Drug companies move ahead with new medications
WHAT IT MEANS AND WHY IT’S IMPORTANT — The cardiovascular drug market will turn into a difficult conquest in the years to come as it increasingly will be dominated by generics, but that isn’t stopping drug companies from continuing to develop treatments — 299 of them, according to a recent report by the Pharmaceutical Research and Manufacturers of America — for high cholesterol, hypertension, atrial fibrillation, heart failure and other heart-related conditions. Indeed, with around 80 million Americans having cardiovascular disease, according to the American Heart Association, it’s a market that won’t disappear any time soon.
(THE NEWS: PhRMA: Nearly 300 preventive medicines for heart disease, stroke in development. For the full story, click here)
For a while now, drug industry experts have been playing the funeral dirge for the age of blockbuster drugs — those drugs that reach $1 billion or more in sales per year, often as a result of significant uptake due to their ability to treat widespread disease states. That’s especially true in the cardiovascular drug market, whose star performer, Pfizer’s cholesterol drug Lipitor (atorvastatin), will lose patent protection this year, knocking a hole in the more than $7 billion in annual U.S. sales that IMS Health attributes to the drug.
Nobody can say whether those 299 drugs in development include the next Lipitor, but a lot of them will soon be ready to hit the market. AstraZeneca announced Friday that the Food and Drug Administration hoped to finish its review of Brilinta (ticagrelor), for preventing acute coronary syndrome, by July 20.
A total of 16 regulatory applications seeking approval for new drugs or seeking approval for new uses of old drugs for treating heart disease have been submitted, according to PhRMA’s report. These include Gencaro (bucindolol), ARCA Biopharma’s treatment for genotype-defined heart failure that has received expedited review from the FDA; TAK-491 (azilsartan medoxomil), Takeda’s treatment for hypertension; and rivaroxaban, a drug for preventing stroke in patients with atrial fibrillation, thrombosis and embolism developed by Bayer and Johnson & Johnson. In addition, several drugs have recently finished phase-3 trials, such as GlaxoSmithKline’s Lovaza (omega-3 acid ethyl esters) for atrial fibrillation and a combination of irbesartan with amlodipine developed by Sanofi-Aventis for hypertension.
Restoring FSA OTC coverage: Better medicine for all
WHAT IT MEANS AND WHY IT’S IMPORTANT — As much as the Affordable Care Act was a tough pill to swallow for many conservatives, the flexible spending account changes may be the first piece of what many consider to be "bad medicine" to be reversed this year. Incentivizing self-care is better medicine for all constituents.
(THE NEWS: Report: Legislation restoring FSA OTC coverage is coming. For the full story, click here)
DSN has believed for some time that this would be the first piece of ObamaCare to tumble. Here’s why: It’s an easy give back to House Republicans looking for a full repeal, and it’s a show that the Democrats are willing to work with the other side of the aisle. As an aside, it also happens to be the right thing to do, for retailers, for consumer healthcare companies — oh yeah, and for consumers, too.
Requiring patients to obtain prescriptions for over-the-counter medications purchased with pre-tax dollars saves the U.S. government an estimated $9 billion. Conversely, that means Joe Public will be shelling out that much, if not more, on the Tylenol and Pepto-Bismol bought to help soothe the very headaches and upset stomachs caused by escalating healthcare costs. And it’s not just the consumer that’ll be spending more money. An analysis conducted by the Foundation for Healthsmart Consumers found that between doctor visits and retail pharmacies, healthcare costs associated with this provision could reach as high as $4.5 billion if even 10% of the population begins making additional appointments with their practitioners.
Despite confidence in economy, survey finds consumers not spending more this Valentine’s Day
LOS ANGELES — According to a PriceGrabber survey on consumer purchasing decisions for Valentine’s Day, 52% of Valentine’s Day shoppers indicated that the economy will not have any effect on their purchasing decisions for Valentine’s Day 2011. Despite their confidence in the economy, 78% of survey respondents indicated they will not spend more money on Valentine’s Day shopping this year compared with last year. The remaining 22% of consumers plan to spend more on Valentine’s Day shopping this year.
The most popular Valentine’s Day expense among women was greeting cards, with 62% of female Valentine’s Day shoppers planning to purchase greeting cards this year. Forty-two percent of female shoppers anticipated spending money on an evening out, and 26%will purchase candy.
For male survey respondents, the most popular Valentine’s Day expense was an evening out, selected by 53%. Forty-five percent of male respondents planned to spend money on greeting cards. Forty-five percent planned to spend money on flowers, while 18% anticipated spending money on candy this Valentine’s Day.
The PriceGrabber (a part of Experian) survey was conducted from Jan. 12 to Jan. 26 and polled 2,458 U.S. online consumers who planned to spend money on a Valentine’s Day celebration.