Top of the morning to you. The middle of the week is upon us and, since you made it this far, why not forge ahead? After all, there is always light at the end of the proverbial tunnel. You never know what you may accomplish. So please join us as we celebrate this notion with a cup or three of delicious stimulation. Our choice today is chocolate cappuccino. As always, please feel free to join us. Meanwhile, we have assembled the latest menu of tidbits to help you proceed on your journey. So please dig in. Have a smashing day, and do forward any secrets you come across. Our “in basket” is always open. …
A Medicare official hinted the program might test a policy of paying less for drugs that receive so-called accelerated approvals than for medicines that are granted traditional approvals, STAT tells us. The U.S. Food and Drug Administration uses accelerated approvals to make promising drugs for serious conditions available to patients sooner. The program is widely considered a success and has worked well for many drugs, but not all work out. Accelerated approvals were withdrawn for about 12% of drugs as of the end of 2021. Medicare officials may consider requiring drugmakers pay extra rebates to the government until accelerated approval drugs receive full approval.
Pfizer expects revenue to drop by as much as a third in 2023 as demand for its Covid-19 vaccine and treatment declines and countries adjust to a new phase of managing the virus, The Wall Street Journal says. The company is projecting revenue this year of between $67 billion and $71 billion, falling from approximately $100 billion last year, a record high for the drugmaker. Stripping out Covid-19 products, Pfizer expects its overall 2023 revenue to grow 7% to 9%, while revenue from Covid-19 products is expected to reach a low point this year due to a significant government stockpile on hand and then rebound in 2024.
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