STAT+: Pharmalittle: Life sciences deals on track to hit lowest point since 2017; EU regulators order Illumina to divest Grail
Both the number of deals and the amount of money being invested in life science companies are down significantly this year.
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European regulators detailed their demands that Illumina divest the cancer diagnostics firm Grail, the latest fallout from the sequencing giant’s troubled 2021 acquisition, STAT writes. The move was just the most recent regulatory action against the deal. The European Commission in September 2022 ruled that the purchase violated antitrust rules, and the new order spelled out how the commission thought the deal should be unraveled. In July the commission also fined Illumina $460 million for closing the $8 billion deal before getting antitrust clearance. Illumina has appealed the previous ruling and the fine, and is reviewing the latest order.
Anticipation may be high that Medicare can wring lower prices out of drugmakers, but a handful of states are moving aggressively to slash costs for their residents, a clear sign the battle over affordable medicines in the U.S. is only going to escalate further, STAT explains. These efforts involve Prescription Drug Affordability Boards, which are designed to function like a rate-setting authority. How so? Most boards seek to set upper payment limits, or ceilings, used for determining prices that are paid for medicines. And in some states, the plan is to set prices paid not just by state and local governments, but also by commercial health plans operating there.
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