The government projects that healthcare spending will grow by 5.8% from 2014 to 2024. The authors of a report published in Health Affairs said health coverage expansions mandated by the Affordable Care Act, an aging population and faster economic growth will lift expenditures over the next decade. The analysis also reported that the nation’s overall healthcare spending reached $3.1 trillion in 2014, the biggest jump since the recession, which was spurred in part by a new generation of expensive HCV drugs, like Gilead Sciences’ Harvoni and Sovaldi, according to The Washington Post.
NantKwest filed its initial public offering Tuesday, signaling a 39% increase in its stock price despite not having any approved drugs on the market. The biotech’s valuation was the highest ever for a drug company without any marketable drugs, according to The Wall Street Journal. The Journal said that NantKwest’s IPO is reflective of investors’ growing predilection toward the biotech sector.
The FDA approved a new device to treat obesity on Tuesday. The ReShape Integrated Dual Balloon System is administered through a patient’s mouth to the stomach and then expands. By occupying space in the stomach, the device can make users feel like they are full.
Sanofi announced Wednesday that its diabetes combination drug, LixiLan, is more effective at reducing blood glucose levels than Lantus and Lyxumia in patients with type-2 diabetes. LixiLan is a combination of those two drugs in a single injection. The Paris-based drugmaker said full results will be announced at an upcoming scientific conference.
Americans have better access to healthcare and are healthier as a result, said a JAMA study published Tuesday. The paper’s authors studied the effects of the Affordable Care Act, saying that the first two open enrollment periods “were associated with significantly improved trends in self-reported coverage, access to primary care and medications, affordability and health” and added that these results were more pronounced in low-income adults in states that had expanded Medicaid.