In the general news, President Obama made an historic visit to Cuba and put on the smiley face with Communist Dictator Raul Castro at a baseball game. This despite the fact that, hours earlier, Americans were killed in yet another ISIS attack in Brussels. In the states, Easter transpired without incident and Spring sprang.
In healthcare business news, the CEO of Valeant (VRX) was ousted and Bill Ackman joined the board (because he is such a genius at managing things?). Meanwhile, the former Sprout Pharma execs blamed VRX for charging too much as the reason for the dismal launch of the “pink pill” Addyi. Anthem (ANTM) sued their PBM partner Express Scripts (ESRX) for $15 B claiming that they failed to keep drug prices low enough.
From the FDA, Eli Lilly’s (LLY) new drug Taltz to treat psoriasis was approved. Now, a relatively rare, non-life-threatening, disorder of the skin and joints is costing the American healthcare system a significant chunk of the entire drug spending, as drugs like Humira, Enbrel, Stelara, Cimzia, Cosentyx, and Taltz command huge prices. Meanwhile, Amgen’s (AMGN) biosimilar to AbbVie’s (ABBV) Humira will be approved this year.