 98.3%.

Guidance: For FY23, ANI Pharmaceuticals sees FY23 revenue of $468 million-$478 million versus prior guidance of $425 million-$445 million and the consensus of $452.94 million.

The company forecasts FY23 Adjusted EPS of $4.29-$4.57 versus prior guidance of $3.62-$4.11 and the consensus of $4.08.

The company raised Cortrophin-specific revenue guidance to $100 million-$107 million from $90 million-$100 million.

https://www.benzinga.com/general/biotech/23/11/35679304/why-is-generic-drug-player-ani-pharmaceuticals-stock-trading-lower-today

Biden administration is hiding the real scale of the migrant crisis

 US Customs and Border Protection logged a record 269,735 migrants encountered in September.

That figure came on the heels of a record-breaking fiscal year, in which CBP reported nearly 2.5 million migrant encounters. 

The numbers could have been much higher if not for the introduction of an app, CBP One, allowing unauthorized migrants to schedule their arrivals before claiming asylum, and new parole programs.

(Parole, in the immigration context, refers to an exception in the law that lets some noncitizens who would otherwise be ineligible for such protections work and live in the United States without fear of deportation.) 

Today, thanks to Freedom of Information Act requests filed by the Center for Immigration Studies (CIS) and inquiries initiated by the House’s Homeland Security Committee, we know that these programs started earlier than the Biden administration admitted and that they involve many more migrants and countries, including terrorism hotbeds, than it has revealed.

Existed pre-rollout

On Jan. 5, the administration released a fact sheet detailing its efforts to manage the historic flow of asylum seekers with a new parole program. It advertised the program as being for citizens of four countries — Venezuela, Nicaragua, Cuba and Haiti.

President Biden spoke about it that day in the context of a surge of Venezuelan migrants. 

Then, in May, at a White House press briefing, Homeland Security secretary Alejandro Mayorkas claimed that CBP admitted about 740 people per day through the plan, mostly Haitians.

He claimed that the number would soon rise to 1,000 per day; two months later, DHS announced that it would rise to 1,450 per day.

Here’s what we now know. The program wasn’t new when it was announced — the documents CIS obtained show that it existed 19 months before January’s public rollout. 

The administration paroled more than 10,000 migrants from 29 countries in 2021, most from Mexico, Honduras and Guatemala.

It paroled over 13,011 migrants from 35 countries in 2022, including, curiously, more than 5,000 Russians.

Then, in the first eight months of this year, the number of parolees skyrocketed to nearly 250,000, only 136,000 of whom came from the four countries advertised as the program’s beneficiaries. 

The rest came from 93 other countries, including more than 7,300 from “countries of national security concern,” including Afghanistan, Iran, Yemen, Lebanon, Jordan, Egypt, Mauritania, Uzbekistan, Turkmenistan, China and elsewhere. 

Were these migrants subjected to additional screening? We have no idea.

Humanitarian cover

According to the House Homeland Security Committee, CBP approved 93% of Mexican parole applicants, even though, according to the Department of Justice, it approved only 4% of Mexican asylum applicants in the first half of FY 2023. 

The fact sheet describing the program made it sound like its purpose was to allow migrants to enter and make “protection claims” — i.e., an asylum application. If so, why are 93% of Mexican nationals and at least 96% of other foreign nationals simply being waved in without regard to the potential legitimacy of their claims?

The CIS FOIA dump also revealed that aside from the quarter-million migrants paroled this year at the US southern border, CBP has paroled another 221,456 citizens of Venezuela, Haiti, Cuba and Nicaragua, who were allowed to fly directly into their preferred port of entry. 

Before the Biden era, humanitarian parole was granted to migrants only on a case-by-case basis and typically only for special cases, often for people who needed lifesaving medical treatment. 

Now, Texas is spearheading a 21-state lawsuit to stop the program.

The courts will decide the program’s legality, but if Democrats want to expand immigration, they should introduce legislation to do so, rather than cooking up dubious schemes like mass parole.

https://nypost.com/2023/11/08/opinion/the-biden-administration-is-hiding-the-real-scale-of-the-migrant-crisis/

Drugs aren’t required to be tested in people who are obese. Here’s why that’s a problem

 More than 40% of American adults are considered obese, yet the medications many take are rarely tested in bigger bodies.

That’s because they are not required to be included in drug studies. And often, they’re explicitly excluded.

“Clinical trials and dosing instructions don’t always ensure that drugs will be safe and effective for people with obesity,” said Christina Chow, a drug researcher who’s reported on the challenges of considering obesity in drug development. “There’s no real emphasis for them to be studied at all.”

