Generic group sues Illinois over a price-gouging law with ‘draconian regulations’; Merck CEO refused to testify in Senate because he’s not an expert in drug pricing, Bernie Sanders says

Taking stock of the drug industry, from the lab to the medicine chest

January 25, 2024 Check out STAT+

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By Ed Silverman Pharmalot Columnist, Senior Writer

Adobe STAT+ | Generic group sues Illinois over a price-gouging law with 'draconian regulations' The law is the latest effort by various states around the U.S. to combat the rising cost of prescription medicines. By Ed Silverman Merck CEO refused to testify in Senate because he's not an expert in drug pricing, Bernie Sanders says Merck told Sen. Bernie Sanders' staff that CEO Robert Davis shouldn't testify because he's a tax attorney without expertise in drug prices. By Rachel Cohrs STAT+ | As biotech VCs struggle to raise money, some debate whether the worst is over Venture capitalists are having a harder time raising funds, as biotech investors ask for more. "A lot is changing in venture fundraising right now." By Allison DeAngelis Courtesy Jack Hewson/Maisha Meds STAT+ | A PBM in Africa flips the industry's script in a bid to make people healthier Maisha Meds is a PBM. But the nonprofit subsidizes medicines and tests aimed at promoting public health, so it's hesitant to describe itself that way. By Rachel Cohrs STAT+ | What to make of Gilead's Trodelvy troubles and Elevation Oncology's surprising rise Gilead's partnership with Arcellx, which is developing a BCMA-targeted CAR-T therapy for multiple myeloma, is looking a lot more important. By Adam Feuerstein

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