Sorry, pharma: White House pulls industry's favored rebate proposal

fiercepharma | July 11, 2019

When the Trump administration rolled out its proposal to dramatically reshape drug rebates last year, the pharma industry cheered. Analysts figured the move would spread to private plans, too. But that rejoicing was premature. In a major setback for drugmakers, the White House is backing off—and payers are likely to cheer instead. Early Thursday, reports surfaced that President Donald Trump was killing the plan. Spokesman Judd Deere told numerous publications that “based on careful analysis and thorough consideration, the president has decided to withdraw the rebate rule.” "The Trump administration is encouraged by continuing bipartisan conversations about legislation to reduce outrageous drug costs imposed on the American people, and President Trump will consider using any and all tools to ensure that prescription drug costs will continue to decline,” he added, as quoted by Politico. Despite enthusiasm from pharma companies, the idea faced intense pusback from pharmacy benefit managers, who said it let drugmakers off the hook on lowering their own prices. Pharma companies argued the plan would help patients by cutting out-of-pocket costs at the pharmacy counter. The Congressional Budget Office’s findings may have been what sank the idea. In May, the agency said revamping rebates would boost federal spending by nearly $180 billion over 10 years and lead to higher premiums for seniors.

Spotlight

The medical science has evolved in its treatment and cures but the aspect of patient care has also come a long way. As medical care industry expands, nursing has become more than just observing and monitoring the patient. Modern medical facilities give major stress on patient’s experience throughout the stay and even continued attention after they are discharged. The growth of patient-centered care has shifted focus to the unique needs of each patient. Advanced nursing education systems, including RN to MSN online programs, have become more dynamic with the constant evolution of standards of care. Healthcare as we know it is changing. We must educate our nurses to be even more dynamic than our healthcare system, adapting to new models and standards of care.

Spotlight

The medical science has evolved in its treatment and cures but the aspect of patient care has also come a long way. As medical care industry expands, nursing has become more than just observing and monitoring the patient. Modern medical facilities give major stress on patient’s experience throughout the stay and even continued attention after they are discharged. The growth of patient-centered care has shifted focus to the unique needs of each patient. Advanced nursing education systems, including RN to MSN online programs, have become more dynamic with the constant evolution of standards of care. Healthcare as we know it is changing. We must educate our nurses to be even more dynamic than our healthcare system, adapting to new models and standards of care.

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CASI Pharmaceuticals, Inc. | September 26, 2022

CASI Pharmaceuticals, Inc. a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products announced that CASI Biopharmaceuticals Co., Ltd, a subsidiary of CASI Pharmaceuticals, Inc. entered into an Equity Transfer Agreement with Shenzhen Jiadao Gongcheng Equity Investment Fund, LLP pursuant to which CASI Wuxi agreed to transfer its equity interest in Juventas Biotechnology Co., Ltd. amounting to 12.0098% total Juventas equity to Jiadao Gongcheng for RMB 240.87 million. The Equity Transfer Agreement states there will be two even payment installments from Jiadao Gongcheng; one payment to be made after the Equity Transfer Agreement is signed and the second payment to be made after the completion of the equity transaction. "We are confident in CNCT-19, and we expect Juventas to submit for NDA to the NMPA in 2022 for the B-ALL indication. CASI and Juventas will continue to maintain a working partnership, focusing on product launch and co-marketing for CNCT-19." Wei-Wu He, Ph.D., CASI's Chairman and Chief Executive Officer Dr. He continued, "The completion of the equity transfer transaction will strengthen CASI's balance sheet by providing CASI with sufficient cash to operate until, at least, the end of 2023. This transaction will allow CASI to advance the development of our other pipeline projects while augmenting the efforts of our sales and marketing team." About CNCT-19 CNCT19 targets CD19, a B-cell surface protein widely expressed during all phases of B-cell development and a validated target for B-cell driven hematological malignancies. CD19- targeted CAR constructs from several different institutions have demonstrated consistently high antitumor efficacy in children and adults with relapsed B-cell acute lymphoblastic leukemia chronic lymphocytic leukemia and B-cell non-Hodgkin lymphoma. CD19 antigen is the most frequently used target in the CAR-T cell therapy clinical trials for hematological malignancies such as leukemia and lymphoma. Juventas is responsible for the development of CNCT19. CASI and Juventas will co-commercialize CNCT19 under the direction of the program's joint steering committee. About CASI Pharmaceuticals CASI Pharmaceuticals, Inc. is a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products in China, the United States, and throughout the world. The Company is focused on acquiring, developing, and commercializing products that augment its hematology oncology therapeutic focus as well as other areas of unmet medical need. The Company intends to execute its plan to become a leader by launching medicines in the Greater China market, leveraging the Company's China-based regulatory and commercial competencies and its global drug development expertise. The Company's operations in China are conducted through its wholly-owned subsidiary, CASI Pharmaceuticals Co., Ltd., located in Beijing, China. The Company has built a commercial team of more than 100 hematology and oncology sales and marketing specialists based in China. About Juventas Juventas is a biopharmaceutical company headquartered in China dedicated to the development and commercialization of cell therapies globally. Utilizing innovative and integrated technology platforms, the company has developed a diverse pipeline of cellular immunotherapies for treatment of hematological malignancies, solid tumors, and other non-oncological conditions both in China and globally. At present, the company is conducting two pivotal clinical trials of CNCT19 for treating adult r/r-B-ALL and r/r-B-NHL in China. CNCT19 has the potential to become the first launched domestically developed CD19 CAR-T therapy in China and the first CAR-T product for the treatment of adult R/R B-ALL in China.

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PHARMA TECH

Pace® Life Sciences Acquires Biopharma Global, Expanding FDA Regulatory Affairs Strategy and Consulting Capabilities

Pace® Life Sciences | September 09, 2022

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PHARMACY MARKET

Nephron and Sharps Announce Manufacturing and Research Partnership

Nephron Pharmaceuticals Corporation | November 15, 2022

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