Kamala Harris speaking yesterday at the Des Moines Register Iowa Presidential Candidate Forum [via Getty]

Who’s the tough­est on drug prices? A game of po­lit­i­cal one-up­man­ship is dri­ving the pol­i­cy de­bate in Wash­ing­ton

Ear­li­er this week we got a look at Sen­a­tor Ka­mala Har­ris’ po­si­tion on drug prices. She’s propos­ing that HHS take an av­er­age price from sin­gle-pay­er sys­tems like the UK, Ger­many and Cana­da — which lever­age mar­ket ac­cess for low­er prices — and use that to set the US price. Any­thing drug com­pa­nies col­lect above that would be taxed at a rate of 100%.

And the rhetoric is scathing:

While fam­i­lies strug­gle to make it to the end of the month, phar­ma­ceu­ti­cal com­pa­nies are turn­ing record prof­its. They’re spend­ing near­ly as much on ad­ver­tis­ing as R&D. They’re ma­nip­u­lat­ing their mar­ket pow­er to hike prices on life­sav­ing gener­ic drugs. They’re mak­ing twice the prof­it of the av­er­age in­dus­try in Amer­i­ca and still in­creased drug prices by 10.5% over the past six months alone. Mean­while, they are charg­ing dra­mat­i­cal­ly high­er prices to Amer­i­can con­sumers.

That’s an es­ca­la­tion on Joe Biden’s plan, which in­cludes drug im­por­ta­tion from those cheap­er mar­kets as well as al­low­ing Medicare to ne­go­ti­ate prices — some­thing that vir­tu­al­ly all Dems agree on now.

John Car­roll Cred­it: End­points News, Pharm­Cube

Trump, mean­while, has every­one guess­ing about what he means by a “most fa­vored na­tion” clause, but he’s heaped just about every kind of abuse pos­si­ble on drug com­pa­nies and the prices they charge in the US — rel­a­tive to the rest of the de­vel­oped world. Trump al­so has fo­cused on im­port­ing sin­gle-pay­er drug prices to force the WAC down, and will like­ly make his an­ti-Big Phar­ma cam­paign a big part of the re­elec­tion strat­e­gy, even though the bulk of Re­pub­li­can law­mak­ers in Con­gress may qui­et­ly op­pose any such move.

If the De­moc­rats win, they would be hard put to over­come the kind of op­po­si­tion the Re­pub­li­cans would put up to a cam­paign promise like Har­ris’s. The re­al threat lies in Trump’s abil­i­ty to by­pass the Re­pub­li­cans in Con­gress and work a deal with the De­moc­rats — even though they’re at each oth­er’s throats right now.

Joe Biden tak­ing ques­tions at the Des Moines Reg­is­ter Iowa Pres­i­den­tial Can­di­date Fo­rum on Ju­ly 15, 2019 [via Get­ty]

Click on the im­age to see the full-sized ver­sion

What­ev­er hap­pens, bio­phar­ma will find it­self pil­lo­ried at every cam­paign stop as the can­di­dates pitch in with a pop­u­lar and en­tire­ly bi­par­ti­san pop­ulist theme, shriv­el­ing the in­dus­try’s rep at a time drug hunters are en­joy­ing un­prece­dent­ed suc­cess in gain­ing sub­stan­tial fi­nan­cial back­ing for re­search.

So far, po­lit­i­cal tox­i­c­i­ty has failed to cre­ate much of a head­wind on that score. But there’s a long way to go be­fore the votes are cast in the 2020 elec­tion. And right now the theme in Wash­ing­ton po­lit­i­cal cir­cles is cen­tered on po­lit­i­cal one-up­man­ship — find­ing new ways to ap­pear to be the tough­est on phar­ma, re­gard­less of how that plays with small biotechs.

For now, though, drug pric­ing pow­er in the US re­mains en­tire­ly in the hands of the in­dus­try. And what are they go­ing to do about it?

On the heels of promis­ing MCL da­ta, Kite hus­tles its 2nd CAR-T to the FDA as the next big race in the field draws to the fin­ish line

Three days after Gilead’s Kite subsidiary showed off stellar data on their number 2 CAR-T KTE-X19 at ASH, the executive team has pivoted straight to the FDA with a BLA filing and a shot at a near-term approval.

In a small, 74-patient Phase II trial reported out at the beginning of the week, investigators tracked a 93% response rate with two out of three mantle cell lymphoma patients experiencing a complete response.

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Paul Hudson, Getty Images

UP­DAT­ED: Sanofi CEO Hud­son lays out new R&D fo­cus — chop­ping di­a­betes, car­dio and slash­ing $2B-plus costs in sur­gi­cal dis­sec­tion

Earlier on Monday, new Sanofi CEO Paul Hudson baited the hook on his upcoming strategy presentation Tuesday with a tell-tale deal to buy Synthorx for $2.5 billion. That fits squarely with hints that he’s pointing the company to a bigger future in oncology, which also squares with a major industry tilt.

