Cervantes Corp Ltd

UnitedHealth Group and CVS Health seek FTC Chair Lina Khan and two commissioners' recusal from PBM lawsuit due to alleged bias. The FTC sued the three largest PBMs in September for anticompetitive practices and insulin price inflation.

The FDA authorized the first at-home COVID and flu combination test, Healgen Rapid Check, for non-prescription use. This De Novo authorization allows broader market access and more consumer choices. The test correctly identified 99% of negative and 92% of positive COVID samples, with similar accuracy for flu strains. Available by Thanksgiving, priced at $13-$16, it will be sold through CVS, Amazon, and other retailers.

Quantum BioPharma Ltd. updates on Celly Nutrition Corp.'s launch of unbuzzd™, a scientifically formulated beverage to support alcohol metabolism and alertness. Celly Nu, led by CEO John Duffy, signed a Master Distribution Agreement with FUSION Distribution Group for distribution across Puerto Rico, the Caribbean, and parts of Central and South America. unbuzzd™ is available on Amazon and will soon be in RTD 12oz cans, expanding through FUSION's network to major retailers.

Blue Shield of California cuts Humira cost to $525/dose by bypassing PBMs, offering biosimilar at $0 co-pay from Jan 2025. This model aims to maximize consumer benefits over profit, with potential expansion to other drugs.

FDA approves 420 mg strength of Hercessi (trastuzumab-strf) biosimilar; UnitedHealth to remove Humira from preferred drug lists in favor of biosimilars; Evernorth offers interchangeable ustekinumab biosimilar at no cost; Samsung Bioepis receives positive opinion for aflibercept biosimilar.

Over 80% of consumers believe prescription drug costs are too high, yet only 25% understand the inflationary role of PBMs. PBMs, originally claims processors, have evolved into profit-driven entities that increase costs, driving independent pharmacies out of business and leaving patients with higher out-of-pocket expenses. Bipartisan legislation aims to address these issues, but progress is slow, leaving patients and independent pharmacists at a disadvantage.

The FTC sued CVS, Cigna, and UnitedHealth for allegedly manipulating insulin prices through rebate practices, raising questions about the impact on consumers and the FTC's decision not to sue drug manufacturers. The complaint merges 'unfair methods of competition' and 'unfair acts and practices,' a rare move, and the FTC's focus on list prices may complicate proving consumer harm. The FTC's decision to publicly express concerns about manufacturers without suing them could strain future cooperation.

Pharma companies face challenges entering beauty due to differences in marketing, storytelling, and sensorial focus. The high revenue multiples and exclusivity of pharma drugs make entering beauty less enticing. Johnson & Johnson's sale of Kenvue exemplifies pharma's preference for splitting over merging with beauty. Smaller biotech companies are seen as disruptors in the beauty industry. The convergence of beauty and pharma concepts offers benefits like enhanced product efficacy and credibility but also faces challenges like complex regulatory environments and higher costs. The future may see pharma driving innovation in beauty through novel molecules and sustainable alternatives, potentially leading to a true convergence between the two industries.

Walgreens continues clinical trials focus, signing deal with Freenome Holdings Inc. for early cancer detection studies, while CVS exits the sector. Walgreens has received interest from companies previously partnered with CVS.