Good morning, everyone, and how are you today? We are doing just fine, thank you, despite increasingly high-speed, chilly winds whipping by the Pharmalot campus. To keep warm, yes, we are firing up the trusty coffee kettle for yet another cup of stimulation. Our choice today is maple bourbon. Please feel free to join us. Meanwhile, we have assembled a tasty menu of tidbits for you to peruse as you gear up for what is likely to be another busy day. On that note, we wish you the best of luck and, as always, please do keep in touch. We are inspired by your missives. …
The number of layoffs in the U.S. pharmaceutical industry exceeded 14,000 last year, a 9% increase from the number of jobs that were cut in 2023, according to Challenger, Gray & Christmas, the outplacement and executive coaching firm. Specifically, the industry shed 14,010 positions in 2024 compared with 12,859 the previous year. As 2024 closed out, pharmaceutical companies eliminated 493 jobs, which was less than the 1,361 layoffs a year earlier and the 766 positions that were cut in November. Worth noting — the pharmaceutical industry eliminated 7,387 jobs in 2022. And job cuts are already emerging this year as Scribe Therapeutics has laid off just under 20% of its staff, joining a slate of CRISPR gene editing companies to cut staff amid a prolonged downturn for the field, STAT reports.
Eli Lilly’s popular anti-obesity drug Zepbound could get a sales boost after the U.S. Medicare program decided to pay for its use to treat sleep apnea, The Wall Street Journal notes. The Centers for Medicare and Medicaid Services said the recent approval of Zepbound to treat obstructive sleep apnea by the U.S. Food and Drug Administration means that the drug is eligible for coverage for that use under Medicare Part D and Medicaid plans. That could mean a new, big dose of sales for the blockbuster treatment, further fueling Lilly shares. Federal law had barred Medicare from covering drugs used for weight loss alone. Last year, CMS said Medicare plans could begin covering anti-obesity drugs for additional approved uses, such as the prevention of heart attacks. The Biden administration proposed expanding Medicare coverage of the drugs to treat obesity alone, but the proposal has not taken effect and faces an uncertain future under the incoming Trump administration.
This article is exclusive to STAT+ subscribers
Unlock this article — plus in-depth analysis, newsletters, premium events, and news alerts.
Already have an account? Log in