LOS ANGELES (MarketWatch)—The future appeared golden when Gilead Sciences Inc. reported its results Tuesday, with earnings per share blowing past forecasts and revenue beating estimates by more than half a billion dollars.
So why was Gilead’s GILD, -7.92% stock down by double digits at one point Wednesday morning? The main driver of those results, the hit hepatitis C drug Sovaldi, will come down in price, the company says.
Gilead will begin offering discounts and rebates of up to 46% this year for the $1,000-a-day pill to insurers and others who pay for health care expenses, now that rivals like AbbVie Inc. ABBV, -6.73% and Merck & Co. Inc. MRK, -2.90% are entering the market.
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Wednesday, February 4, 2015
UPDATE 2-Merck says hepatitis C treatment to lose "breakthrough" status
Feb 4 (Reuters) - Merck & Co on Wednesday said the U.S. Food and Drug Administration intends to rescind its "breakthrough therapy" designation for the company's experimental combination treatment for hepatitis C because of other recently approved treatments.
Merck, in its fourth-quarter earnings report, said it plans to discuss the matter with the FDA, and still expects to seek U.S. approval for the treatment in the first half of 2015. It consists of a protease inhibitor called MK-5172 and a so-called NS5A inhibitor called MK-8742 that together had received the "breakthrough therapy" designation from the FDA.
The setback for Merck's treatment follows recent approvals of costly oral treatments for the liver disease from Gilead Sciences Inc and AbbVie that have wiped out all signs of the virus in more than 90 percent of patients after eight or 12 weeks.
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Tuesday, February 3, 2015
Ghana: Hepatitis C More Prevalent Than HIV/AIDS or Ebola Yet Lacks Equal Attention
Loyola’s HepNet study reveals high frequency of active infection and multiple risk factors in Ghana
Newswise — More than 180 million people in the world have hepatitis C, compared with the 34 million with HIV/AIDS and the roughly 30,000 who have had Ebola. Yet very little is heard about the hepatitis C virus (HCV) in the way of awareness campaigns, research funding or celebrity fundraisers.
One of the global regions highly affected by hepatitis C is West Africa. In developed countries, hepatitis C, a blood-borne disease, is transmitted through intravenous (IV) drug use. “In West Africa, we believe that there are many transmission modes and they are not through IV drug use, but through cultural and every day practices,” says Jennifer Layden, MD, PhD principal investigator on a study recently published in the journal Clinical Infectious Diseases. “In this study, tribal scarring, home birthing and traditional as opposed to hospital-based circumcision procedures, were associated with hepatitis C infection in Ghana.”
The study was conducted by HepNet, an international multidisciplinary group of physicians and scientists. “The other important finding was that a high percentage of individuals who tested positive for HCV had evidence of active infection,” says Layden. “This illustrates the need for treatment.”
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Doctors group joins fight against 'skyrocketing' drug prices
These doctors are concerned you won't be able to afford the medicines they want to prescribe you.
A national group of more than 140,000 physicians on Tuesday joined a coalition dedicated to reversing the growing trend of high-cost specialty drugs, which are being blamed for straining the finances of patients, insurance plans and public health coverage programs.
The move by the American College of Physicians came a day after the Obama administration said it is asking Congress to give it power to negotiate with drugmakers over the prices of costly prescription medication provided to Medicare beneficiaries.
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A national group of more than 140,000 physicians on Tuesday joined a coalition dedicated to reversing the growing trend of high-cost specialty drugs, which are being blamed for straining the finances of patients, insurance plans and public health coverage programs.
The move by the American College of Physicians came a day after the Obama administration said it is asking Congress to give it power to negotiate with drugmakers over the prices of costly prescription medication provided to Medicare beneficiaries.
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UK: Lesley Hughes now demanding apology for blood transfusion scandal blighting thousands of patients
At risk: Lesley Hughes who found out just last year she contracted hepatitis C from a blood transfusion.
It was the blood that was supposed to give her life.
However, the 61-year-old says that blood has given her a death sentence after discovering just last year by chance that it infected her with the deadly virus hepatitis C.
Last week the couple from the New Forest travelled to London where the issue was debated in parliament with MPs calling for a long-awaited national public apology and final settlement ahead of the results of a public inquiry into the scandal being published in March.
