Hey guys, here are biggest weekly healthcare stories. Let me know if you prefer this shorter-form format better!
Biogen's Alzheimer's Drug makes a comeback
- It seemed like Biogen's Alzheimer's drug, - a therapy called aducanumab - was dead after its March clinical trial results came back with gloomy results. All trials were stopped immediately, and Biogen's stock got destroyed that day. For good reason, too - the drug was expected to be a blockbuster.
- Fast forward seven months later. In a reversal for the ages, Biogen announced last Tuesday that after re-analyzing the trial, there was actually data to prove that larger doses of the treatment COULD actually be effective in mitigating Alzheimer's. The stock surged 26% on the news. ***
Google makes a bid for Fitbit, signalling its desire to enter the wearables market
- Reuters reported that Google is making a bid to buy out Fitbit. It looks like the tech giant is trying to get into the wearables space, which has pretty much been dominated by the Apple Watch in recent years.
- Even though wearables and their data haven't really made any push into providing meaningful clinical data for providers, Google's competitive bid for Fitbit just goes to show that they think there's a big potential market here. As data tracking gets better and wearables tech improves, I wouldn't be surprised to see significant progress with wearables and the intersection of wellness and preventive care. ***
Amazon Acquires Health Navigator
- In its first healthcare-related purchase since PillPack a year ago, Amazon acquired a company called Health Navigator this week. The company more or less tells employees where they should go seek care based on the symptoms that they have (i.e., do you have a nail in your foot? You should probably go to the ER!) among having other virtual care functions. ***
UPS Unveils Medical Drone Delivery Platform
- UPS has been pretttttty busy this month. Earlier in October, UPS received approval to operate drones commercially - the first approval ever in the U.S. Now, in this week's futuristic story, UPS announced its plans to deliver supplies and other things via ~DRONE~. Yeah, that means giant 4-rotor mechanisms flying in the sky to your local community hospital. Keep your curtains closed.
- Okay, not quite to that level yet - but UPS does have major partnerships lined up with big-time players, including CVS, Kaiser Permanente, AmerisourceBergen, and others. The drones will carry things like prescriptions, medical supplies and instruments, and pharmaceuticals to hospitals and customers' homes. ***
Healthcare Policy Update.
- Vaping Tax Bill: The House Ways and Means Committee is considering a vaping tax bill this week. The bill would tax vaping products at the same level as tobacco products.
- Flavored Vaping Ban: Not to be outdone, the FDA is actually about to ban flavored e-cigs for good. This ban would exclude mint and menthol flavors (thank goodness) and is coming on the heels of over 1,600 vaping related mysterio-illnesses.
- FTC Scrutinizes Hospital Mergers: This week, the Federal Trade Commission phoned a few hospital friends along with major insurance companies to request data on recent mergers and acquisitions. The agency is really trying to hone in on certain states with certificates of public advantages (COPA) - namely, Tennessee, Virginia, and West Virginia - states with large rural areas. In particular, the FTC wants to research whether COPAs are good for the public or not.
- Healthcare Lobbying Update:
- PhRMA spent $6.2 million as drug pricing legislation bounces around Congress to no avail (currently)
- Amgen: $3 million
- Bayer: $2 million
- AbbVie: $1.8 million
- Pfizer: $1.6 million
- Gilead Sciences: $1.5 million
- Meanwhile, don't forget about the surprise billing lobbying blitz happening at the other end of the healthcare world, totaling $4.1 million in lobbying spending in the third quarter alone.
- Carcinogenic breasts: The FDA might require breast implant manufacturers to post cancer warnings on its labels.
- Rural ACOs get a lift: Senators are considering boosting payments to rural ACOs
- ACA Replacement Republican Healthcare Plan? Here's a quick writeup on what any possible ACA replacement might look like from the Republican party. Main takeaway: give more regulatory power to the states, save pre-existing conditions, and give Medicaid block grants. Read the full report here.
- Big win for payors: The U.S. was just ordered to cough up $1.59B in subsidies to Kaiser, Oscar, and other payors
- AI and Fraud Detection: And finally, the CMS is looking to use artificial intelligence to help with fraud - especially in home health, where fraud can be rampant. ***
Other Interesting/Notable Healthcare Stories:
Biz Hits
- Opioids Update: Last week, we touched on the ~$50 billion opioid settlement. Reuters reported this week that talks have resumed between 4 states and the drug firms. The two sides are targeting a $48 billion settlement, but not all states are fans of the agreement since it might not get split up fairly
- Hospital Profitability: Health system operating margins were up in 2018, but are still below the highs seen in 2015. Read the interesting whitepaper from Navigant here. A notable insight: smaller health systems were more profitable than larger health systems.
- CVS CEO Interview: Healthcare Dive had a nice chat with CVS CEO Larry Merlo, which gave some insights into how the business views Amazon, its integration with Aetna, and more.
- Teladoc Expands Services: Looks like Teladoc is trying to differentiate itself from other telemedicine ventures. This week, Teladoc launched a service called Teladoc Medical Experts. The service is meant to cover a broader range of medical conditions and diagnoses than the typical virtual care operator currently provides.
- Livongo Partners with Telehealth: Speaking of telehealth, Livongo is continuing its partnership spree by teaming up with MDLIVE and Doctor on Demand, giving their members access to behavioral health and then eventually diabetes and hypertension offerings. ***
State Hits
- From Politico - why North Carolina might be the most innovative state on healthcare in America.
- The New York Health Act - which would establish single payer in New York - is drawing crowds. Read more about it here (paywall - WSJ) ***
Other Hits
- Alphabet CFO Ruth Porat opens up about her bouts with cancer and Google’s work in early disease detection
- Read an interesting essay from the WSJ about the link between aging and epigenetics
- Medically necessary, or cruel? A thought-provoking article on the highly contentious issue of surgery on intersex babies.
- An update on Skilled Nursing Facility values - surprisingly, SNF values are holding steady despite the reimbursement troubles facing the post-acute industry
Thanks for reading - you can view past editions here. Let me know if you came across an interesting story that I missed!
Sincerely,
Healthcare is Lit
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