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Nicole Grassano, PTNN, Pharmacy Week in Review, this weekly video program provides our readers with an in-depth review of the latest news, product approvals, FDA rulings and more.

Eli Lilly rolled out an $850 million investment plan for the U.S. two years ago, with a chunk of that earmarked for its hometown. But one of those Indianapolis building projects is getting some pushback now, thanks to a local tax break...Despite objections from some local lawmakers, the Indianapolis City-County Council approved a $7 million abatement for Eli Lilly's $91 million expansion project...It was at least the second local tax break Lilly has won in the last few years...Council has approved the statement of benefits from @EliLillyCo, which has applied for tax abatement for real and personal property located in an economic revitalization area...Several Democrats and Republicans voted against the deal...Zach Adamson, a Democrat on the council, said it’s the “second or third” abatement “where the city is not seeing any direct benefit,”...READ MORE

Drug manufacturers earned an average of $1.58 in profit for every $1 they spent on the production and administration of diabetes drugs in 2017, according to a report released by the Nevada Department of Health and Human Services...But the diabetes drug report...found wide variations in the profitability of drugs used to treat diabetes based on data provided by manufacturers to the state. Although some drug companies reported losses, 69 percent reported of manufacturer reports indicated profits greater than the combined cost of production and administrative expenditures, including some with profits more than 20 times combined costs...The long-awaited report comes nearly two years after lawmakers passed a bill requiring manufacturers of diabetes drugs and PBMs to submit annual reports to the state detailing the costs associated with those drugs and explaining any price increases. The first report based on that information was initially slated to be released in September...READ MORE

Norman Sharpless, director of the National Cancer Institute in Bethesda, Maryland, will become acting administrator of the U.S. Food and Drug Administration...after current FDA chief Scott Gottlieb steps down in early April...The highly regarded Gottlieb reportedly recommended Sharpless as his replacement. He tweeted today: “I’m delighted by the announcement from @SecAzar that @NCIDirector will serve as acting commissioner of #FDA. Ned is a friend to FDA, a great public health champion, a dedicated physician, and will be warmly welcomed into his new role. FDA will benefit greatly from his leadership.”...READ MORE

Select CVS locations in California and seven other states are now selling hemp-derived CBD products...The national drugstore chain will be marketing the topical cannabidiol products as “an alternative source of relief,” CVS said in a statement to NBC News. The chain also will be partnering with another company to test and verify the quality of the CBD topicals sold in 800 drugstores at this point...READ MORE

Comedian and former late night host Jay Leno isn’t laughing about his cholesterol numbers. But he is using humor to get the message across in an awareness campaign with Amgen that focuses on the dangers of high cholesterol...The new campaign, “Cholesterol 911,” looks to sound the alarm with digital and social media creative combining Leno’s love of cars, his personal cholesterol concerns and a dash of humor. The 911 theme is an effort “to bring urgency to this message and help people avoid an emergency situation,”...READ MORE

Jaime Rosenberg, welcome to This Week in Managed Care from the Managed Markets News Network

Canada will create a national drug agency to help cut the cost of prescription medications as part of a plan to broaden the state-funded healthcare program, the finance ministry said in its budget...Unlike other countries with universal healthcare, Canada does not cover prescription drugs, leaving most Canadians to rely on a mixture of public and private insurance plans...Prescription drug spending in Canada has jumped to C$33.7 billion ($25.3 billion) in 2018 from C$2.6 billion in 1985 and a promise to boost drug coverage is set to be a major plank for the ruling Liberals in an election this October...The new Canada Drug Agency would “take a coordinated approach to assessing effectiveness and negotiating prescription drug prices,” which could help lower the cost of medications by up to C$3 billion a year in the long term...READ MORE