JP Morgan Chase has cut ties with Purdue Pharma because of its ties to the opioid crisis. The bank previously handled Purdue’s cash, transactions and billing, but wanted to distance itself because of the reputational hazards of working with the opioid manufacturer. Purdue moved its business to Dallas-based bank Comerica. (Reuters)
Amazon is considering getting into health-tracking wearables. The market for wearables is crowded, with tech giants FitBit and Apple already in the space, but Amazon is mulling a device that could discern the wearer’s emotional state. (Bloomberg)
A proposed Senate healthcare package is tackling surprise medical bills and drug prices. One proposal is to ban spread pricing, the practice that allows PBMs to profit from the disparity in prices between drug manufacturers and pharmacies. Other measures would address companies’ efforts to keep generics off the market. (STAT)
Lawmakers have asked the World Health Organization to revise its pain guidelines for opioids. Two members of the House of Representatives said the guidelines were written by people with ties to Purdue Pharma and could lead other countries into the same kind of addiction and overdose crisis that exists in the U.S. (Associated Press)
Sun Pharma is planning to begin developing its own medicines. The Indian drugmaker has manufactured generics, but it wants to get into higher-margin patented medicines. Other generic manufacturers such as Teva and Mylan are considering similar moves. (Bloomberg)
