1. The FDA formally released two new draft guidance documents Wednesday, detailing the agency’s thinking on off-label communications and the sharing of healthcare economic information with payers and formulary committees. The agency also issued a 63-page memorandum on the First Amendment implications of moderating off-label communications.
2. PhRMA released a new analysis claiming that branded drug companies’ share of U.S. spending on their products is down due to rebates paid to pharmacy benefit managers. Out of $349 billion that insurers and patients paid for branded drugs, only 63% (or $218 billion) was realized as revenue by drugmakers. (Bloomberg)
3. Seventy percent of oncologists on Twitter receive funding from drugmakers, according to research published in JAMA Internal Medicine. The study claimed that 634 hematologists on Twitter received payments from drugmakers that were unrelated to research and grants. (Time)
4. Tom Price, Donald Trump’s pick for secretary for the Department of Health and Human Services, said a goal of Affordable Care Act repeal is to increase the number of people with health insurance. Price, however, shared few details with Senators, on how his proposals would achieve that goal. (NYT)
5. Novartis CEO Joe Jimenez said at the World Economic Forum in Davos that Donald Trump’s plan to cut U.S. corporate tax rates could lead it to invest in more manufacturing sites in the United States. “When we build a new manufacturing site we think about the tax rate,” he said. (Reuters)