Medicare would cover CAR-T cell therapies under new CMS proposal

A new proposal from the Centers for Medicare & Medicaid Services would have Medicare cover FDA-approved CAR T-cell therapies, according to a Friday announcement from the agency. CAR T-cell therapy is a new form of cancer therapy that harnesses a patient’s own immune system to fight the disease. There are currently only two approved CAR-T cell therapies, Novartis’s NVS, +0.65% […]

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Gilead stock down nearly 4% as drug trial fizzles

Gilead Sciences Inc. GILD, +0.22% shares fell 4% in the extended session Monday after the pharma company said a late-stage, placebo-controlled study designed to evaluate a type of chronic liver disease drug, Selonsertib, did not meet its desired outcome without worsening the patients’ condition. "While we are disappointed that the STELLAR-4 study did not achieve its primary endpoint, we remain […]

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‘Miracle’ 24-hour flu pill Xofluza foiled by resistant strains

TOKYO—A new pill that can kill the flu virus in 24 hours with a single dose has become the most-prescribed influenza treatment in Japan, which is suffering through its worst flu season in two decades. The pill, called Xofluza, was discovered by Osaka-based Shionogi4507, -2.70% and it was approved last year by regulators in Japan and the U.S. In the U.S., […]

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‘Totally outrageous’ and ‘great job’: What lawmakers are saying about Trump’s State of the Union address

Democrats slammed President Donald Trump over his comments about “ridiculous partisan investigations” in his State of the Union speech on Tuesday night, as a key Republican said the commander-in-chief hit the right notes on his proposed border wall. Rep. Lloyd Doggett of Texas said Trump’s comment about probes was “totally outrageous” — a sentiment echoed by other Democrats who saw […]

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Pain Therapeutics stock plunges after company slams FDA for refusing to approve drug

Shares of biotech Pain Therapeutics Inc. PTIE, -8.05% fell 18% Tuesday after the company released a statement railing against the U.S. Food and Drug Administration’s refusal to approve drug candidate Remoxy, an extended-release form of oxycodone that the company says has abuse-deterrent qualities. Pain Therapeutics accused the FDA of making “math errors, material mistakes or misrepresentations” during its June advisory committee […]

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Investors push again for Allergan to make management changes

Shares of Dublin-based Allergan Plc AGN, +0.73% rose 0.8% on Tuesday morning after hedge-fund firms Appaloosa LP and Senator Investment Group reiterated their calls for the drug company to separate its CEO and chairman roles. The firms had previously asked the board to separate the roles in separate letters sent in April, May and June. The CEO and chairman roles […]

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PBMs will be all right after Trump administration proposal to curb drug rebates, analysts say

Shares of Cigna Corp. CI, -2.13% CVS Health Corp. CVS, -0.32% and UnitedHealth Group Inc. UNH, -0.60% were down Friday, reflecting investors’ anxiety about how the Trump administration’s proposal to eliminate billions of dollars in rebates would affect pharmacy-benefit managers. But health care analysts aren’t too worried. The proposal, announced Thursday by the U.S. Department of Health and Human Services, would eliminate […]

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