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Thursday, February 2, 2023

UK pharma body urges govt to scrap hike in repayment rate for drugmakers

 UK's pharmaceutical trade body on Thursday called for the government to scrap its plans to raise the repayment rates for drugmakers, to avoid possible setbacks in the sector.

Drugmakers that are part of UK's voluntary scheme agreement, which makes branded medicines affordable for people, are required to pay a part of their drug revenue to the government. The Department of Health and Social Care plans to raise the revenue clawback rate to 27.5% from 24.5%.

The country's ongoing attempt to raise rates is likely to send the "worst possible signal" to global investors and boardrooms, said the Association of the British Pharmaceutical Industry (ABPI).

"Hiking these clawbacks to such uncompetitive levels risks undermining the UK's offer to global life sciences companies," Richard Torbett, chief executive of the ABPI, said in a statement.

Pharmaceuticals giants AbbVie and Eli Lilly withdrew from the UK's voluntary drug pricing agreement in January after the repayment rates surged to 26.5%.

ABPI has asked for the existing rates to be terminated at the end of 2023, while keeping it unchanged for now to buy time for negotiations.

The industry body said the government policies could further depress investments in UK's life science sector in the long term.

https://www.yahoo.com/news/uk-pharma-body-urges-govt-001303110.html

Tekcapital shares jump after Innovative Eyewear surges on NASDAQ

 Tekcapital shares jumped 22% to the highest level since September last year after shares in their portfolio company Innovative Eyewear surged in the US.

NASDAQ-listed Innovative Eyewear was over 200% higher at the time of writing on Thursday.

Tekcapital hold a 70% stake in Innovative Eyewear and today’s rise represents a gain in the value of TEK’s holding in the region of $14m.

Innovative Eyewear have developed a range of smart eyewear and partnered with major brands including Nautica, and more recently, Eddie Bauer.

“Few names are as renowned as Eddie Bauer in outdoor recreation,” said Harrison Gross, CEO of Innovative Eyewear, at the time the Eddie Bauer partnership was announced in December.

“Our Eddie Bauer smart eyewear collection, powered by Lucyd, will continue Eddie Bauer’s legacy of bold and beautiful craftsmanship, coupled with innovation, and will align perfectly with today’s adventurous lifestyles. We believe outdoor enthusiasts are looking for designer eyewear that both protects their vision and allows them to remain connected to their digital lives in an open-ear, handsfree format.”

Innovative Eyewear technology has the potential to save a great number of lives by reducing the distractions associated with handheld devices.

https://ukinvestormagazine.co.uk/tekcapital-shares-jump-after-innovative-eyewear-surges-on-the-nasdaq/

20 state AGs tell CVS, Walgreens plans to dispense abortion pills ‘both unsafe and illegal’

 Twenty Republican state attorneys general sent a letter to U.S-based pharmacy chains Walgreens and CVS on Wednesday, telling both companies their plans to distribute abortion pills through the mail are “both unsafe and illegal.” 

In the letter, the coalition wrote that federal law prohibits anyone from using the mail to send or receive any drug that will “be used or applied for producing abortion,” referring to the Comstock Act of 1873.

Last month, the Justice Department issued a legal opinion finding that mailing abortion drugs mifepristone and misoprostol does not violate the Comstock Act and said the U.S. Postal Service is legally allowed to deliver prescription abortion drugs even in states that have curtailed access to abortion.

“But the text, not the Biden administration’s view, is what governs. And the Biden administration’s opinion fails to stand up even to the slightest amount of scrutiny,” the attorneys general said in the letter.

“We reject the Biden administration’s bizarre interpretation, and we expect
courts will as well,” they added.

The coalition also wrote that using the mail to send or receive abortion drugs is unlawful in several states, including Missouri.

The letter was composed and signed by 20 Republican attorneys general, led by Andrew Bailey of Missouri and including Ken Paxton of Texas, Steve Marshall of Alabama, Dave Yost of Ohio, Patrick Morrisey of West Virginia and Daniel Cameron of Kentucky.

