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Sunday, December 17, 2023

Ozempic Maker’s Obesity-Fueled Gains Seen Slowing After Banner Year

 

  • Analysts see 9% upside after company became Europe’s biggest
  • Some say valuation is stretched as Novo faces more competition

A frenzy around obesity drugs made Novo Nordisk A/S Europe’s biggest stock-market success story of 2023. Repeating the trick won’t be so easy.

Shares of Novo, which makes the diabetes drug Ozempic and weight loss medicine Wegovy, have risen 42% this year, as investors latched on to the growth potential of a market that some analysts predict could reach $100 billion by 2030. The rally made it Europe’s biggest company and pushed the Danish firm’s value past the size of its domestic economy.

https://www.bloomberg.com/news/articles/2023-12-17/novo-nordisk-novob-faces-a-tougher-year-after-share-price-surge

NYC councilwoman-elect using AI to communicate with public, answer media

 A Brooklyn Democrat who will be sworn into the City Council in January has been quietly using artificial intelligence to communicate with the public – including the media, The Post has learned.

Susan Zhuang, who was elected to represent a newly created Asian-majority district in southern Brooklyn, admitted she uses popular AI tools like ChatGBT after being confronted by The Post about AI-generated answers she submitted for a recent Q and A interview with the media outlet City & State.

When asked, “What makes someone a New Yorker?” Zhaung sent back a 101-word response that began with, “New York City, the concrete jungle where dreams come true. It’s not just a place, it’s a state of mind. Being a New Yorker means having an unstoppable hustle, unbreakable resilience and unrivaled independence. …”

Councilwoman-elect Susan Zhuang speaking at a Brooklyn rally in June in which she called for the city to create more academic-screened school seats.Helayne Seidman
Zhuang admits using an AI tool to submit answers to questions posed by City & State, saying it is partly because “English is not my primary language.”

Believing the response sounded nothing like Zhuang, a top Democratic operative suggested to The Post that it be tested for authenticity. The newspaper ran her answers through Copyleaks.com, whose AI content-detection tool boasts a 99% accuracy rate, and found it was written by artificial intelligence.

Hank Sheinkopf, a longtime New York-based Democratic political consultant, said he’s heard of elected officials using AI for campaigning — but never to respond to general questions from reporters or other members of the public. He fears it “could be the wave of the future.”

“It is very troubling,” he said.  “We’d be better off with robots in public office – at least we would know what we got.”

Zhuang has been using artificial intelligence to answer media questions and communicate with her future constituents.Friends of Susan Zhuang

Ying Tan, a Republican community activist who lost November’s general election to Zhuang, said she’s “not surprised” to learn her rival is using AI. The pol said she noticed that many of Zhuang’s posts on social media read nothing like how she speaks to the public during live events.

“If she can’t answer questions on her own, how can we expect her to represent the district?” said Tan, who is mulling a rematch in the 2025 election. “Is she going to use the Internet and computer programs to write her bills, too?”

During a brief phone call, Zhuang initially blamed her staff for sending the AI-generated answers to City & State.

However, Zhuang, who speaks fluent Mandarin, later texted a reporter a prepared statement saying “as an immigrant and Brooklyn’s first Chinese-American Councilwoman, I, like many of my fellow immigrants, use AI as a tool to help foster deeper understanding as well as for personal growth, particularly when English is not my primary language.”

Councilwoman Julie Menin (D-Manhatan) has authored a resolution calling on the FEC to ban “deceptive artificial intelligence” in political campaigns.Luiz Rampelotto/EuropaNewswire/Shutterstock
The revelation that Zhuang is relying on AI to get her message out to the public comes as Councilwoman Julie Menin (D-Manhattan) is pushing a non-binding resolution demanding the Federal Election Commission prohibit political candidates from “using deceptive artificial intelligence” in campaigns. 

Political ads using AI tools like ChatGPT and DALL-E have already been deployed on campaign trails — producing fake images of Donald Trump resisting arrest and of his wife Melania yelling at police.

Trump has also been depicted hugging Dr. Anthony Fauci during the COVID-19 pandemic in a campaign ad using AI by GOP presidential nominee rival Ron DeSantis in June.

https://nypost.com/2023/12/16/metro/nyc-councilwoman-elect-susan-zhuang-admits-to-quietly-using-ai-to-communicate-with-the-public-answer-media-questions/

Saturday, December 16, 2023

Philippines' Marcos says tensions in South China Sea have increased

 Philippine President Ferdinand Marcos Jr said his country is working to resolve "exploration issues" in the South China Sea so it could start new energy exploration projects in the resource-rich waterway to meet his nation's energy needs.

Marcos, in an interview with Japanese media on Saturday, said tensions in the South China Sea have "increased rather than diminished" in recent months, warning that a "more assertive China" posed a "real challenge" to its Asian neighbours.

The Philippines and China have resumed discussions about jointly exploring oil and gas resources in the South China Sea, where the two nations have sparred for decades over sovereign rights to develop natural resources in the strategic waterway.

But "very little progress" has been made with regard to the talks, Marcos said, according to a press release from his office as he attends a Tokyo summit of Japan and the Association of Southeast Asian Nations (ASEAN).

