Anesthesiologists report drug shortages
May 1st 2001In an effort to address the declining flow of much-needed medications used during surgery, the American Society of Anesthesiologists is calling on federal regulators and pharmaceutical industry leaders to take action quickly to end the nationwide shortage of anesthetic agents.
Reforms suggested in IOM's second report
May 1st 2001The Institute of Medicine of the Washington-based National Academy of Sciences has released "Crossing the Quality Chasm: A New System for the 21st Century," a follow-up to its earlier report, "To Err is Human." While "To Err is Human" concentrated on the issue of patient safety, the new report offers suggestions for wider healthcare reform.
Annual Reports: Size Doesn't Matter
April 1st 2001Bagsvaerd, Denmark-Niche players with good exposure to US markets are showing strong growth, bucking the notion that size is everything in the pharmaceutical industry. And, if it is true that the industry is recession-proof, that situation is unlikely to change, even in the event of a US downturn.
Partnerships: Bargaining Biotechs
April 1st 2001Uniondale, New York, USA-Thirty-eight companies submitted proposals to develop OSI-774, OSI Pharmaceuticals' lead cancer candidate, making it the most sought-after compound of 2000. The statistic was revealed with some satisfaction by Myrtle Potter, chief operating officer of Genentech, the joint winner-along with Roche, its majority stockholder-at the Economist Conferences' annual pharmaceuticals conference.
Relationship building: A potent tool
April 1st 2001It seems nothing short of amazing to me that the vast majority of pharmaceutical reps bypass what is surely the most potent sales tool that exists. Before I became a provider 22 years ago, I was involved in sales. It was then that I realized that sales are greatly influenced by the nature and quality of the relationships between salespeople and their customers. Failure on the part of pharmaceutical representatives to develop good, strong relationships most often leads to poor prescribing habits on the part of the provider.
Hospital care expenses dropping
April 1st 2001According to "Outlook 2001," a report released by the Boston-based Tufts Center for the Study of Drug Development, the United States today spends nearly three times as much on physician services as it does for prescription drugs, and over four times as much as it does for hospital care. Although prescription drugs, as a share of total U.S. healthcare spending, increased from 5.5% a decade ago to 8.5% today, hospital expenditures declined from nearly 37% to 33% during the same time period, while spending on physician services remained nearly constant.
MCO formularies adding new products
April 1st 2001More than 20 new drugs were added to the Fall 2000 edition of Newtown, PA-based Scott-Levin's Managed Care Formulary Drug Audit. Betapace AF™ (sotalol HCl), a cardiovascular therapy manufactured by Berlex Laboratories Inc., Montville, NJ, was the new product with the highest level of formulary acceptance, according to the audit.
President Bush proposes a 'helping hand'
April 1st 2001President Bush has sent his temporary prescription drug proposal for low-income families - called "An Immediate Helping Hand" - to Congress. The plan would provide block grants to states to cover drug costs for seniors 65 and older who have incomes of up to $11,600, and up to half the drug costs of seniors with incomes of up to $15,000. The plan would also cover drug costs for any Medicare patient, regardless of income, if his or her yearly drug costs exceed $6,000.
Healthcare mergers and acquisitions hit seven-year low
April 1st 2001For the past four years, the volume of healthcare services mergers and acquisitions has always slowed in the fourth quarter. While the fourth quarter of 2000 was no exception, the size of the decline was larger than usual and the number of transactions fell below 100, hitting a seven-year low, according to New Canaan, CT-based Irving Levin Associates Inc. In its fourth quarter 2000 Healthcare M&A Report, the firm points out that there were just 90 healthcare services mergers and acquisitions announced, representing a 30% decline from the third quarter and a 43% plunge from the fourth quarter of 1999.
Bush, McCain clash on patients' rights
April 1st 2001President Bush and Sen. John McCain (R-AZ) are set to battle over McCain's "Bipartisan Patient Protection Act of 2001," a patients' rights proposal he has introduced with Senators John Edwards (D-NC), Ted Kennedy (D-MA), Lincoln Chafee (R-RI), Tom Harkin (D-IA) and Bob Graham (D-FL). The proposal would: