Author Archives: Steve Walker

Aetna Latest Insurer Pulling Back on Obamacare Plans

Aetna Inc. (Hartford CT) said it will reduce by more than 500 U.S. counties its participation in public exchanges under the Affordable Care Act in the face of hundreds of millions of… Read more »

DEA Ignores the Evidence; Keeps Marijuana on Parity with Heroin

In a long-awaited announcement, the U.S. Drug Enforcement Administration denied requests to loosen the classification of marijuana as a dangerous drug with no medical use. The decision, reported by Reuters,… Read more »

Glaxo, Google Parent Create $715 Million Bioelectronic Medicines Venture

GlaxoSmithKline PLC (London) and Google parent Alphabet Inc. (Mountain View CA) have teamed up to develop what they call bioelectronic medicines, or treatments that use miniature implanted electronic devices to modify how electrical impulses are… Read more »

HHS Can’t Wait for Congress; Shifts $81 Million from NIH for Zika Fight

The U.S. Department of Health and Human Services has shifted $81 million in funds from other projects to continue work on developing vaccines to fight the Zika virus in the absence of… Read more »

Valeant Plummets on Criminal Probe of Philidor Unit

Valeant Pharmaceuticals International Inc. (Laval Quebec) did an about-face and fell 11% on Thursday as new details about a criminal investigation into the drugmaker reignited investor concerns about the company’s… Read more »

How is the Affordable Care Act Doing, as UnitedHealth Heads for the Exits: Editorial

The Affordable Care Act’s detractors seemed to get a comforting piece of new evidence last April when UnitedHealth Group Inc. (Minnetonka MN), the country’s largest health insurer, announced it would pull… Read more »

Bristol-Myers’ Opdivo Fails in Key Lung-Cancer Study; Shares Plunge, as Do Patients’ Hopes

A cancer drug’s surprise failure in a clinical trial erased $20 billion from Bristol-Myers Squibb Co.’s (New York City) market value Friday, and raised serious questions about one of the industry’s… Read more »

UnitedHealth 2Q Profit Falls 51%, But Don’t be Misled by the Merger Mania and What UNH Stands to Gain

UnitedHealth Group Inc. (Minnetonka MN) posted strong earnings for its latest quarter as revenue continued to surge in its pharmacy-services business. The company, which is the biggest U.S. health insurer, also gave… Read more »

Obama Administration Seeks Overhaul to Medicare Reimbursement for Heart-Attack Treatments

The Obama administration is seeking to restructure how the government pays for heart attack-related medical care in a bid to reduce health spending, officials announced last Monday. Medicare has long… Read more »

Biogen’s 2Q Profit Crushes Views; CEO to Depart

Biogen Inc. (Cambridge MA) stock jumped Thursday after the drugmaker reported strong sales of some of its newest treatments for multiple sclerosis and hemophilia. The company’s net income and sales… Read more »