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Wednesday, April 17, 2024

Agitation Relapse Delayed With Dextromethorphan-Bupropion (Axsome)

 Dextromethorphan-bupropion (known as AXS-05) delayed time to relapse in patients with Alzheimer's-related agitation, according to a phase III trial presented here.

Compared with placebo, AXS-05 increased the time to relapse for agitation symptoms (HR 0.275, 95 % CI 0.091-0.836, P=0.014), with a 3.6-fold lower risk of relapse in patients with probable Alzheimer's and clinically significant agitation, according to Anton Porsteinsson, MD, of the University of Rochester School of Medicine and Dentistry in New York, and colleagues.

In addition, a smaller proportion of patients on AXS-05 had relapsed by 26 weeks compared with placebo (7.5% vs 25.9%, P=0.018), Porsteinsson told attendees at the American Academy of Neurologyopens in a new tab or window annual meeting here.

In an initial open-label period, nearly 80% of participants had a clinical response by week 6, defined by a ≥30% reduction in their Cohen-Mansfield Agitation Inventoryopens in a new tab or window (CMAI) score, where lower scores indicate less agitation.

"The positive efficacy and favorable safety results with AXS-05 support its potential to fulfill a high unmet need for the treatment of AD [Alzheimer's disease] agitation," Porsteinsson said during a plenary session.

Alzheimer's disease-related agitation is reported in up to 70% of those with the disease, characterized by emotional distress, disruptive irritability, reduced inhibitions, and aggressive behaviors, according to Porsteinsson's presentation. It can also negatively affect caregivers, accelerate cognitive decline, lead to earlier placement in nursing homes, and is associated with increased mortality.

Nonpharmacological therapies haven't always proven effective for agitation, the researchers noted, and the sometimes-controversial use of psychotropic medications for neuropsychiatric symptoms of dementia has been linked to adverse effectsopens in a new tab or window like death, stroke, and cognitive decline.

The double-blind, randomized withdrawal study included adults ages 65 to 90 with probable Alzheimer's disease according to 2011 National Institute of Aging-Alzheimer's Associationopens in a new tab or window (NIA-AA) criteria, clinically significant agitation according to the International Psychogeriatric Associationopens in a new tab or window (IPA) provisional definition, and a Mini-Mental State Examinationopens in a new tab or window (MMSE) score of 10-24.

Patients were excluded if they had predominantly non-Alzheimer's dementia, agitation symptoms not secondary to the disease, other medical conditions that could interfere with the study, or if AXS-05 was deemed inappropriate by an investigator.

A total of 178 participants were enrolled in the open-label phase, during which they received 45 mg dextromethorphan and 105 mg bupropion twice daily. Sustained clinical response was defined as a ≥30% improvement from baseline in CMAI score and a Patient Global Impression of Changeopens in a new tab or window (PGI-C) score improvement (3 or less, at least "minimally improved"), both maintained for 4 or more consecutive weeks.

After the open-label period of up to 9 weeks, 108 patients began a double-blind second phase randomized to either AXS-05 or placebo. The AXS-05 group received the same doses, and the period continued until agitation relapse. Relapse was defined as a ≥10-point worsening in CMAI score from randomization, or a score greater than at study entry (higher scores mean worsening agitation symptoms); or institutionalization, including hospitalization, due to Alzheimer's.

The treatment was well-tolerated, safety data suggested, with 0% discontinuation due to adverse events with AXS-05 versus 1.9% for the placebo group. Three serious adverse events (fecaloma in the study group, cardiac arrest and femur fracture in the placebo group) were reported; there was one death in the placebo group.

Notably, there was no evidence of cognitive decline, and no association with sedation for patients on AXS-05 -- both of which are concernsopens in a new tab or window with the use of psychotropic medications for symptoms of dementia.

Raya Elfadel Kheirbek, MD, MPH, of the University of Maryland School of Medicine in Baltimore, who was not involved in the current study, said it "makes AXS-05 a preferable option for older adults, aiming to preserve cognitive function."

