Trump administration announces $10B in awards for Rural Health Transformation Program’s second year

Well, it's another working day, and we're back to the daily grind of video conferences, calls, and deadlines. To get us going, we're sipping on a blueberry hibiscus tea, brushed with a touch of bourbon honey. Feel free to join us, or perhaps you'd rather stay hydrated with a simple glass of water.

Now, let's dive into the latest news. Novartis has decided to drop an experimental heart drug, BIO, after a study revealed it had little potential for preventing heart attacks and cardiovascular-related deaths. This comes after a presentation of a key Novartis study at the American Heart Association meeting over the weekend. The study focused on lipoprotein(a), a genetic risk factor for cardiovascular disease that affects one in five individuals.

Earlier this year, a Novartis trial showed promise in reducing Lp(a), but it failed to lower serious outcomes. Other pharmaceutical companies, including Amgen, Eli Lilly, and Silence Therapeutics, are also racing to develop drugs targeting Lp(a). The Biotechnology Innovation Organization has joined a legal battle against a Trump administration pilot program that aims to align drug prices in Medicare with those in peer countries.

The Biotechnology Innovation Organization, along with two California-based biotech trade groups, filed a complaint in a federal court. They argue that the Global Benchmark for Efficient Drug Pricing demonstration, known as GLOBE, exceeds Medicare's statutory authority. The complaint seeks to stop the model from proceeding. GLOBE, which applies to Medicare Part B drugs administered in doctor's offices, is unlikely to cause significant disruption.

The administration exempted most companies, allowing them to agree to voluntary deals to charge Medicaid most-favored-nation prices. For more details, head over to STAT+.