Trump's Medicaid freeze, Ozempic for kidney disease, and 23andMe for sale: Pharma news roundup
President Donald Trump's move to freeze federal funding for a massive number of government programs impacted Medicaid payment systems across the country, briefly locking 72 million Americans out of their health insurance Tuesday. Novo Nordisk said this week that its diabetes drug Ozempic was approved by the Food and Drug Administration (FDA) as the first GLP-1 treatment for chronic kidney disease. 23andMe (ME), the company that popularized consumer genetic testing, announced this week that it is once again exploring 'strategic alternatives,' which could include a potential sale of the company.
Check out those stories and more pharmaceutical news highlights from this week.
The U.S. Centers for Medicare and Medicaid Services (CMS) said on Wednesday that it would seek 'greater transparency' in drug price negotiations under President Donald Trump's administration. The statement follows criticism from the pharmaceutical industry regarding the program. 'As the second cycle begins under the Trump Administration, CMS is committed to incorporating lessons learned to date from the program and to considering opportunities to bring greater transparency in the Negotiation Program,' the agency said in a statement.
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23andMe, the company that popularized consumer genetic testing, announced Tuesday that it is once again exploring 'strategic alternatives,' which could include a potential sale of the company or a restructuring. In a press release on Tuesday, the company said it needs additional liquidity to fund its operations and that 'management has determined that there is substantial doubt about the Company's ability to continue as a going concern.'
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Novo Nordisk (NVO) announced today that its blockbuster drug Ozempic was approved by the Food and Drug Administration (FDA) as the first GLP-1 treatment for chronic kidney disease among people with type 2 diabetes. The popular diabetes drug can now be used to reduce the risk of kidney disease worsening, kidney failure, and death due to heart disease in adults with type 2 diabetes and chronic kidney disease.
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President Donald Trump's move to freeze federal funding for a massive number of government programs seems to have impacted Medicaid payment systems across the country, potentially locking 72 million Americans out of their health insurance. Several lawmakers took to social media on Tuesday afternoon to confirm that their state's Medicaid payment systems have been shut off. 'The White House is aware of the Medicaid website portal outage. We have confirmed no payments have been affected — they are still being processed and sent,' White House spokesperson Karoline Leavitt wrote in a post on X on Tuesday.
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Robert F. Kennedy Jr., President Donald Trump's nominee for health secretary, reportedly expressed openness to seizing drug patents of high-priced drugs as a way to lower prices. Politico reports that Kennedy indicated during a closed-door meeting with Senate Finance Committee staffers that he would consider adopting a proposal championed by progressive lawmakers like Senators Elizabeth Warren and Bernie Sanders. The outlet cited three unnamed sources familiar with the exchange.
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The millennial-targeted telehealth company Hims & Hers (HIMS) is spending big bucks on its first-ever Super Bowl commercial to hawk its affordable weight-loss treatments. With Super Bowl ads reportedly costing about $7 million for a 30-second spot this year, Hims & Hers likely spent about $14 million for its one-minute commercial.
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Pharmaceutical companies have already raised the price of over 800 brand-name prescription drugs this year. The increases apply to list prices before accounting for insurance, rebates to pharmacy benefit managers, or other discounts. This year's increases reflect a significant increase from Dec. 29 of last year, when drugmakers had shared plans to raise prices on just over 140 brands. More price hikes are also expected to be announced through the end of January, historically the busiest month for drugmakers to make increases.
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LinkedIn (MSFT) co-founder and venture capitalist Reid Hoffman on Monday launched an AI startup aimed at discovering new treatments for cancer. Manas AI will use a proprietary AI-driven platform to help speed up the drug discovery process, from identifying potential drug candidates with 'paradigm-shifting speed and accuracy' all the way to clinical trials, Hoffman said in a press release. The company is initially focusing on treatments for breast cancer, prostate cancer, and lymphoma. Eventually, it intends to target other autoimmune diseases and rare conditions.
