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Wow, what a weekend. Following the information that President Biden is bowing out of the presidential race and endorsing Vice President Harris, we research her extra left-leaning method to well being care. Additionally, a brand new report from HSBC on well being funding, and extra.
The place does Kamala Harris stand on well being care?
The reply: Left of President Biden.
Biden is endorsing Harris to switch him within the upcoming election — which might have a profound impression on the nation’s method to well being care, ought to she win. Her candidacy shall be selected on the Democratic Nationwide Conference in August.
Harris has beforehand supported Medicare for All and aggressive drug pricing reforms, STAT’s Rachel Cohrs Zhang and Sarah Owermohle write. She has additionally been a powerful advocate for reproductive rights, particularly following the autumn of Roe v. Wade.
Whereas some progressive biotech entrepreneurs and well being care enterprise capitalists have been prepared to endorse Harris yesterday, others withheld their views.
Well being funding for the primary half of 2024
HSBC simply launched a brand new enterprise report for well being care, noting developments for the primary half of 2024. Up to now this yr, there have been “actual glimmers of hope,” with extra {dollars} invested in all well being sectors and lots of new investor-led financings. “Broadly talking,” the report famous, “the exit atmosphere for the trade was tepid, however the biopharma sector noticed IPO curiosity and a pointy improve in excessive deal-value personal M&A.”
The offers have been significantly giant in metabolic and auto-immune indications, however probably the most funding went into platform applied sciences and likewise into the oncology area. Notably, there have been 297 offers valued at $14.8 billion within the first half of this yr, in comparison with the identical interval in 2023, when there have been 299 offers — solely value a cumulative $10.9 billion.
Lilly’s tirzepatide wins approval in China
Eli Lilly’s weight reduction drug tirzepatide — bought below the title Zepbound — simply gained regulatory approval in China, intensifying competitors with Danish rival Novo Nordisk in the important thing Asian market, Reuters writes.
Novo’s competing weight reduction drug, Wegovy, was permitted in China simply final month. Each Lilly and Novo are actually working to extend manufacturing to fulfill the rising demand in a world weight reduction market anticipated to succeed in $100 billion by the tip of the last decade.
Specific Scripts overcharged postal employees by $45 million
A federal audit confirmed that Specific Scripts, one of many largest pharmacy profit managers, overcharged U.S. Postal Service workers by $45 million for pharmaceuticals between 2016 and 2021, primarily by withholding drug rebates meant for the well being plan.
The audit supplies well timed fodder for federal lawmakers, who will grill prime PBM executives this week in entrance of the Home Committee on Oversight and Accountability, STAT’s Bob Herman and Ed Silverman write.
Extra reads
- Google co-founder backs biotech finding out psychedelic African shrub, Monetary Instances
- Siga indicators $113M U.S. provide contract for mpox antiviral Tpoxx, FierceBiotech
- OrbiMed varieties biotech with property from China-based Keymed, enlists former Biohaven exec as CEO, Endpoints