Rite Aid will close 63 more stores; CVS announces some of its closures


Rite Aid has not disclosed the location of the stores that are closing. Meanwhile, CVS Pharmacy announced the closure of six stores in San Francisco in January, as part of a plan to close approximately 900 stores across the country. In other news, Purdue Pharma’s “ripple effect” on bankruptcies, cancer drug insider trading charges, medical marijuana and autism, and more.

CNN: Rite Aid closes more than 60 stores

Rite Aid announced on Tuesday it was closing 63 more stores to save about $ 25 million a year. After years of over-expansion, Rite Aid and other giant US drugstore chains struggled. They have closed hundreds of stores in recent years, despite the pandemic which has drawn people to drugstores. (Valinski, 12/21/21)

San Francisco Chronicle: CVS announces closing of first pharmacies in San Francisco next month

CVS Pharmacy will close six of its 21 stores in San Francisco in January, a company spokesperson told The Chronicle on Monday. They are part of a wave of early closures the company first announced in mid-November, when it said it would close 900 stores across the country in order to reduce its number by 10%. The closures are to occur at the rate of 300 per year for three years. (Whiting, 12/20)

In other news from the pharmaceutical industry –

Stat: AbbVie asks ITC to investigate Alvotech’s plans for a biosimilar Humira

In its latest bid to defend its franchise product, AbbVie (ABBV) filed a complaint with the United States International Trade Commission in hopes of preventing a potential rival from selling a cheaper version of its Humira treatment. for rheumatoid arthritis and other conditions. . The drugmaker has argued that Alvotech, which is seeking a foothold in the United States for biosimilar drugs, has hijacked trade secrets and should not be allowed to market its version once it becomes available in the states. -United. Alvotech, which is based in Iceland, is awaiting regulatory approval. after the U.S. Food and Drug Administration cited pandemic travel restrictions that delayed factory inspections. (Silverman, 12/20)

Axios: Purdue Pharma’s ripple effect on bankruptcies

A federal judge’s decision to dismiss Purdue Pharma’s multibillion-dollar opioid settlement highlights a controversial part of bankruptcies that quietly helps grease the wheels for complicated reorganizations. At issue are the “non-debtor discharges” provided to Purdue owners, the Sackler family. U.S. District Judge Colleen McMahon has said releases – agreements that protect the family from future litigation – cannot legally be granted by a bankruptcy court. (Sailor, 12/20 /)

Stat: University professor charged with insider trading in cancer drug trial

An associate professor at the University of Chicago who worked as a clinical trial investigator for Five Prime Therapeutics has been charged with insider trading in connection with the results of a study on a key cancer drug. In November 2020, Daniel Catenacci was a physician and principal investigator for a Phase 2 stomach cancer treatment trial when he learned of positive results from a Five Prime executive. The drug, known as bemarituzumab, was widely followed as stomach cancer is the third leading cause of cancer death worldwide and prompted Amgen (AMGN) to buy the company for $ 1.9 billion some months later. (Silverman, 12/20)

As well –

CNN: Medical Marijuana and Autism: “I’m Getting My Boy Back,” Mum Says

At first, Joann Fouquette’s son Ezra was hitting all the milestones. That’s what every new mom hopes for: a happy, healthy baby. But around 17 months, things started to change. He stopped talking. He started plugging his ears and banging his head on the ground like something was bothering him. Fouquette remembers his mother telling him, “I think we need to get him tested. There is definitely something going on there. Five months later, in 2012, Ezra was diagnosed with autism spectrum disorder. (Angley, 12/20)

Stat: Cardiovascular Version of Alzheimer’s Disease Could Be A Biotech Jackpot

Surprise diagnoses have a way of earning a doctorate. candidates among ordinary people. Walter Feigenson’s education began in 2007, at the age of 59, when he was wrongly diagnosed with congestive heart failure. Then came carpal tunnel syndrome, which doctors attributed to his years in front of a keyboard. In 2010 it was a ruptured biceps tendon and in 2015 a case of a condition of the spine called lumbar spinal stenosis. It wasn’t until 2018, when “stupid luck” landed Feigenson in front of a specialist at Oregon Health and Science University, that someone made the connection between his disparate symptoms: He had a progressive disease that destroys his heart. (Garden, 12/21/1)

The Washington Post: Self-directed abortion could be the future – but advocates can’t talk much about it

Two hours before the United States Supreme Court convened on the case that could make abortion illegal in much of the country, four women gathered on the steps of the court to propose an alternate path forward . With a mifepristone pill in one hand and a speaker in the other, Amelia Bonow began to sing. “The abortion pills are in our hands and we will not stop,” shouted the co-founder of abortion rights organization Shout Your Abortion. Bonow and three others, none of whom were pregnant, then simultaneously swallowed mifepristone, a pill that can be used to terminate a pregnancy for up to 10 weeks gestation and is widely considered safe. (Kitchen, 12/20)

Stat: Despite Covid Impact, NCI Chief Sees Progress For Cancer Patients

Looking at cancer often means taking a long-term view. Researchers, oncologists and patients are all waiting to see what the long-term effects of the coronavirus pandemic might be on cancer detection and treatment, while trying to navigate everyday life made more precarious by the Omicron variant. . (Cooney, 12/21/1)

North Carolina Health News: Increasing the Use of MAT in Correctional Facilities, Saving Lives

Major Elijah Bazemore began working in the County Durham Sheriff’s Office on April 11, 1988. Since then, there has been a “paradigm shift,” he said. “You want to help a person be better when they come out of the facility than when they were when they were detained,” Bazemore said in an interview with NC Health News. He has helped those held at the County Durham Detention Center do just that through the prison’s Drug Assisted Treatment (MAT) program, where he is the prison program administrator. (Thompson, 12/21/21)

This is part of the KHN Morning Briefing, a summary of coverage of health policies by major news organizations. Sign up for an email subscription.


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