The $1.9 trillion American Rescue Plan will help drive domestic and global economic growth, but some countries will feel the effects more than others, according to the International Monetary Fund. The IMF predicts 6.4% growth in the US economy this year, which is 1.3 percentage points higher than the IMF's January forecast, and the global economy will grow by 6%.
The CDC has said it will distribute more than $3.1 billion in total funding to 64 states, major cities and territories to help them prepare for mass vaccination programs scheduled to start this month. The grants, which were approved under the American Rescue Plan, will be based on population and will range from $1.1 million for the Northern Marianas Islands and American Samoa to $357 million for California.
Legislation that may be on the way to manage drug price inflation would have a negative effect on drugmaker stock prices in the short term, analysts at Cowen and SVB Leerink say. However, once legislation is passed or rejected, markets will stabilize and pharma stocks may rise, says Cowen analyst Steve Scala.
Janssen, a Johnson & Johnson subsidiary, has entered into a deal to gain access to antiviral conjugates being developed by Cidara Therapeutics, making Cidara eligible to receive an upfront payment of $27 million. The company's lead candidate, CD388, shows promise as a treatment for every flu strain with just one dose, said Cidara CEO Jeffrey Stein.
Children's hospitals facing shortages of critical medicines have relied on neighboring medical centers, adjusted drug delivery protocols, delayed treatments and recalibrated drugs. Eleven of those hospitals formed the Children's Hospital Coalition and will provide a list of priority drugs to Phlow, a new federally funded drugmaker in Virginia, to produce some of the drugs and contract out the manufacture of others.
Some European countries are weighing whether to allow people who have received the first dose of AstraZeneca's COVID-19 vaccine to receive a booster shot made by another company. Some countries changed their criteria for the AZ vaccine amid an ongoing investigation into reports of thromobtic events, disqualifying some people who have already received the first dose.
PCMA is the national association representing America's pharmacy benefit managers (PBMs), which administer prescription drug plans for 266 million Americans with health coverage provided through Fortune 500 employers, health insurance plans, labor unions, and Medicare Part D. PCMA is dedicated to enhancing the proven tools and techniques pioneered by PBMs that generate savings and access for consumers and payors.
Contact PCMA Charles Cote
Vice President, Strategic Communications