“We emphasize that it is our responsibility as State Attorneys General to uphold the law and protect the health, safety, and well-being of women and unborn children in our states,” the coalition wrote. “Part of that responsibility includes ensuring that companies like yours are fully informed of the law so that harm does not come to our citizens.”

The letter comes as both Walgreens and CVS plan to seek the certification required to dispense abortion bills in states where doing so is legal. The companies’ plans follow the Food and Drug Administration’s announcement of a policy last month that will allow retail pharmacies to dispense mifepristone from a certified prescriber if they meet certain criteria


To prevent a deadlier pandemic, pause gain of function research

 Last week, conservative activist group Project Veritas released a video featuring a man alleged to be Pfizer’s head of research and development. The video showed the man saying that he and others at Pfizer discussed deliberately mutating the SARS-COV-2 virus to develop tailored vaccines to treat them. Whether this “investigation” is true or not (Project Veritas has been found guilty of using deceptive practices in the past), the social media firestorm that resulted led Pfizer to put out a disclaimer that is somewhat disturbing on its own. 

We don’t think anyone should be manipulating or engineering this or any other virus. Instead, we think drug companies and others should work with what comes from nature. There are plenty of SARS-COV-2 subvariants around. And both Pfizer and Moderna have said they can produce new vaccines to cover emerging variants. And yet, Pfizer now admits to conducting “research where the original SARS-COV-2 virus has been used to express the spike protein from new variants of concern.” 

Why is this necessary, and if more than one spike protein is used at once, couldn’t that accidentally create a virus worse than the one we are already dealing with? Why is Pfizer in the process of studying potential resistance to its drug, Paxlovid, using similar experiments? It said for the Paxlovid study, “in a limited number of cases when a full virus does not contain any known gain of function mutations, such virus may be engineered to enable the assessment of antiviral activity in cells.” 

We think Pfizer and others should stick to incubating SARS-COV-2 with Paxlovid in their biosafety level 3 lab without inducing mutations. To us, that may be a form of gain of function. The risk of a lab leak is far too high no matter what precautions are taken.

Manipulating viruses to gauge their potential to infect or kill us is not a new problem but it remains highly problematic. In the past, Dr. Anthony Fauci, former head of the National Institute of Allergies and Infectious Diseases, has justified gain of function research on so-called Enhanced Potential Pandemic Pathogens (EPPP) to assess just what steps it would take for an animal virus to impact humans.

We disagree with this approach for four reasons. First, there are suspicions that gain of function of some kind may have been the direct cause of the very pandemic we are still trying to cope with and exit now. The furin cleavage site, which enables the SARS-COV-2 virus to attach easily to cells, is not typically found on a virus of this kind in nature. Second, we have learned so much in the field of virology by studying actual viruses (including SARS-COV-2) that the need to provoke viruses to gauge their potential is markedly reduced. Third, vaccine and therapeutic development can occur in real time based on the latest technology. 

Fourth, and perhaps most importantly, there is an international consortium of scientists based in the U.S., China and elsewhere which has supposedly pursued highly supervised and controlled research on EPPP — but the fact is that the National Institutes of Health and the U.S. government have limited ability to oversee research here, and zero ability to oversee it in other countries, especially in China.

We also believe NIH’s highly restricted definition of what they consider to be gain of function research is contrived to allow expanded true gain of function research to go unchecked. We applaud the recommendation by the National Science Advisory Board for Biosecurity this month to expand the definition of risky research to include more potential pathogens, including some plants and animal vectors that are not enhanced or have yet to infect humans easily. We agree with their conclusion that the current definitions of gain of function research are too narrow with an “overemphasis on pathogens that are both “likely” transmissible and likely “highly” virulent. 

