Medicare drug pricing negotiations are done and Wall Street is getting a good signal from drug CEOs.
Wall Street concerns over the Inflation Reduction Act pricing negotiations for the first 10 drugs under Medicare 's Part D plan appear to be waning. Why? Big Pharma executives have sent signals that they can manage price increases from the federal government — even as anticipation for the Sept. 1 reveal date approaches.
Stelara — which will lose its patent next year — brought in nearly $2.9 billion in sales for the second quarter, up 4.9% year over year. Xarelto, meanwhile, contributed $587 million, a decrease of 7.9% year over year. The two drugs brought in a combined $13.2 billion in revenue in 2023, with Xarelto reporting slower sales year over year.Both BMS and J&J have sued the government over the IRA powers, calling them unconstitutional.
VILLENEUVE-D’ASCQ, France — The Olympic career of Victor Wembanyama has officially begun. The 7-foot-4 French phenom won the tipoff against Brazil's Bruno Caboclo on Saturday, marking his Olympic debut. The anticipation for Wembanyama could be seen throughout Pierre Mauroy Stadium in Lille well before France's opening game of the tournament.
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