The delayed relapse time "suggests an advantage over traditional antipsychotics, which may require dose adjustments to maintain efficacy," Kheirbek wrote in an email to MedPage Today.

"AXS-05's dual mechanism as an NMDA [N-methyl D-aspartate] receptor antagonist and sigma-1 receptor agonist offers a unique approach to modulating brain activity," she added, "potentially benefiting patients through multiple pathways, unlike traditional treatments that mainly target dopamine receptors."

The FDA approved AXS-05opens in a new tab or window under the name Auvelity in 2022 for adults with major depressive disorder.

When considering AXS-05 as a treatment alternative in Alzheimer's populations, Kheirbek noted, healthcare professionals "should also note the study's short duration, its focus on initial responders, and the lack of direct comparisons with other antipsychotics."

"These factors should guide clinical decisions regarding the broader application of AXS-05 in diverse Alzheimer's populations," she wrote.

https://www.medpagetoday.com/meetingcoverage/aan/109714

'Why are US pharmacy benefit managers under fire?'

 Pharmacy benefit managers (PBMs) are in the crosshairs of Republicans and Democrats in Congress but have so far dodged any new litigation or reforms that had been targeted for inclusion in last month's U.S. government budget deal.

Many lawmakers, drugmakers and government officials have pointed a finger at these industry middle men, suggesting they play a critical role in high prescription drug costs in the United States. The following is what you need to know about PBMs.

WHAT ARE PHARMACY BENEFIT MANAGERS?

Pharmacy benefit managers are companies that handle prescription drug benefits for health insurance companies, large employers, and Medicare prescription drug plans - a group often referred to as payers.

The PBMs negotiate fees and volume-based discounts, known as rebates, on behalf of payers with drugmakers and pharmacies; create lists known as formularies of medications covered by insurance plans; reimburse pharmacies by processing claims; and manage pharmacy networks. Many also operate their own mail-order pharmacies. They collect fees from payers and rebates from drugmakers.

Studies, including one from the Congressional Budget Office, show that rebates lower drug costs for the government and consumers. Other studies show a correlation between increases in a drug's list price and rising rebates for the drug.

WHO ARE THE BIG PBM PLAYERS?

Three companies controlled 79% of U.S. pharmacy benefit management in 2022, according to the data platform Statista: CVS Caremark with 33%, Express Scripts at 24%, and OptumRx owns 22% of the market.

The other noteworthy companies by market share are Humana Pharmacy Solutions at 8%, Prime Therapeutics at 5%, and MedImpact Healthcare Systems with 4%.

These six companies together control 96% of the PBM market.

WHO OWNS THE PBMs?

The top five pharmacy benefit managers are owned by companies that also offer insurance and other healthcare services.

CVS Health owns Caremark and insurer Aetna as well as specialty mail-order pharmacies, a national pharmacy chain and a physician's group.

UnitedHealth Group owns OptumRx, insurer United Healthcare, specialty pharmacies, physician groups and express medical and surgical centers.

Cigna operates an insurer, Express Scripts and a specialty pharmacy.

Humana is an insurer and owns a benefit manager, while 19 different Blue Cross Blue Shield plans own a stake in Prime Therapeutics.

HOW AND WHY ARE PBMs FACING INTENSE SCRUTINY

The U.S. Federal Trade Commission (FTC) in 2022 began investigating the top PBMs and their impact on pricing and access to prescription drugs.

The FTC is looking into the fees they charge, how they reimburse pharmacies, clawback of payments to pharmacies outside of their networks, and whether the companies steer patients to their own pharmacies. It is also investigating whether benefit managers favor more expensive drugs that yield higher rebates over lower-cost alternatives.

Lawmakers have introduced about two dozen bills since last year targeting PBMs including at least five with bipartisan support, Congressional records show. Several have passed committees but have yet to come to a vote by the broader Senate or House of Representatives.

Separate bills aim to ban what is known as "spread pricing," a practice in which PBMs charge health plans a larger amount for a drug than they pay out to pharmacies. Some are seeking more transparency under which the companies would be required to provide more information on their non-public negotiations.

