Healthcare Roundup – House Democrats release $3T coronavirus relief bill, Gilead inks deals to sell remdesivir in 127 countries

Published on: May 12, 2020
Author: Amy Liu

House Democrats release $3T coronavirus relief bill

The legislation includes $1T of relief for state and local governments, a second round of direct payments to Americans, $200B of hazard pay for essential workers facing increased health risks, an extension of enhanced unemployment benefits, and $175B in rent, mortgage, and utility assistance.

Also in the 1,800-page package: measures to help small businesses keep their employees on the payroll and subsidies; and a special Affordable Care Act enrollment period to people who lose their employer-sponsored health coverage.

If it passes the Democrat-controlled House, it’s likely to face opposition by Republicans in the Senate, who have played down the need to spend more federal funds on a rescue bill now.

The House is expected to vote on the plan on Friday; they also introduced a plan to allow proxy voting on legislation during the COVID-19 crisis.

Gilead inks deals to sell remdesivir in 127 countries

Gilead Sciences (GILD -1.2%) has out-licensed non-exclusive rights to antiviral remdesivir to India’s Jubilant Life Sciences allowing the latter to sell the drug in 127 countries including India.

Under the terms of the agreement, Jubilant may manufacture the med and scale up production.

Gilead previously disclosed that it was in talks with several generic drug firms in India and Pakistan to produce remdesivir for developing countries.

Update: The company says it has also inked non-exclusive licensing agreements with four other generic drug makers in India and Pakistan: Cipla, Ferozsons Laboratories, Hetero Labs and Mylan (MYL -2.2%) that apply to the same 127 countries.

UnitedHealth to reenter ACA game in Maryland

According to Maryland Governor Larry Hogan, UnitedHealth Group (UNH +1.3%) will resume selling Affordable Care Act (ACA) health plans in the state in 2021.

The company, along with many other insurers, exited most ACA marketplaces a few years ago because minimum coverage rules and premium limits made the policies unprofitable.

Galderma announces positive data on twice-yearly frown line treatment

Privately held Galderma announces the results from a 120-subject study, DREAM, assessing the safety and patient satisfaction of Dysport (abobotulinumtoxinA) for the temporary treatment of moderate-to-severe glabellar lines (frown lines) between the eyebrows in adults less than 65 years old.

Results showed that 95% of participants (90% female) were highly satisfied with the twice-yearly treatment schedule and 97% thought the treatment looked natural.

On the safety front, only one patient experienced a treatment-related adverse event (mild injection site bruising).

The FDA approved Dysport for the glabellar lines indication in April 2009, administered no more frequently than every three months.

Related tickers: AbbVie (NYSE:ABBV), Revance Therapeutics (NASDAQ:RVNC), Evolus (NASDAQ:EOLS)

Moderna vaccine Fast Track’d for COVID-19

As expected, the FDA has granted Fast Track status for Moderna’s (NASDAQ:MRNA) mRNA-1273, its mRNA vaccine candidate against SARS-CoV-2.

A Phase 2 study is next up. It will assess the safety, reactogenicity (adverse events) and immunogenicity of two vaccinations given 28 days apart in 600 healthy volunteers.

If all goes according to plan, a Phase 3 trial will launch in early summer.

Fast Track status provides for more frequent interaction with the FDA review team and a rolling review of the marketing application.

Shares up 2% premarket on robust volume.

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