"We are still at a deadlock right now," Marcos said as he emphasised his country's right to exploit energy reserves in the West Philippines Sea at a time the Philippines wants to reduce its reliance on fossil fuel and coal and transition to liquified natural gas.

Manila refers to the portion of the South China Sea that is within its Exclusive Economic Zone (EEZ) as the West Philippine Sea.

Efforts to find a legally viable way to cooperate on energy exploration have stalled repeatedly, with previous administration abandoning talks in June last year citing constitutional constraints and issues of sovereignty.

A week ago, Manila and Beijing traded accusations over a collision of their vessels near a disputed shoal in the South China Sea as tensions over claims in the vital waterway escalate.

In addition to the Philippines, ASEAN members Vietnam, Indonesia, Malaysia and Brunei claim parts of the South China Sea disputed by China, which claims almost all of the sea, a conduit for more than $3 trillion of annual ship-borne commerce.

The Permanent Court of Arbitration in 2016 said China's claims had no legal basis, a ruling the United States supports but Beijing rejects.

"I'm afraid we'll have to be able to say that tensions have increased rather than diminished for the past months or the past years," Marcos said as he underlined the need to resolve issues peacefully.

The challenge that China posed required "new solutions", said Marcos, who has vowed to defend his country's rights in the South China Sea after the collision, which Manila has described as a "serious escalation".

https://news.yahoo.com/philippines-marcos-says-tensions-south-030512448.html

US nuclear-powered submarine arrives at S.Korea's Busan port -Yonhap

 A U.S. nuclear-powered submarine arrived in the South Korean port city of Busan on Sunday, the Yonhap news agency reported citing the South Korean navy.

The arrival of the USS Missouri, also known as SSN-780, comes after South Korea and the U.S. held their second Nuclear Consultative Group meeting in Washington on Friday.

"Any nuclear attack by North Korea against the United States or its allies is unacceptable and will result in the end of the Kim regime," a joint U.S.-South Korean statement from the meeting said.

A senior South Korean official said earlier this week that North Korea may test-launch an intercontinental ballistic missile this month.

Visits by U.S. nuclear submarines had previously been rare, but they have increased under agreements between Seoul and Washington that increased the arrivals of U.S. military assets to help deter North Korea.

Another U.S. nuclear-powered submarine, the USS Santa Fe, called at a port on the South Korean island of Jeju in November.

The USS Carl Vinson, a U.S. aircraft carrier, also arrived at a Busan port last month in the effort to increase deterrence against North Korea's nuclear and missile programs.

https://news.yahoo.com/us-nuclear-powered-submarine-arrives-030939104.html

Most Medicare enrollees do not access opioid treatments: HHS

 Medicare beneficiaries are not getting adequate support and treatment for opioid use disorder, the Department of Health & Human Services (HHS) declared in an annual report on Thursday.

In the report (PDF), the Office of Inspector General’s office said most of the deaths are due to fentanyl.

“Fewer than one in five Medicare enrollees with opioid use disorder received medication to treat their disorder,” the report reads.

In 2022, 1.1 million people enrolled in Medicare were diagnosed with the disorder. The proportion of the Medicare population that has received treatment is similar to 2021, with HHS speculating stigma and difficulties accessing providers that prescribe treatment as two possible reasons for complications.

Of the 18%, or 210,771 enrollees, who did receive treatment, they received either buprenorphine, methadone or naltrexone.

Some states, like Florida, Texas, Kansas and Nevada, had fewer than 10% of enrollees receive medication, lower than the national rate. In Florida, 160,586 Medicare enrollees have opioid use disorder.

Legislation to reauthorize the SUPPORT Act, an investment in community-based treatment and recovery programs, appears to be picking up steam. Earlier this week, the House voted overwhelmingly to reauthorize SUPPORT Act programs and permanently extend Medicaid coverage. The Senate also advanced its own reauthorization bill. Both the Senate’s and House’s versions of the bills were supported by the American Hospital Association.

The report found that only 9% of enrollees without the Part D low-income subsidy received medication, versus 26% of enrollees with the low-income subsidy. Data also showed that enrollees under the age of 65 were more likely to receive medication than older eligible members.

While 19% of white enrollees received medication, that number shrinks for other populations. Just 11% of Asian/Pacific Islander individuals received treatment and 15% of Black and Hispanic enrollees received treatment.

However, naloxone prescriptions grew to more than 600,000 enrollees, a figure that has mostly risen in recent years. In 2021, only 445,562 enrollees received naloxone, mainly through the brand-name drug Narcan.

Narcan is now an over-the-counter drug that is no longer covered by Medicare Part D. The report expects that out-of-pocket costs for enrollees will increase for members that want Narcan or a generic equivalent. A generic naloxone nasal spray will soon not be covered by Part D. Injectable naloxone will remain covered through Part D.

“Enrollees with the low-income subsidy paid an average of about $2 in cost-sharing for Narcan and its generic equivalents in 2022, while other enrollees paid an average of $29,” the report explained. “In contrast, Narcan’s manufacturer stated that its suggested price for over-the-counter Narcan is $44.99.”

