Pharma and Biotech Daily: Stay Informed on the Latest Industry Updates!

Pharma and BioTech Daily

Good morning from Pharma and Biotech daily: the podcast that gives you only what's important to hear in Pharma e Biotech world. Democrats have introduced a bill to make increased Affordable Care Act (ACA) subsidies permanent, arguing that if the enhanced tax credits expire, healthcare costs for millions of Americans will suddenly increase. Meanwhile, the Senate has voted unanimously to hold Steward Health Care CEO Ralph de la Torre in criminal contempt, marking the first time in over 50 years that such a charge has been sent to the U.S. Department of Justice. Additionally, the Centers for Medicare & Medicaid Services (CMS) is holding Accountable Care Organizations harmless for "highly suspect" Medicare billing practices. A home care agency has settled allegations that it accommodated "race-based requests" for aides, with the Equal Employment Opportunity Commission stating that the agency terminated assignments of black and Hispanic aides to adhere to patients' and family members' racial preferences. The top tech trends transforming healthcare today include leveraging new technologies to navigate workforce shortages, economic pressures, and consumer demands.Arch Venture Partners has raised $3 billion for a new fund to support AI biotech startups. Pfizer has pulled its sickle cell therapy, Oxbryta, from the market due to safety concerns. A study suggests that Novo Nordisk's Ozempic may lower the risk of opioid overdose in diabetics. Research has cast doubt on the benefit of anti-CD20 therapies in multiple sclerosis. The setback with Oxbryta has caused frustration among investors regarding Pfizer's business development track record. Novo and Evotec have partnered for stem cell research, while cancer and diabetes drugs are expected to dominate Medicare negotiations in 2025.Pfizer is pulling its sickle cell drug from the market and shutting down trials due to safety concerns. BioAge successfully priced a $198 million IPO, focusing on obesity drug research. An Italian biotech received $52 million to advance pediatric gene therapies. Arch raised another $3 billion biotech fund to pursue innovative science. The industry is seeing advancements in GLP-1 drugs and exploring new treatments for obesity.Roivant, led by CEO Matt Gline, has found success in the biotech industry by taking a unique approach to acquiring and selling assets from big pharma companies. Despite Gline's lack of experience in biotech, Roivant has weathered the tough biotech climate and generated substantial cash flow. The company's strategy involves investing in products that do not fit into the traditional categories of big pharma, leading to successful acquisitions and partnerships.Placer.ai's latest report explores the potential benefits of offering healthcare services in grocery stores to increase foot traffic and customer loyalty. The report delves into how the addition of a healthcare clinic can impact grocery store visitation patterns, which types of consumers are most likely to visit grocery stores with healthcare offerings, and how loyalty rates differ between stores with wellness centers and those without.Abcam offers antibodies, proteins, kits, and reagents for life science research, with a focus on immunoassays that accelerate throughput. Their SimpleStep ELISA kits provide fast results in 90 minutes or less with high sensitivity, specificity, flexibility, and reproducibility. The 384-well format allows for efficient scaling up with consistent results across labs. For more information on their immunoassays and advertising opportunities, contact Abcam directly. This message is part of a complimentary newsletter subscription to Biopharma Dive, a product of Industry Dive, Inc.