Rebates have also been a subject of proposed new government rules. The Trump administration sought in 2020 to make rebates illegal for Medicare prescription drug plans by removing the safe harbor protection that shields rebates from federal anti-kickback laws. The Biden administration delayed the rule until 2023 and Congress further delayed it until 2027.

The Department of Justice is investigating UnitedHealth Group, including the relationship between its UnitedHealthcare health insurance business and its OptumRx PBM unit, according to a February Wall Street Journal report.

https://finance.yahoo.com/news/explainer-why-us-pharmacy-benefit-140728111.html

Abbott's device sales drive profit beat, but shares fall as forecast disappoints

 Abbott Laboratories beat Wall Street estimates for quarterly profit on Wednesday on robust sales of its medical devices, but the company's stock fell 3% in morning trading, signaling disappointment over its annual forecast.

Investor expectations around the performance of medical device makers have been heightened since last November after a resurgence in demand, as people, especially older adults, opted for medical procedures deferred during the pandemic.

Abbott forecast a full-year profit of $4.55 to $4.70 per share, raising the lower end from $4.50 per share but maintaining the upper end.

"The ceiling definitely remains the same, and that's the whole point. The stock is going to go up if you beat expectations," said RBC Capital Markets analyst Shagun Singh.

"If you're maintaining expectations, it's already priced into the stock... So that's what's playing right now," she said, adding that she remains positive on Abbott.

Industry bellwether and rival Johnson & Johnson also declined 2.1% on Tuesday, after it missed Wall Street estimates for first-quarter medical device sales, despite expecting medtech-related procedure volumes to remain elevated through the year.

Abbott's quarterly medical device sales of $4.45 billion beat analysts' average estimate of $4.30 billion, according to LSEG data.

Within medtech, all the company's sub-segments came in above Street estimates, said Evercore ISI analyst Vijay Kumar. He added that for the brokerage, the growth in Abbott's electrophysiology devices to treat irregular heartbeat was a standout and should allay any fears of a loss in market share.

FreeStyle Libre, Abbott's biggest product, generated sales of $1.5 billion. The device is used mainly by diabetes patients and the company is targeting annual sales of $10 billion by 2028.

Overall, Abbott recorded $9.96 billion in sales for the first quarter ended March 31, compared to analysts' estimate of $9.88 billion.

On an adjusted basis, the Illinois-based company's quarterly profit of 98 cents per share beat analysts' average estimate of 95 cents per share.

https://finance.yahoo.com/news/abbott-beats-quarterly-profit-estimates-113412308.html

Chinese firms' fundraisings in limbo as IPOs scrutinised at home, abroad

 Chinese companies are staring at the prospects of a drought of new equity capital as tougher domestic IPO rules and challenges in listing overseas severely curb their fundraisings, putting at risk the floundering economy's recovery.

China's securities watchdog has sharply tightened scrutiny of IPOs this year, leading to companies scrapping domestic listing plans in droves, with some turning to offshore markets such as Hong Kong and New York.
 
However, sharper scrutiny of IPO hopefuls in the U.S. amid geopolitical tensions and a weaker Hong Kong market will stymie offshore listings for many, highlighted by Alibaba's move this week to ditch the Hong Kong IPO plan of its logistics unit.
During January-March 2024, money raised via China IPOs plunged 82% from a year ago to just $2.4 billion, the smallest quarterly fundraising since the fourth quarter of 2018, preliminary LSEG data showed.
 
The sudden freeze of an IPO market that was the world's biggest in 2023 and 2022 comes after the securities watchdog, under new chairman Wu Qing, vowed to step up scrutiny of listing candidates and crack down on any lapses.
 
The IPO tightening "would make it increasingly difficult for small companies to raise capital" and for private equity investment to exit, said Andrew Qian, CEO of Shanghai-based investment and advisory firm New Access Capital.
"IPOs in China will become scarce resources," said Qian, who is now helping some companies list on Nasdaq instead.
For venture capitalists, the difficulty to exit will, in turn, lead to difficulty in fundraising, and "it would be increasingly challenging to invest in early-stage, small, hi-tech companies", said Qian.