Many widely prescribed drugs and over-the-counter medications work differently in people who are obese, but exactly how and at what dose often isn’t clear. Research suggests that may include antibiotics and antifungal drugs used to treat serious infections, synthetic hormones used in Plan B emergency contraception and even ibuprofen, the common painkiller sold as Advil.

The U.S. Food and Drug Administration and the National Institutes of Health — agencies that regulate and fund drug testing — are putting new focus on the gaps in research. At a workshop last year, FDA Commissioner Dr. Robert Califf acknowledged a “deficit of evidence” about how medicines act in patients who are obese. The NIH now encourages researchers to consider the impact of excluding obese people in their studies, a spokesperson said.

At a recent medical conference, Chow presented a review of more than 200 studies for new drugs in the U.S. last year. Of those, nearly two-thirds failed to mention weight or body mass index — a common assessment of obesity — meaning they wouldn’t ensure inclusion of people with obesity, she said.

The studies that did cite weight were most often used to exclude people with obesity from participating, said Chow, who works for Emerald Lake Safety, a California company that investigates severe drug reactions. People with a body mass index or BMI of 30 or higher are considered obese.

Historically, certain populations have been left out of testing for fear of harm, including pregnant people and children. Women, racial and ethnic minorities and the elderly, too, have been underrepresented before recent efforts to bolster diversity.

The reasons for excluding people with obesity are longstanding and varied, said Dr. Caroline Apovian, a researcher at Brigham and Women’s Hospital in Boston and co-author of Chow’s study.

Participants willing to sign up for studies are often leaner and don’t reflect the general population, she noted. And researchers often worry that health complications that can come with obesity will cloud the results of their work.

“Sometimes patients with obesity have many more comorbidities than others. They’ll have more diabetes, more heart disease, more strokes,” she said.

But if drugs aren’t studied in a condition that affects 42% of the U.S. population, the real-world consequences can be dire, experts said.

Some drugs can become concentrated in fat tissues and not in the bloodstream. That means there will be less medication in the blood, leading to undertreatment, Apovian said.

Other drugs remain in the body longer in the obese. That could result in harmful drug interactions if another medication is added too soon.

An antipsychotic drug called Rexulti is often prescribed for people suffering from schizophrenia or major depressive disorder, Chow noted. Research has shown that in obese patients it may take much longer to reach the concentration of Rexulti needed to be effective. As a result, many patients — and their doctors — may stop treatment too early or conclude that the drug doesn’t work.

“Not treating or undertreating schizophrenia may be dangerous to themselves and the people around them,” Chow said.

The emergency contraception drug Plan B One-Step is another example. Studies suggest that levonorgestrel, the active drug, may not work as well in people with obesity, possibly leading to drug failure and pregnancy, said Dr. Alison Edelman, an OB-GYN and researcher at Oregon Health & Science University, who studies contraception and obesity. But the FDA says the data are limited and conflicting, so there’s not enough evidence to require a label warning.

Even a drug as common as ibuprofen, sold as Advil, may not relieve pain in people at higher weights when taken as directed, research shows.

But without adequate testing and clear instructions, doctors won’t know how to adjust dosing for obesity, said Dr. Colleen Tenan, a board member of the Association of Clinical Research Professionals.

“It’s very hard to be a physician and say that I’m going to prescribe out of the normal range,” she said.

Change is coming, but progress is slow, Edelman said. In 2019, the FDA issued draft guidance on hormonal contraception that asks study sponsors to lift restrictions on body mass index and include obese women. Even though the guidance isn’t final, it already has changed how she and some others researchers structure their studies, she said.

“It’s just something that we have to chip away at because it’s so important,” she said. “Because unless we see representation in our study population, we don’t end up with treatments that work well for individuals.”

In the meantime, Apovian said patients can ask their doctors about whether the standard dose of a medication is appropriate for their weight. The doctors may not know, but it could start an important conversation about effective treatment.

“This is a big issue,” she said. “It can be important for patients to speak up.”

https://apnews.com/article/obesity-drug-testing-6793b43f230df482bed917f9e73f84ac

'Amazon offering Prime members low-cost primary health care access'

 As part of its latest push to offer health care, Amazon announced Wednesday it would offer low-cost health benefits for Prime members.

The new partnership between the tech company and One Medical, the health care business Amazon purchased last year, will offer Prime members “with a care team that’s on call and ready for members.”

A One Medical membership covers unlimited access to all-day, on-demand virtual care, including video chats and in-app treatment for “fast care for common concerns.”

Included in the annual fee are in-person visits at One Medical clinics across the U.S., but they require additional payments that are paid out-of-pocket or through insurance plans.

The plan is available for Prime members for $9 per month or $99 annually on top of their existing Prime membership. Members can add up to five additional memberships, each for $6 per month. When the companies announced the merger, they initially said memberships would be available for $144, but they lowered the cost to bring in new customers.

