Chinese drugmakers weigh sales; Amendments to Medicare Price Talks

Good morning from STAT London. Andrew Joseph replaces Mr. Pharmalot. We take the rate at which the sun sets earlier and earlier as a personal insult, but there seems to be no choice but to keep grinding away, perhaps fueled by an extra cup of stimulation. Maybe some headlines will do the trick too.…

Two affiliated Chinese drugmakers targeted by upcoming U.S. national security legislation are working to sell some of their unitsreports the Financial Times, citing people familiar with the matter. WuXi AppTec and WuXi Biologics are among five Chinese companies covered by the Biosecure Act, which prohibits drugmakers with U.S. government contracts from using Chinese groups after 2032. The bipartisan bill passed the House of Representatives and is moving through the House. Senate.

The U.S. government will provide more negotiation time and a better chance for drugmakers to submit counteroffers during the second round of talks on Medicare price cuts– writes Reuters. By February 1, 2025, the Centers for Medicare and Medicaid Services will select the most expensive prescription drugs for negotiation, with prices taking effect in 2027. The agency will now meet with drugmakers before submitting their first bid and will hold one of three scheduled negotiation meetings before the submission deadline first counteroffer. If the company decides to oppose the government’s offer, it will hold two further meetings to negotiate.