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Newsweek
27 minutes ago
- Newsweek
Traveler Says Us Food Is Making Them 'Sick,' Internet Has Strong Opinions
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. An American traveler's viral Reddit post about the stark contrast between food in the United States and Italy has ignited widespread discussion about diet, health and food quality in the U.S. The post, titled "Travel made me realize US food is making me sick," was shared by u/Temporary-Night-275 in the r/Vent subreddit. The post, which details the traveler's experience after returning from a trip to Italy, has amassed 30,000 upvotes and hundreds of comments since it was posted on June 4. The poster, who is in their 20s but did not share their name, told Newsweek that they live in the Midwest and work in health care. "I'm just so mad at the food in the US," the poster wrote. "I left for two weeks to Italy. My mood was better, my awareness was better. I could eat wheat (I'm extremely gluten intolerant and it messes with my autoimmune disease if I eat it among a multitude of other symptoms) with gluten pills with minor bloating. "I had some of the best food, best health feelings—other than muscle soreness from walking so much—I've ever had in my life. It's made me have so much resentment for U.S. food. I mean even my skin cleared up quite a bit overseas." Dr. Sandip Sachar, a New York City dentist with a background in nutrition studies, told Newsweek: "It is quite possible the Reddit poster's experience was accurate and has validity." Sachar explained: "Italy does not add fluoride to its public water supply. Unlike countries such as the United States, where water fluoridation is a public health measure to prevent tooth decay, Italy has never implemented artificial water fluoridation programs. "Despite not adding fluoride to its water supply, Italy does not have significantly higher caries [tooth decay] rates compared to the U.S. within similar socioeconomic populations." She added that diet and culture likely play a role: "Food isn't rushed or eaten on the go." A 2018 study in the American Journal of Lifestyle Medicine highlighted broader concerns about American dietary habits. The study said "that most chronic diseases that afflict Americans are predominantly lifestyle induced; and the belief is that the vast majority of heart attacks and strokes could be prevented if people were willing to adopt healthy lifestyle behaviors." The study noted: "Over the past 50 years, the health of Americans has gotten worse, and now 71 percent of Americans are overweight or obese…today, eating processed foods and fast foods may kill more people prematurely than cigarette smoking." Stock image of a table spread with various American-themed foods, including hot dogs, burgers and potato chips. Stock image of a table spread with various American-themed foods, including hot dogs, burgers and potato chips. Getty The traveler explained in the viral post: "I eat pretty healthy—I love snacking on veggies. It just makes me so mad that having any kind of sugar is just too much here [the U.S.]. Sugar and wheat and whatever else is just so much harder on my body here than Italy." The poster told of how was initially "too nervous" to try gluten while abroad, after not having had it in 10 years. However, when they did, the reaction was mild. The poster told Newsweek: "I didn't wake up the next day feeling like I got hit by a bus. I didn't have the skin irritation. I didn't have massive weight gain, just bloating and cramping. "When I took my gluten enzymes, it basically resolved the effects in a couple hours. And this was after eating pizza, bread and pasta. Everything I ate just tasted not only better, but just better quality. It's really hard to explain. I just could tell it was cleaner." Reflecting on life back in the U.S., the poster said: "Overall, since [my travels], I have adopted some foods from overseas and try to buy organic and imported [foods]. I have continued to feel better, but there's only so much I can do when organic costs more…all I can say there is definitely a difference in quality, taste and overall feeling from the foods I had [abroad]." Food in Italy vs. the US Sachar told Newsweek: "Italy's traditional Mediterranean diet is low in added sugars. It is high in fiber, healthy fats, like olive oil, and antioxidants. Generally speaking Italian food is based on more real, minimally processed food." She added: "In the U.S., high sugar and salt is found in everything from cereals to sauces. Sugar is fuel for Streptococcus mutans, the bacteria most responsible for tooth decay. Sugary foods also cause rapid glucose spikes, triggering a strong insulin response. "Over time, this can contribute to insulin resistance, fat storage, type 2 diabetes, heart disease, obesity and increased inflammation. Excess sugar also disrupts the gut microbiome." Comparing breads, Sachar said: "Italian bread is usually made with just three to four ingredients—flour, water, salt, and yeast." In contrast, much of American bread contains dough conditioners (e.g. azodicarbonamide), emulsifiers, added sugars or high-fructose corn syrup, preservatives to extend shelf life and synthetic vitamins (fortified), she said. Sachar noted that traditional Italian and European breads often undergo long fermentation (12 to 48 hours), making them easier to digest and reducing the glycemic index. "Most commercial breads in the U.S. do not go through this long fermentation process because speed is prioritized." Cultural attitudes toward food also differ significantly. "Meals in Italy are slower, social, and often cooked at home. Food isn't rushed or eaten on the go. Lunch breaks are usually one to two hours long. Children grow up learning better eating habits. Portions are smaller too. In the U.S., convenience and speed is considered a priority. Processed foods and takeout are therefore widespread," Sachar said. 'The Quality of Our Food Is Garbage' Reddit users responding to the viral post shared their own experiences of struggling with American food. "When I first moved to the U.S. I gained 60 whole ass pounds," wrote u/Ok_Profile_9278. "My habits didn't actually change much, but everyone I know who's come here from a different country has a similar story to tell." U/Platypus_31415 echoed this: "I spent three weeks in the U.S. and it took me three to four months to recover. It's the land of the free: free to sell crap to the customers." Another commenter, u/SureAd5625, pointed to a deeper problem: "The issue isn't even the type of food. It's what's in our food. Other countries have diets that are extremely carb heavy and you'll still see people that are skinny…and relatively healthier. The quality of our food is gaaaaarbage." Another noted that lifestyle plays a role. "It's also our very sedentary and car-dependent lifestyles," said u/Corguita. "When you walk and move more to get to places naturally, there's a whole lot of things that come with that. When you just drive from one place to another, you don't burn as many calories, you don't digest as well." Do you have a travel-related video or story to share? Let us know via life@ and your story could be featured on Newsweek.
