Author: Peter

Kris Engelstad McGarry has made no secret of her difficult relationship with the Nevada System of Higher Education’s Board of Regents...“It’s probably the only time you’ll hear me say this, but I have the regents to thank for it,” McGarry, trustee of the Engelstad Foundation...said. “Had they not been so difficult, we would never have found the necessity to go ahead and...do it on our own.”...The Nevada Health and Bioscience Corporation was established in 2019...The approximately 135,000-square-foot building, on Shadow Lane in Las Vegas...is ahead of schedule and expected to open in June 2022...A notable result of the new process has been a faster process without bureaucracy...“It was wonderful to work with the corporation because they could make decisions, and make them quickly and move quickly,” Atkinson, the former dean, said. “They did all the same things that the state would have done, but the state would have taken much longer to actually get it all accomplished...“I don’t think anybody but a private corporation could have actually incorporated it all and got it done so quickly,” she added...READ MORE

A former Immunomedics executive was charged with tipping his partner and several relatives of confidential information that the biotech's then-experimental breast cancer drug had succeeded in a clinical trial, according to a suit filed by the Securities and Exchange Commission in New Jersey district court...Usama Malik, Immunomedics' chief financial officer from 2017 until late 2020, learned the drug, now sold as Trodelvy, benefited patients in the late-stage study. Within hours of being told of the trial's success, the SEC charges said, Malik relayed the news to his former girlfriend Lauren Wood and three relatives, who subsequently bought shares in Immunomedics before the results were disclosed publicly...READMORE

...Gov. Steve Sisolak delivered a bouquet of flowers to Las Vegas nurse practitioner Geoconda Hughes...In this manner, the governor launched a slate of events during what he called “Health Care Week in Nevada” aimed at recognizing Nevadans who work in medicine and raising community awareness of their efforts. The events also provide an opportunity, he said, to learn more about the problems facing health care workers and possible solutions to their workplace challenges...READ MORE

With a crucial drug in the state’s supply of lethal injection materials set to expire at the end of February, Nevada officials are pressing forward in their attempt to execute death row inmate Zane Floyd, even as lawyers for Floyd are imploring the court to explore alternative methods, such as a firing squad...The experts, including multiple anesthesiologists who have experience with the drugs involved in the protocol, testified that the untried drug cocktail could result in suffering or an agonizing death...READ MORE

The Biden administration is doling out $30 million in unprecedented grants aimed at harm reduction strategies to combat opioid abuse, including funding for needle exchanges and fentanyl test strips..The Substance Abuse and Mental Health Services Administration announced...it is accepting applications for the harm reduction grant program, including from primary care and other types of providers. The announcement comes more than a month after recent data showed more than 100,000 people died of a drug overdose over a 12-month period...READ MORE

...CVS Health recently announced that it will close about 900 of its retail pharmacies. This downsizing complements the company’s shift toward its healthcare delivery future...This long-overdue move highlights the retail industry’s fundamental economic headwinds. The pharmacy shakeout is accelerating, as smaller competitors exit and larger companies reduce store count...Retail pharmacies are experiencing a period of intense competition that continues to pressure prescription profits. After years of stability, the number of U.S. pharmacy locations across all formats is trending downward...READ MORE

Here are 10 key forces behind deteriorating retail pharmacy industry margins:

1) Slow retail prescription growth and intense competition for consumers.

2) Low generic drug prices.

3) Slower growth in brand-name drug list prices.

4) Limited exposure to the dispensing of specialty drugs.

5) Reduced margins from participating in payers’ narrow retail pharmacy networks.

6) Lower reimbursement and store traffic from 90-day maintenance prescriptions.

7) Rapid growth in direct and indirect (DIR) remuneration rebates.

8) Retail pharmacy’s cost structure.

9) Growing competition from technology-enabled online pharmacies.

10) Potential Policy Changes.

CVS Health will invest $7.7 million with Raymond James Tax Credit Funds to build a 61 unit multifamily apartment home development called Uptown Sky in Tampa, Fla...As part of its commitment to address racial inequity and social determinants of health in underserved communities, CVS Health will invest $7.7 million with Raymond James Tax Credit Funds to build a 61 unit multifamily apartment home development...READ MORE

A Nevada jury has awarded TeamHealth $60 million in punitive damages as part of an ongoing legal spat between the physician staffing firm and health insurance giant UnitedHealthcare... jury ruled late last month that the insurer underpaid emergency physicians at three TeamHealth affiliates in the state and at the time awarded $2.65 million in compensatory damages...Nine additional, similar lawsuits are pending in other states, and TeamHealth is expecting the Nevada results to drive momentum in those other cases...“Today’s ruling that United must pay $60 million in punitive damages sets a critical precedent that large health insurers can’t underpay frontline doctors for lifesaving care,” said TeamHealth President and CEO Leif Murphy in a statement. “We look forward to continuing the fight against United in nine future cases that will be decided on the same set of facts.”...

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A rush of vaccine-seeking customers and staff shortages are squeezing drugstores around the U.S., leading to frazzled workers and temporary pharmacy closures...And pharmacists worry another job might soon be added to their to-do list: If regulators approve antiviral pills from drugmakers Merck and Pfizer to treat COVID-19, pharmacists may be able to diagnose infections and then prescribe pills to customers...“There’s crazy increased demand on pharmacies right now,” said Theresa Tolle, an independent pharmacist who has seen COVID-19 vaccine demand quadruple since the summer at her Sebastian, Florida, store...READ MORE

UCB became the latest pharmaceutical manufacturer to restrict selling products discounted under the 340B program to contract pharmacies despite ongoing efforts by the federal government to fine other companies that have made similar moves...The decision comes as the federal government and six other drugmakers are battling in court over the ability to cut off access to contract pharmacies, which are third parties that dispense 340B drugs on the covered entity’s behalf...340B advocates blasted the move by UCB, which is the ninth drugmaker to cut off access...READ MORE