Hello there from STAT reporter Andrew Joseph, filling in for Mr. Pharmalot for the day. It’s a dreary Wednesday afternoon here at STAT’s London outpost, but we hope the outlook is a bit brighter wherever you are. We remain in denial as we feel a bit of crispness in the air, but the seasons — just like the headlines — can’t be stopped. …
Gilead Sciences, the largest maker of HIV medicines, is seeking to boost prices significantly for several treatments that are widely distributed by state AIDS Drug Assistance Programs, STAT reports. The move is adding to financial uncertainty for the programs on top of concerns prompted by Trump administration funding cuts. A proposal from the company to raise prices in the high-single digits, on average, as part of a new agreement has unnerved ADAP directors, who are still negotiating with the company. A Gilead spokesperson said that the company offers “substantial discounts that help ensure affordability and continuity of care for underserved populations to access the medicines they need.”
Swiss drugmaker Novartis has signed a licensing deal worth up to $5.2 billion with Argo Biopharmaceutical for its experimental cardiovascular drugs, the China-based biotech said, according to Reuters. The deal includes an experimental genetic medicine in mid-stage study to control high blood fat levels and an option to license two drug candidates for high levels of certain blood cholesterols, which increase the risk of heart disease. The pact is the latest between a large pharma company and a Chinese biotech for the rights to its experimental medicines.
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