Yahoo
32 minutes ago
- Yahoo
Iovance Biotherapeutics to Present at Upcoming Conference
SAN CARLOS, Calif., June 10, 2025 (GLOBE NEWSWIRE) -- Iovance Biotherapeutics, Inc. (NASDAQ: IOVA), a biotechnology company focused on innovating, developing, and delivering novel polyclonal tumor infiltrating lymphocyte (TIL) therapies for patients with cancer, today announced that senior leadership plans to present at the following conference: Goldman Sachs Global Healthcare ConferenceFireside Chat: June 11, 2025 at 1:20 p.m. ETMiami, FL The live and archived webcasts will be available at About Iovance Biotherapeutics, Inc. Iovance Biotherapeutics, Inc. aims to be the global leader in innovating, developing, and delivering tumor infiltrating lymphocyte (TIL) therapies for patients with cancer. We are pioneering a transformational approach to cure cancer by harnessing the human immune system's ability to recognize and destroy diverse cancer cells in each patient. The Iovance TIL platform has demonstrated promising clinical data across multiple solid tumors. Iovance's Amtagvi® is the first FDA-approved T cell therapy for a solid tumor indication. We are committed to continuous innovation in cell therapy, including gene-edited cell therapy, that may extend and improve life for patients with cancer. For more information, please visit Amtagvi ® and its accompanying design marks, Proleukin®, Iovance®, and IovanceCares™ are trademarks and registered trademarks of Iovance Biotherapeutics, Inc. or its subsidiaries. All other trademarks and registered trademarks are the property of their respective owners. Forward-Looking Statements Certain matters discussed in this press release are 'forward-looking statements' of Iovance Biotherapeutics, Inc. (hereinafter referred to as the 'Company,' 'we,' 'us,' or 'our') within the meaning of the Private Securities Litigation Reform Act of 1995 (the 'PSLRA'). Without limiting the foregoing, we may, in some cases, use terms such as 'predicts,' 'believes,' 'potential,' 'continue,' 'estimates,' 'anticipates,' 'expects,' 'plans,' 'intends,' 'forecast,' 'guidance,' 'outlook,' 'may,' 'can,' 'could,' 'might,' 'will,' 'should,' or other words that convey uncertainty of future events or outcomes and are intended to identify forward-looking statements. Forward-looking statements are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments, and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and we undertake no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, many of which are outside of our control, that may cause actual results, levels of activity, performance, achievements, and developments to be materially different from those expressed in or implied by these forward-looking statements. Important factors that could cause actual results, developments, and business decisions to differ materially from forward-looking statements are described in the sections titled "Risk Factors" in our filings with the U.S. Securities and Exchange Commission, including our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, and include, but are not limited to, the following substantial known and unknown risks and uncertainties inherent in our business: the risks related to our ability to successfully commercialize our products, including Amtagvi, for which we have obtained U.S. Food and Drug Administration ('FDA') approval, and Proleukin, for which we have obtained FDA and European Medicines Agency ('EMA') approval; the risk that the EMA or other ex-U.S. regulatory authorities may not approve or may delay approval for our marketing authorization application submission for lifileucel in metastatic melanoma; the acceptance by the market of our products, including Amtagvi and Proleukin, and their potential pricing and/or reimbursement by payors, if approved (in the case of our product candidates), in the U.S. and other international markets and whether such acceptance is sufficient to support continued commercialization or development of our products, including Amtagvi and Proleukin, or product candidates, respectively; future competitive or other market factors may adversely affect the commercial potential for Amtagvi or Proleukin; the risk regarding our ability or inability to manufacture our therapies using third party manufacturers or at our own facility, including our ability to increase manufacturing capacity at such third party manufacturers and our own facility, may adversely affect our commercial launch; the results of clinical trials with collaborators using different manufacturing processes may not be reflected in our sponsored trials; the risk regarding the successful integration of the recent Proleukin acquisition; the risk that the successful development or commercialization of our products, including Amtagvi