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Near-term upside from deal with AbbVie may be priced in Glenmark's stock
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Devangshu Datta
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Glenmark Pharma (GNP) has just signed an exclusive licensing deal with AbbVie through its subsidiary, Ichnos Glenmark Innovation (IGI), for its lead investigational asset, ISB-2001. The deal could be transformative as it leverages IGI's BEAT protein platform for oncology and autoimmune diseases and the potential of ISB-2001 to treat relapsed and refractory multiple myelomas, underlining the commercial viability of ISB-2001 following successful clinical trials.
AbbVie is considered a diversified biopharma leader. In oncology, it has built a robust presence anchored by cornerstone therapies, which have improved the treatment for chronic lymphocytic leukaemia and other B-cell malignancies, generating multi-billion-dollar
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Hindustan Times
13 hours ago
- Hindustan Times
The Political Race for Fewer Cures
America is leading the world into a new era of medical cures and biologic treatments, and the benefits to human health promise to be staggering. Yet why is America's political class—first Democrats and now Republicans—working hard to delay and maybe forestall this progress? Democrats have done much harm already with their Inflation Reduction Act price controls, as research and venture funding have declined. Now comes President Trump, who last week threatened drug companies with price controls or worse if they don't cut prices as he wants. Mr. Trump's excuse is that other countries are 'free riding' on American innovation. His solution: Demand manufacturers give Americans their 'most-favored nation' (MFN) price—i.e., the lowest in other developed countries like Canada and the U.K. If drug makers refuse, he may yank their drug approvals, harass them with lawsuits and more. 'If you refuse to step up, we will deploy every tool in our arsenal to protect American families from continued abusive drug pricing practices,' Mr. Trump wrote to 17 large drug makers on Thursday. *** It's true that countries with government-run health systems like Canada, the U.K. and France pay less for drugs than Medicare and U.S. private insurers do. But the price disparities Mr. Trump cites don't include all the discounts that U.S. manufacturers provide insurers, hospitals, pharmacies and the feds. A Berkeley Research Group study last year found that drug makers received about 50% on a dollar of revenue for every drug they sold in the U.S. The rest was paid out in fees and discounts to intermediaries and the government. Some discounts are passed onto Americans through lower insurance premiums, though some boost hospital and insurer profits. Medicare and Medicaid spent $181 billion on prescription drugs in 2023 versus $662 billion for hospitals. Patient out-of-pocket spending on prescription drugs accounts for about 1% of U.S. healthcare spending. Drugs aren't the main driver of healthcare premiums, patient costs or government spending. Manufacturers benefit for a few years from patent protection after medicines launch, but then they face stiff competition from follow-on medicines and generics. Prices typically fall by more than half after patent protection ends. Sales of AbbVie's auto-immune blockbuster Humira have shrunk by more than half since its patent monopoly ended in 2023. Unbranded generics in the U.S. make up 90% of all prescriptions and cost one-third less than in other economically developed countries, according to RAND. Generics also make up a much larger share of prescriptions in the U.S. than in other countries. That's because higher manufacturer list prices provide an incentive to develop biosimilars and generics. This market competition can reduce prices more than government price controls while providing an incentive for drug makers to continue to innovate. Mr. Trump's order would do the opposite by discouraging development of generics and new breakthrough treatments. Mr. Trump claimed last week that drug manufacturers receive 'generous research subsidies.' Not true. Universities do, and some of their research can lead to future drugs. But the pharmaceutical industry spent $141 billion on research and development in 2022, nearly 40 times as much as the National Institutes of Health did on research directly related to drug development. Browbeating companies, as Mr. Trump is doing, could spur them to move more intellectual property to China, where Xi Jinping is rolling out the red carpet. And it will likely result in fewer new drugs developed and sold in the U.S., especially in riskier research fields like neurologic and rare genetic diseases. If drug makers refuse Mr. Trump's MFN price, he has directed his Attorney General and Federal Trade Commission to take antitrust 'enforcement action.' Mr. Trump also ordered his Food and Drug Administration Commissioner Marty Makary to modify or revoke approvals 'for those drugs that maybe be unsafe, ineffective, or improperly marketed.' Translation: Nice medicine you have there. Terrible if something happened to it. *** It's not clear what legal authority Mr. Trump plans to invoke to do any of this, and it would presumably need a rule-making that could be challenged in court. His plan appears to usurp Congress's power over commerce and violate the Supreme Court's major questions doctrine. It may also violate due process and property and contractual rights. Mr. Trump had a chance to include drug prices in his trade negotiations with other countries. But he failed to do so with Europe and Japan. Instead he is now going to import foreign price controls to punish U.S. companies—and the Americans who will get fewer cures as a result.
