#17 • A Healthy Dose of Healthcare News • February 5, 2021
Aside from a $1.9 trillion coronavirus relief package going around Congress, this week’s healthcare news stories were somewhat less exciting than they have been in recent times — no complaints! No news is good news. Several confirmation hearings were held for key healthcare positions, so that should be coming down the pike shortly.
In this edition, you will read about #17.1. McKinsey’s huge opioid crisis-related settlement, #17.2. the latest on the COVID-19 vaccine, #17.3. a new CEO at Merck, #17.4. the AHA complaining to the FTC, and #17.5. a slow vaccine rollout in Europe.
#17.1. OPIOID CRISIS: McKinsey to pay $573M for role in opioid crisis (Associated Press)
McKinsey advised Purdue Pharma, manufacturer of OxyContin, over a period of 15 years, coinciding with rapidly-rising opioid-related death rates. The consulting firm recommended that Purdue “supercharge” the sale of the drug during the opioid crisis. The settlement will be sent to the states and used to combat the crisis, including through treatment, recovery, and prevention. McKinsey doesn’t admit to misconduct. Meanwhile, Purdue is in bankruptcy court as it deals with the many lawsuits brought against it.
#17.2. COVID-19 VACCINE: A Pot Pourri
- Switzerland Declines To Approve AstraZeneca COVID-19 Vaccine (Yahoo Finance)
Switzerland’s drug approval authorities say that more studies are needed to confirm the vaccine’s safety, efficacy, and quality. Switzerland has approved the Pfizer-BioTech and Moderna vaccines, and it is rushing to strike deals with vaccine manufacturers such as Novavax and Curevac. The AstraZeneca vaccine is in use in the United Kingdom and the European Union.
- AstraZeneca vaccine effective against UK variant: Oxford University (Medical Xpress)
Researchers at Oxford say that the AstraZeneca vaccine that they are helping to develop is effective against the British strain of COVID-19. Non-Oxford studies may be necessary to certify this result.
Johnson & Johnson’s vaccine is single-shot. It’s also much easier to store, as it can remain stable in a standard refrigerator for months. If approved, 100 million doses should be available by the middle of the year.
#17.3. PHARMA EXEC: Kenneth Frazier stepping down as Merck CEO, becomes executive chairman (USA Today)
Frazier has been chairman and CEO of Merck since 2011. The current CFO, Robert Davis, is stepping into the role at the end of June. “Under his leadership, the company delivered Keytruda, a cancer drug that made up more than one-third of Merck’s pharmaceutical revenue in 2020.” “Trump said Frazier had been an obstacle to lowering drug prices, a goal that has drawn bipartisan political support in Washington.”
#17.4. LOBBYING: AHA presses FTC to investigate UnitedHealth lab coverage policy, price hikes for travel nurses (Fierce Healthcare)
The American Hospital Association is unhappy with the insurance giant’s decision to stop covering lab tests unless they are conducted via their newly-created Designated Diagnostic Provider program. It also wants clarifications on increased rates for travel nurses during the pandemic. “The AHA’s letter to the FTC Thursday comes nearly a month after the agency announced a study into the impact of physician group and healthcare facility consolidation and is seeking data from six major insurers including UnitedHealthcare.”
#17.5. EUROPE: EU leaders begin to feel heat over slow Covid vaccine rollout (The Guardian)
Europe’s vaccine distribution rate (3%) is behind the UK (15%), US (10%), and Israel (a whopping 59%), among others. German Chancellor Angela Merkel and French President Emmanuel Macron both defended the collective strategy adopted by Europe, saying that a slow but collective distribution was right. They chose to carefully negotiate deals with the manufacturers, emphasizing questions of cost and liability instead of prioritizing speed.
Previous editions of A Healthy Dose of Healthcare News here.