Some Medicare Advantage plans may cover naloxone, and some states cover the drug if an individual is dually enrolled in Medicare and Medicaid.

The OIG recommends that the Centers for Medicare & Medicaid Services (CMS) inform providers about using buprenorphine and OTC naloxone through state Medicaid programs.

In 2022, more than 83,000 deaths in the U.S. were because of opioid-related overdose, according to the CDC. About 52,000 of those individuals were enrolled in Medicare, though that number could be higher.

https://www.fiercehealthcare.com/payers/medicare-enrollees-struggle-access-opioid-treatments-hhs

Optum Rx rolls out new weight management program

 Optum Rx is launching a new weight management program aimed at improving outcomes and addressing affordability.

The cost of GLP-1 drugs amid continued high demand is a key focus for pharmacy benefit managers and plan sponsors, especially as individual therapies can top $10,000 per year. Through the Optum Rx Weight Engage program, the PBM is aiming to support employers and other clients in designing benefits for their membership.

The team will review the client's goals to build a tailored program that will deploy clinical solutions as well as patient monitoring and motivation and support tools, the company said. Members can connect to an obesity management specialist who will direct them to the appropriate clinical services.

The program also enrolls members in a wellness support component in which a health coach assists with reaching weight loss goals. It will be available beginning on Jan. 1.

Plan sponsors can mix and match elements of the program as needed, including a switch to digital platforms or live coaching.

“Optum Rx Weight Engage offers clinically appropriate programs that support wellness and better health for consumers and solutions to help clients manage drug spending,” said Patrick Conway, M.D., CEO of Optum Rx, in the release. “We will continue our work to lower drug costs while also helping our clients manage an important population need and consumer demand with comprehensive solutions.”

The PBM said that the program is designed to make it easier for members to navigate their benefits and access the services they need.

Optum said it is "uniquely positioned" to address this issue as it can include healthcare services, data analytics and pharmacy management all within the enterprise.

https://www.fiercehealthcare.com/payers/optum-rx-rolls-out-new-weight-management-program

Most healthcare provider leaders are eying the door—and many have already heard offers

Healthcare leadership may be more optimistic going into 2024 than the year prior, but more than three in five say they're hoping for greener pastures within the next 12 months, according to a new survey.

The poll of 666 executives, directors and managers from provider organizations from staffing firm AMN Healthcare found that 66% of respondents intend to seek out a new position. Twelve percent plan to do so immediately, 62% within the next year and 38% within the next three to five years, according to the survey.

The responses also suggest there’s no shortage of open doors for job seekers. Nearly four in five survey participants said they had been approached about a new job opportunity within the past half month, with 17% of the full sample indicating that they had pursued the offer.

“Virtually everyone in healthcare, from clinicians to healthcare executives, has been under immense pressure due to the pandemic and other factors,” Christine Mackey-Ross, president of AMN Healthcare Leadership Solutions, said in a release. “The result is a high level of turnover that jeopardizes both administrative and clinical continuity at many healthcare organizations.”

As far as retention, the leaders most often pointed to their organization’s culture (45%) and compensation (41%) as the greatest potential factors in any decision to stay put.

On the other side of the conversation, 48% of respondents said that it has been “very or extremely challenging” to find a strong candidate for their open leadership positions. Forty-nine percent said that their efforts to hire new leadership candidates have been taking longer than prior years. In the meantime, 26% said that their facility had turned to an interim leader — of these, 66% said it was to fill a vacancy, 10% to manage an independent project and 21% for a combination of both.

The responses come even as more leaders believe their organization is starting to take a turn for the better after pandemic struggles.

Specifically, 52% said they expect the organizational health of their facility to improve in the coming 12 to 18 months, up from 37% in the prior year’s survey.

“After weathering the storm of COVID-19, which combined the double whammy of revenue losses with cost increases, many healthcare executives are seeing somewhat brighter skies ahead,” Mackey-Ross said.  “Revenues are returning and costs are stabilizing, though the challenges facing healthcare executives today remain serious and unpredictable.”

The leaders also outlined improving, though still low, engagement from their clinicians—33% said their physicians are “highly engaged” versus the previous year’s 29%, while perceived nurse engagement rose from 22% to 33%, according to the survey.

The respondents most often outlined financial pressures (44%) and serious clinician issues (33%) as the healthcare industry’s most likely spoilers in the coming years.

AMN’s survey was conducted from June to July via email. Its final sample was primarily female (59%), white (78%) and Gen X (49%). Directors/managers (50%) and C-suite/trustees (38%) made up most of the respondents, as did those who indicated working in a health system or hospital (73%).

The leadership-specific findings land amid a broader landscape of workforce challenges for the healthcare industry. Another survey from PwC published in the late summer outlined talent acquisition and retention as primary concerns among healthcare executives, while sector outlook reports still point to staffing as a primary factor in a provider entity’s financial health. All the while, more and more organizations unable to balance their operations’ finances are being forced to cut employees (often administrative, IT and even leadership) across a tough 2023.

https://www.fiercehealthcare.com/providers/most-healthcare-provider-leaders-are-eying-door-and-many-have-already-heard-offers-survey