Caroline's Feed
May 20, 2015

J&J to submit at least 10 new drugs for approval by 2019

By Bill Berkrot and Caroline Humer

(Reuters) – U.S. healthcare conglomerate Johnson & Johnson said on Wednesday it expects to submit more than 10 new medicines with annual revenue potential of at least $1 billion each to regulators by 2019, and is testing dozens of new uses for existing medicines.

J&J said it would file for approval of daratumumab for the blood cancer multiple myeloma in the United States and Europe this year based on mid-stage clinical data.

May 20, 2015

CareFirst says cyberattack stole data of 1.1 mln users in U.S.

By Caroline Humer and Anjali Rao Koppala

(Reuters) – CareFirst BlueCross BlueShield, which sells
health insurance in Maryland, Virginia and the District of
Columbia, said on Wednesday that a cyberattack compromised the
data of 1.1 million current and former members.

CareFirst, which has a total of 3.4 million customers, said
that the breach took place in June 2014 but was only recently
discovered as part of security efforts put in place after other
insurers were hacked.

May 20, 2015

J&J to submit at least 10 medicines for approval by 2019

NEW YORK (Reuters) – U.S. healthcare conglomerate Johnson & Johnson said on Wednesday it expects to submit more than 10 new medicines with annual revenue potential of at least $1 billion each to regulators by 2019, and is testing dozens of new uses for existing medicines.

J&J said it would file for approval of the experimental drug daratumumab for the blood cancer multiple myeloma in the United States and Europe this year based on mid-stage clinical data that will be presented at a major cancer meeting this month.

May 8, 2015

Mylan chairman tells investors he would consider buying Teva

By Olivia Oran and Caroline Humer

(Reuters) – Generics drugmaker Mylan NV, which is in
the middle of a three-way takeover battle, has said it is
unwilling to sell itself to Israeli rival Teva Pharmaceuticals
Industries Ltd, but would consider buying that company
down the road, Mylan Executive Chairman Robert Coury told
investors this week.

The company has been steadfast in its refusal to combine
with Teva and is instead encouraging shareholders to support its
own $34 billion unsolicited offer for over-the-counter drugmaker
Perrigo Co Plc.

May 8, 2015

Exclusive: Mylan chairman tells investors he would consider buying Teva

By Olivia Oran and Caroline Humer

(Reuters) – Generics drugmaker Mylan NV (MYL.O: Quote, Profile, Research, Stock Buzz), which is in the middle of a three-way takeover battle, has said it is unwilling to sell itself to Israeli rival Teva Pharmaceuticals Industries Ltd (TEVA.TA: Quote, Profile, Research, Stock Buzz), but would consider buying that company down the road, Mylan Executive Chairman Robert Coury told investors this week.

The company has been steadfast in its refusal to combine with Teva and is instead encouraging shareholders to support its own $34 billion unsolicited offer for over-the-counter drugmaker Perrigo Co Plc (PRGO.N: Quote, Profile, Research, Stock Buzz).

May 4, 2015

U.S. Medicare test program saved hundreds of million of dollars: study

NEW YORK (Reuters) – A U.S. government test program with doctors and hospitals slowed healthcare spending in Medicare coverage for the elderly and disabled by hundreds of millions of dollars in 2012 and 2013 but savings were less in the second year, a study released Monday said.

The Journal of the American Medical Association study looked at beneficiaries in 32 Pioneer Accountable Care Organizations (ACOs), in which hospitals and doctors follow 33 quality and care standards for Medicare fee-for-service patients. In return they can receive a portion of any healthcare savings back from the government.

Apr 29, 2015

Humana says hospital admissions up as sector shares fall

By Caroline Humer

(Reuters) – U.S. health insurer Humana Inc (HUM.N: Quote, Profile, Research, Stock Buzz) said on Wednesday there was an unexpected pick-up in the rate of hospital admissions late in March and in April, sparking a sell-off in its own and other insurers’ shares.

The comments came during a conference call to discuss the company’s first-quarter profit, which missed Wall Street expectations.

Apr 28, 2015

Aetna submits 2016 Obamacare rates with eye on Supreme Court

NEW YORK (Reuters) – Aetna Inc, the third-largest
U.S. health insurer, is submitting 2016 individual insurance
rates to state regulators but said it might need to reexamine
them after the U.S. Supreme Court rules on the legality of most
Obamacare exchange subsidies.

The nation’s top court is expected to announce a decision in
June on whether federal subsidies can stand in three dozen
states where the U.S. government runs an enrollment website.
Opponents of the law say the Affordable Care Act, or Obamacare,
allows for subsidies only in states that run their own
exchanges.

Apr 27, 2015

Mylan says Teva offer too low; criticizes stock, growth prospects

By Caroline Humer

(Reuters) – Mylan NV (MYL.O: Quote, Profile, Research, Stock Buzz) rejected Teva Pharmaceutical Industries Ltd’s (TEVA.TA: Quote, Profile, Research, Stock Buzz) $40 billion takeover offer on Monday, saying in a scathing letter that it grossly undervalued the company and that Mylan has no interest in payment in what it termed “high-risk” Teva stock.

Teva, the world’s biggest maker of generic drugs, quickly responded to Mylan’s refusal with word that it was “fully committed” and would move forward with the $82 per share cash and stock offer.

Apr 24, 2015

Drug overlaps, shortages may complicate Teva bid for Mylan

NEW YORK (Reuters) – Teva Pharmaceutical Industries’ bid for Mylan NV would create a company controlling nearly 25 percent of the U.S. generics market, including drugs in short supply, according to industry experts and a Reuters review of regulatory filings.

Both issues will factor into any antitrust review, they said.

Teva, the world’s largest generic drugmaker, made its $40 billion offer public on Tuesday and quickly signaled it was ready to sell some overlapping assets to win antitrust approval for a deal.