BIO CEO Jim Greenwood is planning to depart the lobbying group at the end of 2020. He has led the trade organization for 15 years. Greenwood acknowledged that “the pharmaceutical industry is at a reputational bottom.” (Politico)
Humira and Rituxan had the biggest price hikes in the U.S. last year. Increases on AbbVie’s Humira and Roche cancer drug Rituxan, along with five other treatments, accounted for a $5.1 billion increase in U.S. spending. (Reuters)
Alphabet-backed health clinic One Medical is planning an IPO. The company, which was valued at $1.5 billion last year, is expected to file to go public in early 2020. One Medical is a modern take on health clinics with services like online scheduling and virtual consultations. (CNBC)
Arizona has backed out of the Purdue Pharma opioid settlement. State attorneys said the company is trying to “undermine material terms of the deal” in court filings. Arizona is the first state to withdraw support for the agreement that 24 states signed last month. (Reuters)
Novartis eye drug Beovu has won approval from the Food and Drug Administration. The injection treats wet age-related macular degeneration. The drug joins other age-related macular degeneration treatments Eylea, sold by Novartis and Roche, and Lucentis, made by Bayer and Regeneron. (Reuters)
