Xconomy

FEBRUARY 7, 2020

The president’s State of the Union address was wide-ranging, as they tend to be, but those who tuned in heard mention of two hot health policy topics: price transparency and drug pricing reform.

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Xconomy

FEBRUARY 12, 2018

He vowed during last month’s State of the Union speech that drug prices “will come down.” ” Today, his administration’s fiscal 2019 budget proposal laid out what it calls a “comprehensive” strategy to lower drug prices.

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Xconomy

SEPTEMBER 19, 2019

With the 2020 election just over a year away, House Speaker Nancy Pelosi (D-CA) has unveiled the Democratic Party’s answer to public discontent over high prescription drug prices. A preview of the plan was leaked last week. Today’s announcement doesn’t stray far. The new plan would have the U.S.

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Xconomy

MARCH 13, 2019

drug-pricing system seems ever more likely. Replacements for those rebates, however, could have unintended consequences, says a nonprofit watchdog group that in the past decade has been a key amplifier of the drug-price debate. With public and political winds blowing in the same direction, significant reform of the complicated U.S.

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Xconomy

FEBRUARY 26, 2019

Seven top pharmaceutical executives gathered today in Washington, DC, for a Senate hearing on drug prices, bringing face-to-face two groups held in the lowest esteem possible by the American public. By the end of the highly anticipated grilling before the Senate’s finance committee, their strategy for taking on two major.

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Xconomy

AUGUST 11, 2020

The larger company agreed to pay $12 per share for Pfenex (NYSE American: PFNX )—a 57 percent premium to its closing price Monday. San Diego-based Ligand (NASDAQ: LGND ) generates revenue from licensing deals and royalties paid by pharmaceutical companies that use technologies it develops or acquires for their own drug research.

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Xconomy

JUNE 1, 2018

In setting a price thousands of dollars less than expected, Amgen has won over one of the pharmaceutical industry’s fiercest drug price critics. As Amgen approached an FDA decision last month for its migraine-prevention treatment , concern mounted that the drug would come at premium. After the FDA approved erenumab last.

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Xconomy

OCTOBER 19, 2018

Two new battlegrounds emerged this week in the nation’s ongoing drug pricing debate. The first involved television: The federal government hopes that blaring prices in TV ads will essentially pressure drug makers into lowering them, and the pharma lobby fired back.

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Xconomy

FEBRUARY 7, 2019

Gossamer Bio, the San Diego-based biotech founded by former Receptos executives, has raised $276 million in its initial public offering, a total that puts it in a rare class among biotechs that have gone public in recent years. The amount raised surpassed expectations. Read more » Reprints | Share: UNDERWRITERS AND PARTNERS.

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Xconomy

OCTOBER 24, 2018

Amgen is cutting the list price of its new cholesterol-lowering drug by nearly 60 percent, a move the company says is intended to make the product more affordable for more patients. The Tarrytown, NY firm recently offered significant price cuts to insurance companies that help boost access to its rival medicine alirocumab (Praluent).

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Xconomy

MAY 18, 2018

There’s nothing abstract about a 20 percent jump in a company’s stock price. We also have the latest on the Trump administration’s finger-wagging attempts to rein in drug prices; a raft. It’s even worth asking whether they’re worth writing about at all. Read more » Reprints | Share:

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Xconomy

JULY 13, 2018

Drug price changes typically happen either at the start of the calendar year or the beginning of the third quarter. Such changes are routine for many companies, but Pfizer took an unusual step this week by rolling back scheduled price increases on 40 of its drugs. In May, Trump and. Read more » Reprints | Share:

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Xconomy

JANUARY 29, 2019

closing price on Monday. In return, San Diego-based Neurocrine will gain rights to Voyager’s. Neurocrine (NASDAQ: NBIX ) has agreed to pay Voyager (NASDAQ: VYGR ) $115 million in cash and buy $50 million worth of the Cambridge, MA, company’s shares at $11.96 apiece—a roughly 50 percent premium to its $8.04

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Xconomy

JULY 20, 2018

After nearly two years of all smoke, no fire around President Trump’s promise to curtail drug prices, there’s finally some glimmer of action. Pfizer said last week it would halt its price hikes, and Novartis and Merck took similar actions this week.

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Xconomy

JULY 8, 2020

Dave Johnson has known UC San Diego physician and cancer reseacher Thomas Kipps for nearly 20 years.

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Xconomy

MARCH 10, 2018

And in an unusual move, Regeneron—based on input from the nonprofit drug-pricing watchdog, the Institute for Clinical and Economic Review (ICER)—vows to cut the cost of the drug if it can get certain concessions from insurers. Regeneron and Amgen, which makes a competing drug, have struggled mightily to get payers to cover.

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Xconomy

AUGUST 2, 2019

Investors, however, buoyed the company’s share price this week after Acadia (NASDAQ: ACAD ) announced it anticipated that sales of Nuplazid, its sole commercial drug, Read more » Reprints | Share: UNDERWRITERS AND PARTNERS.

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Xconomy

JANUARY 10, 2020

Signatories agreed to what they dubbed a New Commitment to Patients, a list of “core principals and actions” promising that “pricing of our medicines at launch will reflect innovation and value to patients” and “any price increases on our medicines must be reasonable and guided by the need for uninterrupted patient access.”

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Xconomy

JULY 2, 2018

A paper published last week in the journal JAMA Oncology makes the case that one such test, Oncotype DX AR-V7 Nucleus Detect, might be worth its $3,980 price tag. Earlier this year, the federal insurance program Medicare sent positive signals about coverage but hasn’t made a final decision.)

