The FDA could approve drug-prescribing apps for patients with chronic conditions, allowing them to use their smartphones to determine if they need a drug and giving them a code to pick it up at a pharmacy. A government sign-off would make this process possible for drugs for high cholesterol, high blood pressure, migraines, and asthma. (Bloomberg)
Payers expect drug prices to continue to rise, despite President Donald Trump’s efforts. A survey of more than two dozen payers found they predict prices will increase between 3% and 5% annually over the next three years. (STAT)
Rite Aid is at risk of being delisted from the New York Stock Exchange as its share price falls below $1. Shares of the pharmacy have dropped 64% over the past 12 months after a turbulent couple of years that included two failed mergers. The company is considering a reverse stock split, in which shares would be combined to increase the price, if it doesn’t improve. (CNBC)
Alphabet’s Verily has raised $1 billion in its latest funding round. Private equity firm Silver Lake led the round. The new funding puts Verily another step closer to potential independence from its parent company. (CNBC)
Takeda is getting deeper into oncology with new deals and cancer units. The Japanese drugmaker is collaborating with Memorial Sloan Kettering to develop CAR-T therapies for multiple myeloma, acute myeloid leukemia, and additional solid tumor indications. It also created an internal cell therapy unit to focus on discoveries in cancer treatment. (Endpoints News)