and Proleukin, may not generate sufficient revenue from product sales, and we may not become profitable in the near term, or at all; the risks related to the timing of and our ability to successfully develop, submit, obtain, or maintain FDA, EMA, or other regulatory authority approval of, or other action with respect to, our product candidates; whether clinical trial results from our pivotal studies and cohorts, and meetings with the FDA, EMA, or other regulatory authorities may support registrational studies and subsequent approvals by the FDA, EMA, or other regulatory authorities, including the risk that the planned single arm Phase 2 IOV-LUN-202 trial may not support registration; preliminary and interim clinical results, which may include efficacy and safety results, from ongoing clinical trials or cohorts may not be reflected in the final analyses of our ongoing clinical trials or subgroups within these trials or in other prior trials or cohorts; the risk that enrollment may need to be adjusted for our trials and cohorts within those trials based on FDA and other regulatory agency input; the risk that the changing landscape of care for cervical cancer patients may impact our clinical trials in this indication; the risk that we may be required to conduct additional clinical trials or modify ongoing or future clinical trials based on feedback from the FDA, EMA, or other regulatory authorities; the risk that our interpretation of the results of our clinical trials or communications with the FDA, EMA, or other regulatory authorities may differ from the interpretation of such results or communications by such regulatory authorities (including from our prior meetings with the FDA regarding our non-small cell lung cancer clinical trials); the risk that clinical data from ongoing clinical trials of Amtagvi will not continue or be repeated in ongoing or planned clinical trials or may not support regulatory approval or renewal of authorization; the risk that unanticipated expenses may decrease our estimated cash balances and forecasts and increase our estimated capital requirements; the risk that we may not be able to recognize revenue for our products; the risk that Proleukin revenues may not continue to serve as a leading indicator for Amtagvi revenues; the risks regarding our anticipated operating and financial performance, including our financial guidance and projections; the effects of global pandemic; the effects of global and domestic geopolitical factors; and other factors, including general economic conditions and regulatory developments, not within our control. Any financial guidance provided in this press release assumes the following: no material change in our ability to manufacture our products; no material change in payor coverage; no material change in revenue recognition policies; no new business development transactions not completed as of the period covered by this press release; and no material fluctuation in exchange rates. CONTACTS InvestorsIR@ ext. 150 MediaPR@ 650-260-7120 ext. 150Sign in to access your portfolio
Business Wire
an hour ago
- Business Wire
Navitus Drug Trend Report: Keeping Costs Low for Plans and Members in an Era of Accelerating Inflation
MADISON, Wis.--(BUSINESS WIRE)-- Navitus, the nation's first transparent, pass-through pharmacy benefit manager (PBM), released its ninth annual Drug Trend Report today, revealing how commercial plan sponsors saved millions in prescription costs while maintaining high-quality member care. 30% of Navitus clients spent less in 2024 than in the previous year, while overall client book of business drug cost trend was managed to 7%. The data shows that medications such as glucagon-like peptide-1 receptor agonists (GLP-1 RAs) are creating unprecedented financial pressure on plan sponsors as utilization for diabetes treatment increased 26% year-over-year. Overall health spending in the United States is nearly $4.9 trillion and projected to increase nearly 6% annually over the next decade. 1 A subset of this, prescription drug spending, was estimated to be $487 billion in 2024, an industry-wide 11.4% increase over the previous year, compared to 7% for Navitus clients. While the industry faces these escalating cost pressures, our latest Drug Trend Report highlights how Navitus continues to outperform industry trends and save clients money in this challenging environment, including companies such as Progressive Insurance. 'Navitus stands out for its commitment to transparency and managing to lowest net cost, which has significantly benefited Progressive and its members. From the outset, their 100% pass-through model has ensured that we receive the full value of manufacturer rebates and discounts, directly translating to reduced pharmacy costs,' said Heidi Minter, Data Analyst, Benefits & Design Services, Progressive Insurance. The Navitus Drug Trend Report revealed three critical trends influencing the broader industry: 1. 