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Canada: Hepatitis C outbreak declared at Kitchener colonscopy clinic
A hepatitis C outbreak has been declared after five patients were diagnosed with the virus following treatment at the Tri-City Colonoscopy Clinic in Kitchener on Christmas Eve in 2013.
The patients were treated that day along with eight others, according to a report from Waterloo Region Public Health.
"At this point in time, Public Health has no evidence that there was a risk to clients seen on other days at Tri-City Colonoscopy Clinic," the report said.
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The patients were treated that day along with eight others, according to a report from Waterloo Region Public Health.
"At this point in time, Public Health has no evidence that there was a risk to clients seen on other days at Tri-City Colonoscopy Clinic," the report said.
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Catamaran Introducing Innovative Clinical Outcomes-Based Program for Hepatitis C Treatment
- Company Selects Gilead Sciences as its Exclusive Hepatitis C Treatment Provider -
- Program Offered Exclusively Through Company's Specialty Pharmacy, BriovaRx® -
- Program Offered Exclusively Through Company's Specialty Pharmacy, BriovaRx® -
SCHAUMBURG, IL, Feb. 3, 2015 /PRNewswire/ - Catamaran Corp. (NASDAQ: CTRX, TSX: CCT), a leading provider of pharmacy benefit management (PBM) services and technology, today announced that it is introducing a new clinical outcomes-based program for hepatitis C treatment through its specialty pharmacy, BriovaRx®.
This new program will provide clients of Catamaran and BriovaRx an innovative new approach to hepatitis C treatment. Centered on producing positive health outcomes, the program will allow for overall treatment costs to take into account clinical results. Patients will be monitored during their entire treatment regimen through their participation in BriovaRx's Hepatitis C Patient Management Program in order to support full adherence.
"When looking for a hepatitis C partner, our goal was not only to ensure the best possible value for the treatment cost alone, but also to promote the best possible health outcomes for our patients," said Albert Thigpen, SVP, Industry Relations & Supply Chain Management, Catamaran. "This innovative strategy supports Catamaran's view that a smarter approach to medicine has the power to lower overall healthcare costs and promotes optimal outcomes over the long-term."
Gilead Sciences, Inc.'s hepatitis C treatments, Harvoni and Sovaldi, are the exclusive options on Catamaran's National and Value Formularies. Catamaran's commercial clients will be eligible to participate in this clinical outcomes-based program for hepatitis C if they utilize one of these formularies or have a custom formulary and opt-in to the program.
"Catamaran and BriovaRx are rooted in delivering a more integrated healthcare experience for patients through a holistic and personalized approach," said, Sumit Dutta, M.D., M.B.A., Senior Vice President and Chief Medical Officer, Catamaran. "Our clinical outcomes-based program for hepatitis C supports this mission, empowering our nurses and pharmacists to partner with patients in a way that truly drives better health outcomes and ensures these high-cost therapies accomplish what they were designed to do."
To offer patients personalized care and achieve higher persistency and adherence rates, BriovaRx employs a variety of programs to aid patients. BriovaRx's Hepatitis C Patient Management Program features a nursing team that creates an individualized care plan for each patient based on the complexity of their condition and co-morbidities. Offerings like this have helped increase adherence and persistency for patients, contributing to overall cost savings and improved clinical outcomes.
About Catamaran
Catamaran, the industry's fastest-growing pharmacy benefits manager, helps organizations and the communities they serve take control of prescription drug costs. Managing more than 350 million prescriptions each year on behalf of over 32 million members, our flexible, holistic solutions improve patient care and empower individuals to take charge of their health. Processing one in every five prescription claims in the U.S., Catamaran's skill and scale deliver compelling financial results and sustainable improvement in the overall health of members. Catamaran is headquartered in Schaumburg, Ill., with multiple locations in the U.S. and Canada. For more information, please visit CatamaranRx.com, and for industry news and information, follow Catamaran on Twitter, @CatamaranCorp.
Press Release Source: http://www.prnewswire.com/news-releases/catamaran-introducing-innovative-clinical-outcomes-based-program-for-hepatitis-c-treatment-290667831.html
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