But we are still concerned about the focus on “supervision” as a sufficient control justification for this research. We remain unconvinced that any supervision is foolproof, even under the strictest conditions of level 4 biosafety labs such as those found at the Centers for Disease Control and Prevention and the U.S. Army Medical Research Institute of Infectious Diseases, and certainly not anywhere else.

Species barriers are put there by nature for a reason. Science should always be guided and restricted by strict moral and ethical principles. We are calling for a moratorium on all gain of function research, where it is forbidden to deliberately alter a pathogen to provoke or assess its ability to spread among or sicken humans. This applies to research going on at pharmaceutical companies, in universities and anywhere else. 

If gain of function didn’t cause this ferocious pandemic, it most certainly can cause the next one.

Marc Siegel MD is a professor of medicine and medical director of Doctor Radio at NYU Langone Health. He is a Fox News medical correspondent and author of the new book, “COVID; the Politics of Fear and the Power of Science.” 

Robert Redfield, M.D., is an American virologist and a senior science advisor for Novavax. Redfield served as the director of the Centers for Disease Control and Prevention and the administrator of the Agency for Toxic Substances and Disease Registry from 2018 to 2021.

https://thehill.com/opinion/healthcare/3840791-to-prevent-a-deadlier-pandemic-pause-gain-of-function-research/

Roche adds to the lung fibrosis disappointment

 Clinical success in idiopathic pulmonary fibrosis (IPF) has been elusive, and Roche’s zinpentraxin alfa is the latest to fall by the wayside. The company today said it had discontinued the asset in IPF after the pivotal Starscape trial was stopped for futility, incurring a $400m write-off against the asset's acquired value. The next big hope in the disease is Fibrogen’s pamrevlumab, with the first late-stage data due this year. Since the last time Evaluate Vantage carried out this analysis, Boehringer has taken BI 1015550 into phase 3 following promising mid-stage data, while Pliant posted a phase 2a win; both projects have been linked with improvements in forced vital capacity, a measure of lung function. Roche did not show an increase in FVC in its phase 2 trial of zinpentraxin, but merely demonstrated slightly less decline than with placebo. The phase 2 study of pamrevlumab tells a similar story, which might not bode well for Fibrogen. Still, plenty of others are vying for this space, with a crowded mid-stage pipeline. Recent entrants include autotaxin inhibitors from Blade and Bridge Biotherapeutics, cudetaxestat and BBT-877 respectively; Boehringer returned rights to the latter amid toxicity concerns, however.

The late-stage IPF pipeline
ProjectCompanyMechanismTrial details
Zinpentraxin alfa (RG6354/ PRM-151)Roche (ex Promedior)Recombinant human serum amyloid PStarscape stopped for futility Q4 2022
PamrevlumabFibrogenAnti-CTGF antibodyZephyrus-1 data due mid-2023; Zephyrus-2 data due mid-2024
BI 1015550Boehringer IngelheimPhosphodiesterase 4 inhibitorNCT05321069 ends Nov 2024
Tyvaso United TherapeuticsProstacyclin mimeticTeton & Teton 2 end Jun 2025
Source: Evaluate Pharma & clinicaltrials.gov.

https://www.evaluate.com/vantage/articles/news/snippets/roche-adds-lung-fibrosis-disappointment

Kras opinions diverge

 A day after Novartis suggested that Kras inhibition only made sense in combinations, and two days after sales of the first marketed Kras inhibitor, Amgen’s Lumakras, flatlined, Roche confirmed the progression of its Kras contender into phase 3. Roche’s GDC-6036 has been added to the B-Fast study, in a new cohort comparing monotherapy against docetaxel in second-line, Kras G12C-mutant disease, the approved setting for Lumakras and Mirati’s Krazati. But Novartis seems to have put the brakes on JDQ443 – even though this, too, is already in a pivotal monotherapy NSCLC trial. While stressing that phase 3 was continuing, Novartis said it was “critical” to demonstrate efficacy in a combination. “That would really give us more confidence that [JDQ443] could be a very significant medicine.” For Roche a more immediate catalyst is overall survival data from the Skyscraper-01 trial of the anti-Tigit MAb tiragolumab, but there is no news yet: interim analysis is still scheduled for February, and “the most likely scenario is that the study will continue until final readout in the second half”, Roche said. It promises to communicate any negative result immediately, but “if you don’t hear back in February you know [Skyscraper-01] is continuing to final readout”.

