(Reuters) - Pfizer Inc on Monday agreed to pay $5.4 billion in cash for sickle cell disease drugmaker Global Blood Therapeutics, as it looks to capitalize on a surge in revenue from its COVID-19 vaccine and treatment.
48 million Americans get prescription drugs through Medicare Part D, but Medicare has had no ability to negotiate prices. A provision in the Inflation Reduction Act would change that in some cases. The bill would also cap out-of-pocket drug costs for Medicare recipients.
PhRMA CEO Steve Ubl says the group is still fighting hard against the drug pricing provisions, but is making contingency plans — and promises — should reconciliation become law.
Monkeypox doesn't carry the same urgency for Moderna as COVID, says CEO Stéphane Bancel. Though the company is working on a vaccine for the disease, it remains focused of the novel coronavirus, the flu, and ongoing expansion.
Moderna on Wednesday reported second quarter results that beat earnings and revenue expectations driven $4.5 billion in sales from its COVID -19 vaccine, but it's still the company's only commercially available product and it took a big hit on expiring shots.