Former Covidien head Jose Almeida, who seized the reins at Baxter at the start of the year, offered an early glimpse of his long-term strategy for the company after spinning off the biopharma Baxalta last year. On a Feb. 2 earnings call, he laid out his priorities as trimming operating expenses, reallocating capital to support innovation and growth, and making smaller acquisitions.
Type 2 diabetes is on the rise in the U.S.--and so is TV ad spending for drugs to treat the condition. New medicines, along with increased marketing budgets on older meds, more than doubled diabetes category spending on TV advertising in 2015 to $468 million, up from $194 million in 2014, according to data collected by real-time TV tracker iSpot.tv.
Last September, a big study showed that Eli Lilly and Boehringer Ingelheim's SGLT2 diabetes drug, Jardiance, could lower cardiovascular risks. Now, the companies are one step closer to adding that study data to the drug's label--a win that could rock the marketplace, not only in the SGLT2 drug class, but in competitor categories like DPP-4 meds.
Upstart Senseonics expects to be the first to introduce a long-term implant to continuously monitor glucose levels in diabetics. It's already under review for a CE mark after disclosing pivotal European data in October. Now, it's detailed the plans for the pivotal U.S. study of its Eversense Continuous Glucose Monitoring System.
The National Institutes of Health has launched a program to explore the role of genomics in common diseases such as heart disease, diabetes, stroke and autism. This program has gained a commitment for $313 million in NIH funding from various agencies over the next four years.
Dexcom offered investors a glimpse of its high-profile partnership with Google Life Sciences to develop a next-generation continuous glucose monitor that would be tiny, disposable and affordable for the world's masses of Type 2 diabetics. A product isn't expected to result for another 5 years or so--but Dexcom has committed $40 million to the project, making this its largest R&D expense, the company said at this year's J.P. Morgan Healthcare Conference in San Francisco.
Medtronic CEO Omar Ishrak took center stage at Las Vegas' Consumer Electronics Show to reveal a prototype of a smartphone app that could someday predict the onset of dangerously low blood sugar in diabetics up to three hours in advance. It's being developed with the help of pattern recognition analytics from IBM's Watson Health unit.
Back in August 2014, when MannKind inked a $925 million marketing partnership for inhaled insulin Afrezza with diabetes heavyweight Sanofi, then-CEO Alfred Mann called the French drugmaker the "ideal partner" to take the therapy forward. Now, though, Sanofi is out of the picture--but MannKind insists it's down but not out.
Panasonic Healthcare has closed its purchase of the Bayer Diabetes Care business for about $1.1 billion. The deal was originally disclosed in June and was funded in part by well-known hedge fund KKR, which holds 80% of Panasonic Healthcare with the remainder owned by the larger Panasonic corporate entity.
Eli Lilly may have laid out 2016 guidance on Tuesday that fell short of analysts' expectations. But it had good news, too: Its Type 2 diabetes med, Jardiance, has already begun stealing market share from its SGLT2 rivals since the drugmaker and partner Boehringer Ingelheim unveiled positive new cardiovascular data.