By a 230-192 margin, the U.S. House of Representatives has passed legislation, championed by Speaker Nancy Pelosi, aimed at corralling spiralling drug costs.
The bill’s key provision would allow the feds to negotiate prices for expensive drugs that lack competition. A minimum of 50 medicines each year would be subject to talks.
A last-minute addition was a feasibility study to extend rebates for drug prices that increase faster than inflation to employer-sponsored coverage.
The bill has almost no chance to pass in the Republican-controlled Senate, however.
U.S. Health and Human Services unit BARDA has awarded the second tranche of its contract with Opiant Pharmaceuticals (NASDAQ:OPNT), valued at ~$2.4M, to accelerate the development of nasal nalmefene for the potential treatment of opioid overdose.
The total agreement is valued up to a maximum of ~$4.6M, the balance to be funded next year.
The company expects to file a U.S. marketing application in Q4 2020.
Roche (OTCQX:RHHBY) has signed a joint marketing agreement with Fortelinea Software Systems that allows for the linking of Roche’s VENTANA Connect middleware with Fortelinea’s Prima lab tracking and management system to improve workflow for automated immunohistochemistry (IHC) and in-situ hybridization (ISH) testing in U.S. research laboratories.
The agreement enables U.S. labs with Prima software and Roche’s DISCOVERY ULTRA system to utilize one barcode across both platforms, allowing standardized slide labeling and streamlining data transfer and integration with the laboratory information system.
NextGen Healthcare (NASDAQ:NXGN) announces an agreement to acquire OTTO Health.
The acquisition is expected to close in December 2019.
Financial details are not disclosed.
Nano cap Assertio Therapeutics (NASDAQ:ASRT) is up 40% premarket on average volume in reaction to it planned sale of Gralise (gabapentin) to Alvogen for $127.5M, consisting of $75M in upfront cash and a royalty on the first $70M of net sales (majority will be paid in year 1).
Gralise was approved in the U.S. in January 2011 for post-herpetic neuralgia (shingles-related pain). It accounted for 54% of the company’s Q3 product sales ($14.9M/27.5M).