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Business Standard
2 days ago
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Tesla to open second India showroom in Delhi's Aerocity on Aug 11: Report
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Time of India
2 days ago
- Time of India
South Korean actor Song Young-Kyu found dead in car two weeks after facing massive backlash over DUI controversy
Popular South Korean actor Song Young-Kyu , known for his roles in K-dramas like "Big Bet", "Hwarang" and "Hot Stove League", has been found dead inside a vehicle days after he was caught into a DUI scandal. He was 55. Song Young-Kyu was reportedly found dead in a car on Sunday at a townhouse complex in Yongin, Gyeonggi Province. An investigation has been launched by the Yongin Eastern Police Station and the cause of his death remains unknown, local news website Koreaboo reported. Explore courses from Top Institutes in Please select course: Select a Course Category CXO Finance Artificial Intelligence Project Management Digital Marketing healthcare Data Science Data Science Operations Management Product Management Leadership Cybersecurity Others Public Policy Technology MBA MCA Healthcare Design Thinking PGDM Management Skills you'll gain: Customer-Centricity & Brand Strategy Product Marketing, Distribution, & Analytics Digital Strategies & Innovation Skills Leadership Insights & AI Integration Expertise Duration: 10 Months IIM Kozhikode IIMK Chief Marketing and Growth Officer Starts on Apr 7, 2024 Get Details Skills you'll gain: Technology Strategy & Innovation Emerging Technologies & Digital Transformation Leadership in Technology Management Cybersecurity & Risk Management Duration: 24 Weeks Indian School of Business ISB Chief Technology Officer Starts on Jun 28, 2024 Get Details Skills you'll gain: Digital Strategy Development Expertise Emerging Technologies & Digital Trends Data-driven Decision Making Leadership in the Digital Age Duration: 40 Weeks Indian School of Business ISB Chief Digital Officer Starts on Jun 30, 2024 Get Details Skills you'll gain: Operations Strategy for Business Excellence Organizational Transformation Corporate Communication & Crisis Management Capstone Project Presentation Duration: 11 Months IIM Lucknow Chief Operations Officer Programme Starts on Jun 30, 2024 Get Details ALSO READ: Karoline Leavitt, 27, has a net worth of $7 million: Here's the secret behind how Trump's youngest star amassed such fortune by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Crossout: New Apocalyptic MMO Crossout Play Now Undo Why was Song Young-Kyu arrested? Song Young-Kyu's death comes just two weeks after he was found involved in DUI incident in Yongin. The veteran South Korean actor was arrested for drunk driving on June 19 with a blood alcohol concentration of 0.08 percent and it is a serious offence in South Korea. The actor was found driving under the influence and his license was revoked under the South Korean law. The incident caused Song Young-Kyu to be removed from several acting roles like ENA's "The Defects", SBS's "The Winning Try" and stage play "Shakespeare In Love". "The Defects" which he had already shot for, issued a statement which stated that his screen time would be restricted following the controversy. Live Events On June 19, Song Young Kyu was caught driving under the influence. He drove about 5 kilometres while drunk in Yongin, the same area where he lived and was then referred to the prosecution. Though the incident happened in June, it only became public a month later in late July. This brought a wave of backlash and led to major changes in his professional life. ALSO READ: Duke Dennis handcuffed after bizarre mall game in San Antonio. What are the charges against him? On Monday, Song Young-Kyu was allegedly found unconscious inside a parked vehicle by an acquaintance. After the police were alerted, an investigation was launched into his death and the circumstances surrounding it. Police confirmed there were no signs of foul play and no suicide note was found. Song is survived by his wife and two daughters. In South Korea, celebrities are held to a higher moral grounds and controversies often lead to heavy scrutiny and impact on career. Reports suggest Song-Young-Kyu was said to be extremely concerned by the DUI charges and its aftermath. As per Koreaboo, 'He was distressed by the malicious articles and comments, and the circumstances were extremely unfavourable at that time.' Song Young-Kyu started his career on stage with a children's musical Wizard Mureul in 1994. His work encompassed theater, film and television. While Extreme Job brought him worldwide acclaim, he also appeared in projects including Hyena, Trick, Baseball Girl and Stove League. (With PTI inputs)