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Xconomy

SEPTEMBER 19, 2016

Amid the hue and cry over the Mylan EpiPen pricing debacle , Hillary Clinton unveiled her “ Plan to Respond to Unjustified Price Hikes for Long-Available Drugs. ” Clinton’s plan calls for “dedicated oversight to protect consumers.” That dependence on price increases won’t change any time soon.

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Xconomy

JUNE 26, 2018

When President Trump signed legislation last month allowing seriously ill patients the “right to try” unapproved drugs without FDA oversight, he voiced a bold prediction: Within two weeks, he said, drug companies would announce “voluntary massive drops in prices.” Read more » Reprints | Share: UNDERWRITERS AND PARTNERS.

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Xconomy

OCTOBER 17, 2017

In advance of an anticipated Senate hearing on drug prices, President Donald Trump once again denounced drug companies as “getting away with murder.” He also said at the time that “we’re going to start bidding,” a reference to Medicare’s inability to negotiate drug prices.

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Xconomy

DECEMBER 28, 2016

But as expected, the drug, from Biogen and Ionis Pharmaceuticals, is a costly one, priced at the high end of the six figure price tags often given to treatments for rare diseases with no alternative treatments. The per-injection price translates into $750,000 for.

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Xconomy

AUGUST 17, 2018

We also saw a new biotech emerge in the muggy New York heat, a couple deals for new flu vaccines, and interesting developments in the complicated world of drug pricing. Both were landmarks for the companies receiving the nod, Alnylam Pharmaceuticals and Amicus Therapeutics. It’s hot out there. Stay cool with the roundup.

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Xconomy

APRIL 17, 2019

Turning Point Therapeutics raised more than $166 million in its IPO, pricing at the top of its range and putting nearly 2 million more shares into the public markets than it had initially planned. million shares at $18 apiece, raising $166.5 million before discounts, commissions, and offering expenses.

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Xconomy

NOVEMBER 29, 2017

If Wednesday’s hearing for Health and Human Services Secretary Nominee Alex Azar is any indication, reining in drug prices and insurance premiums are the policy priorities that will guide Congress’s interaction with the department under a new leader. Read more » Reprints | Share: UNDERWRITERS AND PARTNERS.

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Xconomy

JANUARY 31, 2019

The San Diego startup, which made it public debut about a year ago with $100 million in backing and has since raised $230 million more, used a regulation that would allow it to go public at a fixed share price and without the SEC’s review of its prospectus. Gossamer first.

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Xconomy

JULY 31, 2020

The biotech IPO market is buzzing but Cerevel Therapeutics is showing that there’s more than one path to the public markets. This week the neuroscience drug developer reached a deal to merge with publicly traded Arya Sciences Acquisition Corp II.

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Xconomy

JANUARY 11, 2019

[ Editor’s note: Ben Fidler and Sarah de Crescenzo coauthored this report.] It is here, and then it is gone. But by the time everyone staggers to the airport or back home to sleep in their own beds, the annual few days of the J.P.

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Xconomy

NOVEMBER 19, 2018

The San Diego-based biotech set a preliminary $100 million target for its IPO in documents filed with securities regulators Friday. That figure will change as the company determines how many shares it will sell and at what price. Cibus has applied for a listing on the Nasdaq exchange under the stock symbol “CBUS.”

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Xconomy

APRIL 26, 2019

The road to every new drug approval is littered with the remains of earlier failures. Biopharmaceutical companies don’t like to talk about the failures. But it’s earnings season now, so some of them don’t have much choice.

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Xconomy

JULY 14, 2017

Akcea Therapeutics is joining the parade of biotechs going public, but the company had to cut its stock price and sell more shares in order to pull it off. But the biotech priced its offering of 15.6 Cambridge, MA-based Akcea had planned on raising $125 million from the initial public offering, and it hit that target.

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Xconomy

APRIL 13, 2017

San Diego-based Tocagen (NASDAQ: TOCA ) priced its offering of 8.5 million shares priced between $10 to $12 each. Tocagen raised $85 million in its stock market debut today, and underwriters saw enough demand to increase the number of shares in the initial public offering. million shares at $10 per share.

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Xconomy

FEBRUARY 4, 2019

Battery-technology business Maxwell Technologies has agreed to be acquired by Silicon Valley electric car company Tesla (NASDAQ: TSLA ) in an all-stock deal valued at about $218 million, the San Diego-based company announced Monday. apiece, a 55 percent premium over its stock price as of market close Feb.

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Xconomy

JANUARY 20, 2017

Trump’s nominee to run the $1 trillion Health and Human Services Department, Tom Price, answered—or didn’t answer—many of those questions in a Senate hearing Wednesday.

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Xconomy

JANUARY 11, 2017

The firm acknowledged price hikes on several drugs that stayed—sometimes barely—under the 10 percent limit that CEO Brent Saunders pledged last September, in what he called a “ social contract with patients.” The first test of pharmaceutical giant Allergan’s promise to behave responsibly came last week.

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Xconomy

DECEMBER 10, 2018

ASG Technologies, the Florida-based software company backed by activist hedge fund Elliott Management, has upped its offer for San Diego’s Mitek Systems to $11.50 The stock price of Mitek (NASDAQ:MITK) rose nearly 9 percent on the news, closing at $9.75. per share from $10 apiece. That’s according to a Nov.

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