26% increase in GLP-1 RAs use for treatment of type 2 diabetes. While delivering significant clinical benefits, these medications are contributing substantially to pharmaceutical cost increases for benefit plans: Net trend in the diabetes category increased 8.5%, driven by growth in both the use of GLP-1 RAs, including Ozempic, Mounjaro and Trulicity, and a 16% increase in use of sodium-glucose cotransporter-2 inhibitors (SGLT-2s), including Farxiga and Jardiance. The prevalence and cost of GLP-1 RAs and SLGT-2s resulted in an overall unit cost increase of 3.0% for the diabetes category, in spite of the net cost decrease of more than 28% for insulin in 2024. 2. Biosimilars delivered $315 million in savings with a 60% reduction in Humira costs. Targeted immunomodulators (TIMs) treat a wide range of autoimmune disorders, from rheumatoid arthritis and psoriasis to inflammatory bowel diseases. The launch of Humira biosimilar alternatives in 2023 significantly changed the landscape of the category as these clinically-equivalent, much lower cost options were added to formulary. After adding biosimilars to formulary, Navitus took a decisive step to lower costs further by removing Humira from formulary in June 2024. This led to key results including: Over $315 million in upfront cost savings. 60% reduction in net costs per claim. 3. Specialty medication utilization increased 12%. Approximately 75% of new drug approvals have been for specialty or medical specialty agents, and that trend is expected to continue in the next two years. Key factors included: Oncology net trend increased more than 13%, driven by both higher utilization and unit cost: Utilization of newer breast cancer treatments (Kisqali, Verzenio) increased 20%, driving overall cost. In specialty dermatology, Dupixent (dupilumab) emerged as the most rapidly growing drug of 2024. The category saw a net trend increase of more than 45% and Dupixent represented 96% of category cost and utilization. While increased use of newer, more expensive agents like Kesimpta created upward pressure within the multiple sclerosis category, generics represented more than 50% of prescriptions filled at 10% of the cost. Expand 'Our annual Drug Trend Report confirms we were able to control year-over-year costs for commercial clients - both large and small - and deliver savings greater than the estimated industry averages,' said Sharon Faust, PharmD, MBA, CSP, Chief Pharmacy Officer, Navitus Health Solutions. 'Deploying generic-first strategies, facilitating adoption of new biosimilars, ensuring 100% pass-through of negotiated rebates and discounts, and supporting clinically appropriate prescribing, utilization and formulary management remain core to our focus.' Access the Navitus Drug Trend Report executive summary here: Methodology: The Navitus drug trend is calculated by comparing the net total cost per-member per-month (PMPM) for 2024 to that for 2023. Net cost PMPM represents full-year (Q1-Q4) data for total member copays and plan paid amounts minus manufacturer rebates and fees. This value is divided by the total number of members and by 12 months of the year. The data represents employer plan sponsors and health plans. In order to be included organizations must have been with Navitus for two full calendar years. * Due to varying coverage decisions by clients, GLP-1s for weight loss were not included in the Drug Trend Report, yet they still warrant thoughtful consideration and conversation in the overall picture of trend and future decisions. The DTR only represents prescriptions under the pharmacy benefit. 40% of Rx spend is through the medical benefit and warrants careful consideration by plans. Sources: About Navitus Navitus remains the nation's first transparent, pass-through pharmacy benefit manager (PBM). It uniquely brings clarity to drug pricing and takes costs out of the drug supply chain. Unlike traditional PBMs that generate profit by retaining an undisclosed portion of rebates and discounts negotiated with drug manufacturers and pharmacies, Navitus passes along the complete savings to clients, enabling them to make medication more affordable for their members. Navitus was established more than 20 years ago by Navitus Health Solutions, LLC, a pioneering pharmacy solutions company. The organization delivers a range of services through portfolio brands including Navitus, Lumicera, Archimedes. Owned by SSM Health and Costco, Navitus Health Solutions serves over 18 million lives across 800 clients including employers, unions, government plans, payors and health systems. For more information, please visit