In a big reveal later in the day, though, Hudson offered a slate of stunners on his plans to surgically dissect and reassemble the portfoloio, saying that the company is dropping cardio and diabetes research — which covers two of its biggest franchise arenas. Sanofi missed the boat on developing new diabetes drugs, and now it’s pulling out entirely. As part of the pullback, it’s dropping efpeglenatide, their once-weekly GLP-1 injection for diabetes.

“To be out of cardiovascular and diabetes is not easy for a company like ours with an incredibly proud history,” Hudson said on a call with reporters, according to the Wall Street Journal. “As tough a choice as that is, we’re making that choice.”

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Cor­re­vio is putting it­self up on the auc­tion block af­ter FDA re­view pan­el points to an­oth­er re­jec­tion

For 13 years, the Canadian biotech Correvio tried to get the FDA to accept a heart drug since abandoned by Merck and Astellas. Yesterday, the agency’s outside experts voted 11-2 against approval, all but assuring another rejection for the atrial fibrillation compound vernakalant.

And today Correvio announced that Correvio may soon be no more. The company said it is looking to sell itself as its stock plummets into penny-stock territory $CORV and its potential moneymaker sputters once more.

Psilocybin mushrooms (via The Denver Post)

In a key step for psy­che­del­ic re­search, mag­ic mush­room com­pound clears first clin­i­cal safe­ty hur­dle

Exasperated with the often-ineffective existing slate of antidepressants, COMPASS Pathways set up shop in London 2016 — and made a beeline for psilocybin, the psychoactive ingredient in magic mushrooms.

On Wednesday, the startup said its man-made version of the chemical — which is illegal across geographies in its natural fungi form — had been well-tolerated in an early-stage, placebo-controlled trial in 89 healthy volunteers.

Al­pham­ab On­col­o­gy rounds out HKEX's sec­ond biotech IPO year with $230M raise and high lo­cal in­ter­est

Alphamab Oncology has inspired a surge of local interest in what will likely be the Hong Kong Stock Exchange’s last biotech run of the year, pricing its IPO on the high end of the range and raising over $230 million (HK$1.83 billion).

After rejigging the offering structure and making up to 50% available for enthusiastic local investors, the biotech sold 179.4 million shares at $1.31 (HK$10.2) and saw its stock rise to $1.77 ($13.8) on the first day of trading.

For sale: Long-act­ing PhI­II GLP-1 di­a­betes drug that’s way be­hind ri­vals, now spurned by Sanofi

Almost exactly 4 years ago Sanofi came to the bargaining table with South Korea’s Hanmi bearing $434 million dollars in cash and offering about $4 billion in milestones to in-license their once-weekly GLP-1 injectable. The pact was intended to revive their ailing diabetes division. Instead, it turned into a very expensive grave to mark the end of Sanofi’s R&D ambitions in the field.

Sanofi CEO Paul Hudson used efpeglenatide’s demise — while committing to paying hundreds of millions of more dollars to push it through 5 late-stage studies — as a marker of the company’s determination to stay focused on first and best-in-class drugs.

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What does $6.9B buy these days in on­col­o­gy R&D? As­traZeneca has a land­mark an­swer

Given the way the FDA has been whisking through new drug approvals months ahead of their PDUFA date, AstraZeneca and their partners Daiichi Sankyo may not have to wait until Q2 of next year to get a green light on trastuzumab deruxtecan (DS-8201).

The pharma giant this morning played their ace in the hole, showing off why they were willing to commit to a $6.9 billion deal — with $1.35 billion in a cash upfront — to partner on the drug.

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Parkin­son's trans­plants emerge as stem cell pi­o­neer Jeanne Lor­ing joins R&D race

Jeanne Loring hadn’t studied Parkinson’s in 22 years when she got an email from a local neurologist.

The neurologist, Melissa Houser, didn’t know Loring had ever published on the disease. She was just looking for a stem cell researcher who might hear her out. 

“I think I was just picked out of a hat,” Loring told Endpoints News. 

At a meeting in Loring’s Scripps Research office, Houser and a Parkinson’s nurse practitioner, Sherrie Gould, asked her why there was so much research done in stem cell transplants for other neurodegenerative diseases but not Parkinson’s. They wanted to know if she would work on one. 

Paul Hudson, Sanofi

Paul Hud­son promis­es a bright new fu­ture at Sanofi, kick­ing loose me-too drugs and fo­cus­ing on land­mark ad­vances. But can he de­liv­er?

Paul Hudson was on a mission Tuesday morning as he stood up to address Sanofi’s new R&D and business strategy.

Still fresh into the job, the new CEO set out to convince his audience — including the legions of nervous staffers inevitably devoting much of their day to listening in — that the pharma giant is shedding the layers of bureaucracy that had held them back from making progress in the past, dropping the duds in the pipeline and reprioritizing a more narrow set of experimental drugs that were promised as first-in-class or best-in-class.  The company, he added, is now positioned to “go after other opportunities” that could offer a transformational approach to treating its core diseases.

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