Pharma and Biotech Daily: Navigating Healthcare's Changing Landscape

Pharma and BioTech Daily

Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma and Biotech world.On September 23, 2024, Lifespan, a healthcare organization, laid off 20% of its executive team as part of a restructuring effort to save $6 million. The FTC sued major pharmacy benefit managers over alleged anticompetitive practices related to insulin prices. Texas Attorney General settled with a generative AI company over accuracy allegations. Steps to minimize the threat of legacy medical devices and the challenges faced by telehealth providers in navigating insurance, compliance, and cash-only models amid state regulations were discussed. The changing landscape of healthcare requires workforce planning strategies to address staffing challenges. Placing AI at the heart of healthcare to improve efficiency and patient care is also highlighted. Additionally, news on cybersecurity risks posed by legacy medical devices, challenges faced by telehealth providers, and industry developments such as new diet plans and games for falls prevention were shared. Healthcare Dive provides in-depth journalism on topics such as health IT, policy & regulation, insurance, digital health, payer-provider partnerships, and value-based care for decision-makers in the healthcare industry.In other news, AstraZeneca and Daiichi's dato-dxd failed to extend lives in breast cancer, adding to previous setbacks in lung cancer. Bristol Myers Squibb is targeting the first new type of schizophrenia drug in three decades. A recent court ruling has revived PhRMA's legal challenge to the Inflation Reduction Act. BMS is laying off employees in New Jersey as part of cost-saving measures. BMS' karxt could soon be the first new schizophrenia drug in decades. Sanofi secured approval for Sarclisa in multiple myeloma and Athira Pharma laid off 70% of its workforce. The BACE credential can help advance a career in biotech. The ongoing battle over drug pricing was also discussed, specifically focusing on insulin and the role of pharmacy benefit managers (PBMs) in inflating costs. The U.S. Federal Trade Commission filed a lawsuit against three major PBMs for allegedly rigging the supply chain to increase insulin prices. Insulin makers like Eli Lilly have set price caps, but the FTC warned all drugmakers about raising list prices for medicines. Big pharma companies are being scrutinized for their efforts in providing access to drugs like insulin in low- and middle-income countries. A report examined the patient reach efforts of 20 major pharma companies in these regions. Overall, the industry is facing pressure to address both pricing and access issues.