And so, another working week will soon draw to a close. Not a moment too soon, yes? This is, you may recall, our treasured signal to daydream about weekend plans. Our agenda is still shaping up, but we expect to promenade with the official mascot, tidy up up the official grounds, and catch up on our reading. We are planning another listening party with Mrs. Pharmalot and, so far, the rotation will likely include this, this, this, this and this. And what about you? The holiday shopping season is still upon us, so this may be an opportunity to rummage through the catalogs piling up or visit a temple of consumption. Although time is running out, you could plan an end-of-year getaway. Or you could make a point of reaching out to someone special. Well, whatever you do, have a grand time. But be safe. Enjoy, and see you soon. …
Bluebird Bio claimed a large insurer has agreed to cover its newly approved sickle cell disease gene therapy, easing some investor worries about resistance from other payers over the high price of the treatment, Reuters says. The treatment, Lyfgenia, was approved along with another sickle cell gene therapy, Casgevy, from Vertex Pharmaceuticals and CRISPR Therapeutics. But Bluebird’s $3.1 million price tag is nearly $1 million higher than its rivals’, even though its own treatment has a serious safety warning about a blood cancer risk. This has raised concerns over whether it would get enough coverage from insurers versus the competing therapy.
Pfizer shares have fallen to their lowest price in more than a decade, obliterating $140 billion in value this year as the company pulls back on some research and lays off workers, and what led the precipitous decline is a combination of missteps and misreading of the American public’s behavior, The Wall Street Journal explains. Pfizer overestimated future demand for its pandemic products. After the Covid-19 crisis subsided, sales dried up faster than the company — but not Wall Street analysts — had expected. And Pfizer’s other products, no matter how promising, could not close the gap.