Studies of four Kras inhibitors in unapproved settings
ProjectCompanyTrialSetting
LumakrasAmgenCodebreak-101Includes Keytruda combo in Kras G12Cm NSCLC (various lines)
KrazatiMiratiKrystal-71L Kras G12Cm NSCLC, Keytruda combo, vs Keytruda + chemo
RG6330/ GDC-6036RocheB-FastIncludes monotherapy in 2L Kras G12C NSCLC, vs docetaxel
JDQ443 NovartisKontrast-02Monotherapy in 2/3L Kras G12C NSCLC, vs docetaxel
Source: clinicaltrials.gov.

https://www.evaluate.com/vantage/articles/news/trial-results-snippets/kras-opinions-diverge

Manchin, Cruz Reveal New Bipartisan Bill Halting Biden Selling Emergency Oil Reserves To China

 The Biden administration's draining of the Strategic Petroleum Reserve to four-decade lows to ease market tightness drew sharp criticism from the fossil fuel industry and Republican lawmakers. What ignited controversy last summer was when one SPR shipment was delivered to an entity tied with the Chinese Communist Party

Now a group of bipartisan lawmakers wants to ensure America's emergency crude oil reserves are never sent to China again. 

On Wednesday, Sen. Joe Manchin, D-W.Va. and Sen. Ted Cruz, R-Texas, and several other lawmakers introduced the Protecting America's Strategic Petroleum Reserve from China Act. 

The bipartisan legislation would prohibit exporting crude oil from the SPR to China. A similar piece of legislation was recently passed in the US House of Representatives by a large majority, 331-97. 

"The Strategic Petroleum Reserve is a vital piece of our nation's infrastructure that bolsters our energy and national security. While the reserve has been a policy Band-Aid for rising gas prices and the global unrest caused by Russia's invasion of Ukraine, the reserve is, above-all, meant to help the United States and our allies through difficult times, not to help China power its economy," Manchin, who serves as the chairman of the Senate Energy and Natural Resources Committee, wrote in a statement. 

He continued: "This bill would ensure that we are not risking our energy security by selling our petroleum reserves to China, and the bipartisan support this legislation has received shows just how important it is for America to be energy secure and independent."

The latest Department of Energy data shows the Biden administration drained the SPR to the lowest levels since 1983, all in an attempt to ease crude market tightness.  

What sparked outrage was when Biden sent 5.9 million barrels to a Chinese firm last July. This is because strategic reserves are to ensure domestic energy security. 

"The Strategic Petroleum Reserve was intended to ensure that America had sufficient oil reserves in the event of an emergency. Under no circumstances should we sell any part of this stockpile to the Chinese Communist Party or any company under its control.

"We need to immediately act to stop this from happening in the future and unleash American energy, and I'm proud to work with my colleagues and Sen. Joe Manchin on this important, bipartisan issue," Cruz said in a statement. 

The SPR is the world's largest supply of emergency crude oil, with four storage sites in Texas and Louisiana designed to alleviate significant oil supply shortages during major geopolitical events or natural disasters. The steep declines by Biden, who blamed Russia's Ukraine war for the "price hike at the pump," has been hellbent on draining the reserves. 

Some good news: Biden Administration plans to replenish the SPR later this year. 

Remember a few years ago when former President Trump received criticism for his plan to fill up the SPR when crude prices crashed? 

Also, we might add that gas and diesel prices at the pump are elevated because the US has a refinery capacity problem

https://www.zerohedge.com/commodities/manchin-cruz-reveal-new-bipartisan-bill-halting-biden-selling-emergency-oil-reserves