InnovationRx is a weekly digest of healthcare news, highlighting the current drug shortages in the United States, with 323 drugs experiencing shortages, including essential medications like chemotherapies, ADHD medications, and oxytocin. The pending bipartisan legislation known as the BIOSECURE Act may worsen these shortages as it could prevent American companies from working with key Chinese biotech contractors. This has led to a decline in stock prices for companies like WuXi AppTec and warnings from drug companies about potential manufacturing impacts and delays in clinical trials.
Supporters of the bill argue that it will improve competition and reduce reliance on China, citing past examples like the Huawei controversy in America’s telecom sector. However, the final outcome of the bill remains uncertain, prompting attorneys in the healthcare sector to advise clients to prepare for potential changes in pharmaceutical supply chains. The Biotechnology Innovation Organization has shifted its stance to support the legislation, emphasizing the need to develop policies that support both preventing shortages and promoting American manufacturing.
The success of weight loss drugs like Wegove and Ozempic has created a surge in demand for autoinjectors used by patients for weekly injections. This growth has propelled Roger Samuelsson, the Swedish cofounder of SHL Medical, to billionaire status with a $3 billion net worth. SHL Medical is a major manufacturer of autoinjectors and has seen significant financial gains due to the high demand for these devices.
In other news, Genentech released new data on its multiple sclerosis treatment ocrelizumab, Fujifilm Diosynth announced a $1.2 billion investment to expand its manufacturing facility, and Teva and Alvotech received FDA approval for a biosimilar to Stelara for psoriasis treatment. Researchers are also exploring a new vaccine method for infants that could offer continued protection with just a single dose, potentially paving the way for universal vaccines.
Additional healthcare news includes UnitedHealth Group facing significant financial impacts due to a cyberattack, promising results from Eli Lilly’s weight loss drug Zepbound, a statement from the EU’s drug regulator on diabetes and weight loss drugs, and clarifications from the CDC regarding Covid vaccines and heart problems in young people. The U.S. Supreme Court has allowed Idaho to enforce a ban on gender-affirming care for minors while laws are being appealed.
In Forbes, a story about a skydiving billionaire with high returns, TikTok mishandling data of American advertisers, and challenges facing the hype around green hydrogen are featured. Other notable articles include grocers proposing legislation to enhance food safety but facing backlash, AI advancements in tracing metastatic cancers, and new trials focused on treating Long Covid and clearing lingering virus in patients.
