STAT+: Pharmalittle: Makers of toxic cough syrups face new actions; Cassava suffers new blow over Alzheimer’s drug
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. We have no particular plan to indulge at the moment, given the somber events of late, but do expect to walk our official mascots and attend to sundry chores and the like. And what about you? Taking advantage of the great outdoors this time of year is a good way to pass the time, of course. Pick an apple, scoop up a pumpkin, breathe in fresh air. Maybe catch up on some reading. Or call someone special to see how they are faring. Well, whatever you do, try to relax. But be safe. See you soon. …
Walgreens Boots Alliance expects to cut at least $1 billion in costs in 2024 as part of its ongoing efforts, which include shutting unprofitable stores, after the pharmacy chain operator forecast financial year 2024 profit below Wall Street expectations, Reuters tells us. The chain has been contending with a steep drop in sales of Covid-19 products, persistently weak prescription drug demand, reported walkouts by its store staff, and weak sales of its consumer health products due to inflation. The chain had said in June it would close its stores at 150 locations in the U.S., and this week, also named Tim Wentworth, a former Cigna executive, as permanent chief executive officer.
Historic levels of dysfunction and infighting may be roiling Congress these days, but there is at least one area where lawmakers appear primed to act as soon as they can: Cracking down on pharmacy benefit managers, Modern Healthcare explains. Members of Congress, Capitol Hill staffers, and industry stakeholders put high odds that a suite of health care bills will wind up on President Biden’s desk before the legislative session ends. And lawmakers are always eager to brag to voters that they took action against high prescription drug prices. CVS Caremark, Express Scripts, and Optum Rx face new transparency rules and restrictions on how they make money under a legislative package.
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