Trending News Today: Manufacturer to Discount Insulin List Prices
Top news of the day from across the health care landscape.
Yesterday, President Barack Obama signed the 21st Century Cures Act, a $6.3 billion bill for multiple health care initiatives, USA Today reported. The signing is likely the last one of President Obama’s 8-year presidency, and was a personal project for Vice President Joseph Biden and the Cancer Moonshot program. The bill previously passed the House of Representatives by a vote of 392 to 26 and the Senate by a vote of 94 to 5, according to USA Today. “We’re tackling cancer, brain disease, substance abuse disorders, and more, and none of this would have been possible without bipartisan cooperation from both houses of congress,” President Obama said in the report.
As insulin prices continue to soar, Eli Lilly & Co said it would discount the list prices of its insulin brands by as much as 40% for uninsured patients and others paying largely out-of-pocket. According to The Wall Street Journal, the announcement came after an outcry over the soaring prices of diabetes treatments sold by Lilly and its competitors. This price drop is the latest sign that some drug manufacturers are bowing to public pressure to lower drug costs, the Journal reported.
Sanofi SA is in talks for an acquisition deal with Actelion Pharmaceuticals Ltd, according to The Wall Street Journal. It remains unclear how much Sanofi is discussing to pay or what structure is envisioned, but individuals familiar with the matter said the deal could value Actelion at as much as $30 billion. Additionally, Johnson & Johnson has abandoned its pursuit of the Swiss drug company, reported the Journal.