| Amazon makes its second-ever health acquisition | | |  | FRI, OCT 25, 2019 | | | | Think a friend or colleague should be getting this newsletter? Share this link with them to sign up.
Biogen revived its experimental Alzheimer's drug, prompting both hope and skepticism. Amazon is diving further into health care with its second acquisition in the space. House Speaker Nancy Pelosi's drug pricing bill passed another hurdle this week, though Republicans are warning the legislation won't survive the Senate.
(Are there any stories we should be chasing? Email tips, ideas, suggestions to CNBC Health Editor Dawn Kopecki at dawn.kopecki@nbcuni.com.)
| | Biogen's big week | Biogen shocked everyone when it said its seemingly failed Alzheimer's drug was perhaps not such a failure after all. What did fail? The company's interim analysis that led it to stop development in the first place, CEO Michel Vounatsos told us on Squawk Box. The stock added back billions in value it had lost in March when Biogen stopped its clinical trials. Patients were elated, and the debate over whether amyloid plaques really do cause Alzheimer's revved up once again.
-Meg Tirrell | | | | Amazon makes its second-ever health acquisition | More than a year after Amazon acquired PillPack, it has scooped up Health Navigator, a company that specializes in helping patients navigate their care. Amazon confirmed the acquisition to CNBC, and noted that Health Navigator would join up with the Amazon Care service, which launched in September and provides virtual care for employee groups through video calls with home visits if needed. Health experts tell us the acquisition signals that Amazon Care could go mainstream.
-Christina Farr | | | | The opioid trial that wasn't | The jury was selected, the courtroom packed – but less than 10 minutes after it was scheduled to begin, the first federal trial over the opioid crisis was over: five of the six defendants reached a settlement with the two plaintiff Ohio counties. The story immediately shifted to focus on broader efforts to settle the more than 2,000 cases from cities, counties, states and others claiming drug companies and distributors spurred the epidemic. Teva's stock rallied when it said it had reached the framework of a deal with four state attorneys general, and an announcement including the three big drug distributors and Johnson & Johnson quickly followed. But it's not a done deal by any means: lawyers representing the plaintiff counties and cities told us they're not on board with the settlement terms, and not all states agree, either. Ohio's AG called it "a pile of lumber that's been dropped on the construction site."
-Meg Tirrell | | | | CMS Administrator Seema Verma on the Hill | This week Trump administration health officials walked a fine line on Obamacare — taking credit for the exchange market's stabilization while insisting the market is failing the unsubsidized middle class. But House Democrats put CMS Administrator Seema Verma on the defensive about one of her key initiatives under ACA: Medicaid work requirement waivers. Studies have pointed to loss of eligibility in GOP states which have adopted the new rules, and this week two big Medicaid players say the resulting membership churn has caused some medical costs to rise.
-Bertha Coombs | | | | House expected to vote on Pelosi's drug pricing bill next week | House Speaker Nancy Pelosi's sweeping drug pricing plan was approved by a third committee Tuesday night, sending the legislation to the full House floor for a vote expected next week. The bill has a high chance of approval in the Democratic-led House. But Republican members, who say the bill was highly partisan and rushed, warn the bill is dead on arrival in the Senate, where Majority Leader Mitch McConnell is certain not to take action on it. That may come as a relief to the pharma industry. The CBO says the measures in Pelosi's plan would immediately lower current and expected future revenues for drugmakers.
-Berkeley Lovelace Jr. | | @Work People + Machines
Technology, Talent and the Future of Work
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| | @Work People + Machines November 4, 2019
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