CVS Health pushed back today against Health and Human Services Secretary Alex Azar's claims that pharmacy benefit managers are stopping drug companies from lowering their prices.
Why it matters: The political battle between drugmakers and PBMs, which act as middlemen in the supply chain, is fierce — and the Trump administration has singled out PBMs for most of its criticism. But CVS Health, one of the country's biggest PBMs, is trying to put the onus back on pharmaceutical companies.
At least 26 people died of the bacterial disease leptospirosis in Puerto Rico during the six months after Hurricane Maria, according to a new report from CNN and the Centro de Periodismo Investigativo.
Why it matters: Leptospirosis, an illness often spread in floodwaters via animal urine, is rarely a fatal disease and is easily treatable with antibiotics — but the Puerto Rican government refused to declare an outbreak, which could have furthered the illness' effects by failing to prompt greater surveillance and prevention efforts.
The "Blue Wave" is crashing over the Democrats' own party.
The big picture: Alexandria Ocasio-Cortez's victory over Rep. Joe Crowley wasn't just an isolated incident. It reflects the Democratic Party's fight for its identity under President Trump.
Many pharmaceutical companies this week trotted out fresh price increases on existing products, a common mid-year occurrence that has not abated despite the Trump administration’s assertions that prices are coming down.
Why it matters: As we’ve reported over and over again, the pharmaceutical industry’s practices have not changed one iota even with the administration’s pricing blueprint, and drug companies still have every incentive to raise prices.
Amazon's $1 billion acquisition of mail-order pharmacy startup PillPack created an industry-wide frenzy, as prognosticators forecast doom for traditional pharmacies like Walgreens and Rite Aid. But Amazon still has a long way to go if it wants to drastically change the drug supply chain.
The big picture: Amazon is buying a small player in a highly regulated industry dominated by powerful incumbent companies that aren't willing to give up their turf. The online retailing giant will have to build or acquire more parts to make a big difference.
Juul, the maker of vaping devices and nicotine flavor pods that dominate college and (yes) high school campuses, is raising $1.2 billion at a valuation of around $15 billion.
Bloomberg was first with the news on Friday, and Axios has learned that it's basically a done deal that could be announced within just a week or two. We've also obtained some company financials, which helps explain the investor appeal.
