Good morning, everyone, and welcome to another working week. We hope the weekend respite — which was extended for a holiday on our side of the pond — was relaxing and invigorating, because that oh-so predictable routine of online meetings, phone calls, and deadlines has returned. But what can you do? The world, such as it is, continues to spin. To give it a nudge in a better direction, we are quaffing cups of stimulation. Our choice today is roasted coconut. Please feel free to join us. Meanwhile, here is the latest grab bag of interesting items for you to peruse. We hope you have a manageable day and accomplish much. And please do keep in touch. …
Novartis sued the U.S. government in an attempt to halt the Medicare drug-price negotiation program, which includes its top-selling heart-failure medicine Entresto, Reuters notes. The lawsuit, filed in federal court in New Jersey, is the first since the Biden administration last Tuesday released its list of 10 prescription medicines that will be subject to price negotiations by the Medicare health program, which covers 66 million people. Six other drugmakers, including Bristol Myers Squibb, Johnson &Johnson, and Merck, had already sued the Centers for Medicare and Medicaid Services before the drug list was announced in an effort to derail the price-setting process.
Monday afternoons at Novartis now feature the Ronny Gal Show, The Wall Street Journal explains. Starting at 2:30 p.m. in Basel, an industry news and intelligence report written by Gal hits the inboxes of 250 senior officials, who rush to read which deals the chief company strategist says Novartis should pursue, what science it should investigate, and what rivals are doing. Gal, a hard-charging Israeli-American who was an outspoken Wall Street analyst, never worked in pharma before a year ago. Now he — and his no-holds-barred reports — are helping propel the remodeling of one of the world’s biggest and most hidebound drugmakers.