In a Wednesday hearing in front of the U.S. Senate Committee on Finance, UnitedHealth Group CEO Andrew Witty confirmed for the first time that the company paid a $22 million ransom to hackers who breached the systems of its subsidiary Change Healthcare. Change Healthcare provides payment, revenue management and other solutions like e-prescription software. The … Read more
Humira, the injectable rheumatoid arthritis treatment is pictured in a pharmacy in Cambridge, Massachusetts. JB Reed | Bloomberg | Getty Images Think a friend or colleague should be getting this newsletter? Share this link with them to sign up. Good morning! Sales of AbbVie‘s Humira are plummeting as the once-top-selling drug fights competition from cheaper … Read more
A person walks by a CVS Pharmacy store in Manhattan, New York, on Nov. 15, 2021. Andrew Kelly | Reuters CVS Health on Wednesday reported first-quarter revenue and adjusted earnings that missed expectations and slashed its full-year profit outlook, citing higher medical costs that are dogging the U.S. insurance industry. Shares of the company dropped … Read more
Omar Marques | Lightrocket | Getty Images On a Sunday in early March, Dr. Angeli Maun Akey noticed something peculiar while making payroll for her private practice in Gainesville, Florida: She was missing $19,000. Akey owns and operates a primary care practice that serves around 3,500 patients in the area, many of whom suffer from … Read more
Angelp | Istock | Getty Images Think a friend or colleague should be getting this newsletter? Share this link with them to sign up. Good morning! After a two-year dry spell, initial public offerings by biotech companies showed signs of life during the first three months of 2024. But it’s too early to say that … Read more
Omar Marques | Lightrocket | Getty Images UnitedHealth Group on Monday said it paid ransom to cyberthreat actors to try and protect patient data, following the February cyberattack on its subsidiary Change Healthcare. The company also confirmed that files containing personal information were compromised in the breach. “This attack was conducted by malicious threat actors, and we … Read more
Boxes of Wegovy made by Novo Nordisk are seen at a pharmacy in London, Britain March 8, 2024. Hollie Adams | Reuters Think a friend or colleague should be getting this newsletter? Share this link with them to sign up. Good afternoon! Drug shortages in the U.S. are at a record high, leaving countless patients … Read more
An entry sign to the Johnson & Johnson campus shows their logo in Irvine, California on August 28, 2019. Mark Ralston | AFP | Getty Images Johnson & Johnson on Tuesday reported first-quarter adjusted earnings that topped Wall Street’s expectations as sales in its medical devices business surged. Meanwhile, the company’s total revenue for the … Read more
UnitedHealth Group reported better-than-expected revenue in its first-quarter results on Tuesday, though the company is still dealing with the fallout from the cyberattack on its subsidiary Change Healthcare. Here’s how the company did: Earnings: $6.91 per share adjusted, which may not compare with the $6.61 expected by analysts, according to LSEG. Revenue: $99.8 billion, vs. … Read more
Omar Marques | Lightrocket | Getty Images UnitedHealth Group’s first-quarter earnings call will mark the health care giant’s first major public comments since a cyberattack on its Change Healthcare billing and payments subsidiary in February, which has led to the largest disruption in U.S. health care since the Covid pandemic. “Everybody looks to United as … Read more
