Biden calls for insulin cap | CVS $10 billion deal | Abortion pill battle escalates

VIEW IN BROWSER | SUBSCRIBE Fri, Feb 10, 2023 EDITOR'S NOTE Think a friend or colleague should be getting this newsletter? Share this link with them to sign up.   President Joe Biden sought to look past the Covid pandemic in his State of the Union address this week, shifting his focus to other health-care priorities.    Biden touted the Medicare drug negotiation provisions of the Inflation Reduction Act. In his biggest call to action, the president challenged Congress to extend the $35 monthly price cap on insulin to all diabetes patients.    But the proposal has little chance of passing in a divided legislature. Even when Democrats controlled both chambers, Senate Republicans managed to kill a provision last summer that would have capped insulin prices for people on private insurance as well.    The pandemic was largely a footnote in Biden's speech, demonstrating how the administration's and the public's priorities have changed over the past year as the virus has become less disruptive.    Biden hailed the planned end of the Covid health emergency in May. The Health and Human Services Department, in a call Thursday, laid out what the public should expect when the declaration is lifted in the spring.    The president only briefly mentioned abortion, calling for Congress to codify Roe v. Wade. But a pending lawsuit in Texas that could potentially remove the abortion pill from the U.S. market dramatically escalated on Friday.    A New York led Democratic coalition and a Mississippi led Republican coalition filed dueling arguments in the case, setting the U.S. up for a national showdown over mifepristone in the coming weeks.   Join CNBC's Healthy Returns on March 29th, where we'll convene a virtual gathering of CEOs, scientists, investors and innovators in the health care space to reflect on the progress made today to reinvent the future of medicine. Plus, we'll have an exclusive rundown of the best investment opportunities in biopharma, health-tech and managed care. Learn more and register today: http://bit.ly/3DUNbRo   Feel free to send any tips, suggestions, story ideas and data to me at spencer.kimball@nbcuni.com. Spencer Kimball | Health Reporter @spencekimball Spencer Kimball | Health Reporter @spencekimball   Biden proposal to cap all insulin prices at $35 a month has little chance of passing Congress   President Joe Biden used the bully pulpit during the State of the Union address this week to call for a universal price cap on insulin for all diabetes patients but the proposal is very unlikely to pass the current Congress.   Biden's signature legislative achievement, the Inflation Reduction Act, has capped insulin prices for Medicare recipients at $35 per month but the law does not shield younger diabetes patients with private insurance or without insurance from higher prices.   "Let's finish the job this time. Let's cap the cost of insulin for everybody at $35," Biden told Congress Tuesday night. - Spencer Kimball   Democrat and Republican attorneys general square off over lawsuit seeking to pull abortion pill from U.S.   Democratic and Republican attorneys general squared off on Friday in dueling arguments over an attempt by anti-abortion physicians to pull the abortion pill, mifepristone, from the U.S. market.   New York led a coalition of 22 attorneys general who argued that pulling the pill, mifepristone, would have "devastating consequences" for women. Mississippi led 22 Republican attorneys general who argued that the Food and Drug Administration's approval of mifepristone is "deeply flawed."   The dueling court filings come in an escalating federal court battle in Texas over a lawsuit filed by anti-abortion physicians last November seeking to overturn the FDA's approval of mifepristone more than two decades ago. - Spencer Kimball  CVS lands $10.5 Billion Oak Street Health deal CVS Health CEO Karen Lynch has been on the hunt for primary care asset for over a year. "We were very comprehensive of our assessment of our primary care capabilities," Lynch told CNBC.   This week's $10.5 billion Oak Street Health deal fit the bill.  It comes after a $100 million equity investment in Carbon Health last month, to launch a primary care pilot in stores.   Analysts at Moody's say the new assets should will help CVS beef up its Medicare Advantage services and ultimately boost its plan star ratings, but it comes at a high price, given Oak Street currently generates losses. - Bertha Coombs   The Covid emergency in the U.S. ends May 11. HHS officials say here's what to expect   The Health and Human Services Department on Thursday laid out what will change and will remain the same when the three-year-long Covid public health emergency ends in May.   Health Secretary Xavier Becerra officially informed state governors on Thursday that he is renewing the declaration a final time but plans to let the emergency expire on May 11. The White House had already informed Congress of these plans last week.   HHS officials in a call with reporters laid out what the the public can expect when the emergency ends. - Spencer Kimball   U.S. plans to stop buying Covid shots for the public this fall. Here's what that means for you   The U.S. will stop buying Covid shots at a reduced price for the entire country and shift vaccine distribution to the private market as soon as early fall, shifting the cost to U.S. insurers and uninsured Americans who stand to lose access to the free vaccines.   Dr. Ashish Jha, the White House Covid response coordinator, said in an an interview with UCSF Department of Medicine on Thursday that the shift to a private market will happen over the summer or early fall, though no exact date has been set. - Spencer Kimball Novo Nordisk CEO says company focused on medical uses of obesity, diabetes drugs The Danish drugmaker's chief also said the company is investing billions of dollars into manufacturing to meet demand for Ozempic and Wegovy as interest in the medicines - both on-label and off-, has soared.   And he said increasing competition from Eli Lilly will only be good for the whole class. One thing he declined to touch, though, was "Ozempic face," the reported effect of the medicine some users experience that leaves their faces looking aged and gaunt after rapid weight loss.   He said the more common side effects are GI-related. - Meg Tirrell JOIN US REGISTER CONTRIBUTORS Bertha Coombs @berthacoombs Meg Tirrell @megtirrell Bertha Coombs @berthacoombs Meg Tirrell @megtirrell Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel   Digital Products Feedback Privacy Policy CNBC Events   © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS