Here are the latest stories being discussed in biopharma today:
1. Sanders Compels J&J, Merck CEOs Testify on Drug Prices
Sen. Bernie Sanders is prepared to subpoena the CEOs of Johnson & Johnson and Merck in order to press them on drug pricing issues. Although Bristol Myers Squibb’s CEO fulfilled the request to testify, the heads of J&J and Merck have yet to comply. Sanders anticipates getting votes for the subpoenas at an upcoming committee meeting.
2. Illinois Facing Lawsuit Over Drug Price Law
The Association for Accessible Medicines (AAM) has filed a lawsuit against Illinois Attorney General Kwame Raoul challenging the constitutionality of a state law giving sweeping authority over generic drug pricing. AAM claims the law, which sets daily fine limits and cost recovery stipulations for price gouging, only targets generic and off-patent drug companies, leaving brand-name drugs free from oversight.
3. PBMs Increase Lobbying Amid Washington Threats
In the face of political scrutiny over healthcare costs and transparency, Pharmacy Benefit Managers (PBMs) are increasing their lobbying efforts. The industry’s trade group, the Pharmaceutical Care Management Association, nearly doubled its lobbying expenditure to $15.4 million in 2023, according to federal disclosures.
4. Senate Finance Committee Plans Tweaks to Address Drug Shortages
The Senate Finance Committee is working on measures to combat a long-term shortage of cheap, generic sterile injectables and other essential medicines, including lump-sum payments and new payment benchmarks. The tweaks aim to decrease any exacerbation of race-to-the-bottom pricing and promote competition.
5. J&J’s Diversifies Psoriasis Image Library
Johnson & Johnson continues to expand its visual library of psoriasis in diverse skin types, providing crucial data for research and educational purposes. The comprehensive image library is part of J&J’s ongoing effort to diversify dermatological conditions research and aims to assist healthcare professionals in understanding inequities in psoriasis.
6. Lentiviral Vector Shortage Imminent Unless Manufacturing Is Addressed
Lentiviral vectors, crucial for the production of gene therapies, face a potential shortage unless manufacturing difficulties are tackled, insiders reveal. Increased demand for gene therapies and unsustainable rapid and low-cost production methods contribute to the issue. This shortage could impede the progress of potentially life-changing treatments.
