Affordable Care Act’s Coverage Milestone & Latest Health Industry Updates

The US Treasury Department disclosed data showing that the Affordable Care Act, commonly referred to as Obamacare, has insured over 49 million Americans since its inception in 2014. The health coverage milestone was reached with 20.8 million citizens enrolled by 2024, marking a significant achievement in public health policy.

In pharmaceutical news, BridgeBio Pharma announced it is discontinuing its research on a therapy for a genetic disorder affecting the adrenal gland, due to unsatisfactory trial results. This decision follows another revelation that the weight-loss treatment market is projected to see the introduction of 16 new drugs by 2029, potentially elevating the market value to $200 billion by 2031.

Novo Nordisk’s experimental weight-loss pill amycretin demonstrated mild-to-moderate side effects in early trials, showing promise with participants losing up to 13.1% of their weight over 12 weeks. Meanwhile, Novo’s older obesity drug Saxenda was found safe and effective for children aged 6 to under 12 in a 56-week study.

In legal developments, Ipsen’s employee plans to plead guilty to insider trading related to the company’s acquisition activities. Concurrently, the city of Baltimore settled with Teva Pharmaceuticals and Walgreens for a total of $402.5 million over opioid crisis claims. Additionally, a polio vaccination campaign commenced in north Gaza despite logistical challenges, while Teva faces an impending EU antitrust fine for disparaging a competitor’s multiple sclerosis drug.

UnitedHealth Group announced its plans to remove AbbVie’s Humira from certain drug reimbursement lists starting in 2025 in favor of more cost-effective biosimilar medicines, such as Amgen’s Amjevita, as it seeks to manage pharmaceutical costs more efficiently.

(With inputs from agencies.)