These are the kinds of companies that are the crucial drivers of economic growth and employment in China.
 
The sharp plunge in IPOs comes against the backdrop of a stock market rout at the beginning of the year after mainland shares lagged global stocks for three years, and deflation at levels unseen since the global financial crisis of 2008-09.

TikTok asked by EU about risks of TikTok Lite to children after France, Spain launch

 ByteDance's TikTok has been given 24 hours to provide a risk assessment on its new app TikTok Lite launched this month in France and Spain because of concerns about its potential impact on children and users' mental health, the European Commission said on Wednesday.

The move by EU industry chief Thierry Breton under EU tech rules known as the Digital Services Act (DSA) comes two months after he opened an investigation into TikTok over possible breaches of the law.

The landmark law requires companies to do more to tackle illegal and harmful content on their platforms, with fines of up to 6% of their global annual turnover for violations.

TikTok should have done a risk assessment on the new app before launching it in the 27-country European Union, the Commission said.

"Is social media "lite" as addictive and toxic as cigarettes "light"? We have just sent a request for information regarding the launch of #TikTokLite. We will spare no effort to protect minors under the #DSA," Breton said on X social platform.

The Commission pointed to the potential impact of the new "Task and Reward Lite" programme on the protection of minors, as well as on the mental health of users, in particular in relation to the potential stimulation of addictive behaviour.

TikTok Lite, aimed at users aged 18+, has a "Reward Program" that allows them to earn points while performing certain tasks on the platform such as watching videos, liking content, following creators or inviting friends to join.

These points can be exchanged for rewards such as Amazon vouchers, gift cards via PayPal, or TikTok’s coins currency that can be spent on tipping creators.

The Commission said TikTok must provide the risk assessment for TikTok Lite in 24 hours and the other requested information by April 26, after which the Commission will analyse TikTok's reply, and then assess next steps.

Avalo Ex-Lilly Drug Could Stand Out In Competitive Hidradenitis Suppurativa Market: OppCo

 Upped to Outperform; target $35.

https://finviz.com/quote.ashx?t=AVTX&p=d

Sanofi's Multiple Sclerosis Antibody Shows Reduction Of Disease Activity

 Sanofi SA 

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 reported Wednesday new data from a Phase 2 study in relapsing multiple sclerosis.

What Happened: The company’s CD40L antibody, frexalimab, demonstrated sustained reduction of disease activity. It also demonstrated favorable tolerability after nearly one year in participants with relapsing multiple sclerosis. 

"These 48-week data showed that treatment with frexalimab resulted in further decreases in the number of lesions and a sustained reduction in disease activity. The preliminary clinical results are promising with a very low annual relapse rate," said Patrick Vermersch.

Results of the phase 2 OLE at week 48 showed:

  • 96% of patients who continued receiving high-dose frexalimab. Eighty-seven percent of those who continued receiving low-dose frexalimab were free of Gd+ T1 lesions at week 48, respectively. 
  • Additionally, among patients who switched from placebo to high and low-dose frexalimab at the start of the open-label extension (OLE) at week 12, declines were seen at Week 24, and 90% and 92% were free of Gd+ T1 lesions at week 48, respectively.
  • The number of Gd+ T1-lesions (mean [SD]) remained low in participants who continued receiving frexalimab (high dose: 0.0 [0.2]; low dose: 0.2 [0.5]) and continued to decline in those who switched from placebo to frexalimab at week 12 (high dose: 0.2 [0.6]; low dose: 0.1 [0.3]).
  • The number and volume change of new or enlarging Gd+ T2-lesions remained low through week 48.
  • Lymphocyte counts remained stable.
  • Participants who continued receiving high-dose frexalimab experienced a low annualized relapse rate (ARR) of 0.04 over the 48-week treatment period. Up to 96% were free of relapses. 
  • ARR in the initial low-dose arm was 0.22, and ARR in patients who switched to high and low-dose frexalimab were 0.09 and 0.40, respectively, through week 48.
  • Frexalimab was generally well-tolerated through week 48.