“When it is easier for people to get the care they need, they engage more in their health and realize better health outcomes,” Neil Lindsay, senior vice president of Amazon’s Health Services, said in a statement. “That’s why we are bringing One Medical’s exceptional experience to Prime Members — it’s health care that makes it dramatically easier to get and stay healthy.”

The move is the latest push from the e-commerce company to enhance its health care business, after it has had several unsuccessful attempts to enter the market.

Amazon announced it would expand its business operations into in-person medical care in 2021, with plans to establish doctors’ offices in more than 20 cities. The company ultimately announced it would shut down its in-home health service Amazon Care by the end of 2022 after it was unable to connect with larger companies and more customers.

Amazon Clinic delayed its launch over the summer after Sens. Elizabeth Warren (D-Mass.) and Peter Welch (D-Vt.) wrote a letter to Amazon executives expressing concerns that the service is putting users’ private health data at risk. The senators cited an investigation by the Washington Post that showed how Amazon Clinic users must sign away rights to large amounts of their private health data to use the service.

Amazon Clinic has been testing delivering prescription medicine via drone in two cities. Amazon’s telehealth services have been aimed at virtual care to provide treatment to conditions or receive treatment for relatively minor health issues.

Telehealth’s popularity exploded during the COVID-19 pandemic and has continued to be a favored method of receiving care since the pandemic.

https://thehill.com/policy/healthcare/4299844-amazon-offering-prime-members-low-cost-primary-health-care-access/

Gilead Q3 Revenue Stagnates, Drops Late-Stage COVID-19 and AML Trials

 In the third quarter, Gilead‘s growth in its HIV and oncology businesses was nearly completely offset by declining sales from its COVID-19 drug Veklury (remdesivir) and hepatitis C virus portfolio.

Gilead reported $7.1 billion in third-quarter revenue, which was flat compared to the same period last year, according to the company’s announcement late Tuesday. Its total product sales for the most recent quarter amounted to $7 billion, which also represented no notable growth or decline from the same period in 2022. Excluding the company’s COVID-19 therapy Veklury, total product sales grew by 5%.

Gilead’s HIV franchise brought in $4.7 billion in the third quarter, which was a 4% increase from the same period last year. This was primarily driven by Biktarvy (bictegravir/emtricitabine/tenofovir alafenamide), with revenue growing 12% year-over-year to a little more than $3 billion, while Descovy (emtricitabine/tenofovir alafenamide) grew 2%.

Cell therapies likewise contributed to Gilead’s bottom line, with its $486 million revenue representing a 22% growth from the third quarter of 2022. Sales of Yescarta (axicabtagene ciloleucel), indicated for large B-cell lymphoma, grew 23% to $391 million, while the acute lymphoblastic leukemia therapy Tecartus (brexucabtagene autoleuce) captured $96 million, an 18% increase from last year.

Trodelvy (sacituzumab govitecan-hziy), another Gilead cancer asset, also performed well in the third quarter. The anti-Trop-2 antibody secured $283 million, or 58% growth.

However, completely off-setting the growth of Gilead’s HIV, cancer and cell therapy businesses was the sharp decline in its COVID-19 therapy Veklury. In the most recent quarter, Veklury brought in $636 million, which represents a 31% drop from the same period the prior year. According to Gilead, this was driven primarily by “lower rates of COVID-19 related hospitalizations.”

The company’s liver disease portfolio likewise sustained a 10% decline, capturing only $706 million in the third quarter.

In its third-quarter report, Gilead also announced that it was discontinuing the Phase III BIRCH trial of obeldesivir in non-hospitalized patients who are at high risk of severe COVID-19. Obeldesivir is still being studied in the Phase III OAKTREE trial in non-hospitalized patients who have no risk factors for severe COVID-19.

The decision to drop BIRCH was due to “lower-than-expected COVID-19 incidence rates and related hospitalizations or all-cause death,” according to the company’s press announcement, and was not driven by safety or efficacy issues.

Gilead is also discontinuing the Phase III ENHANCE-2 study, looking at magrolimab as a first-line option for acute myeloid leukemia patients harboring TP53 mutations.

Nonetheless, taking overall portfolio performance into consideration, Gilead refined its full-year guidance and raised the company’s total product sales outlook to $26.7 billion to $26.9 billion, up from a previous estimate of $26.3 billion to $26.7 billion.

https://www.biospace.com/article/gilead-q3-revenue-stagnates-drops-late-stage-covid-19-and-aml-trials/

Glaukos upped to Overweight from Equal Weight by Wells Fargo

 Target to $83 from $75

https://finviz.com/quote.ashx?t=GKOS&ty=c&ta=1&p=d