Each week we highlight five things affecting the life sciences industry. Here’s the latest.
Federal government prolongs reimbursement cuts for lab services
- Congress has delayed Medicare reimbursement cuts for lab services by passing a short-term funding bill, postponing the implementation of new payment rates until next year, MedTech Dive reports.
- The American Clinical Laboratory Association praised the delay but emphasized the need for long-term reform of Medicare’s lab test reimbursement system, which they argue is based on flawed pricing data.
Dupixent approved as COPD treatment
- Per Reuters, the U.S. Food and Drug Administration has approved the blockbuster drug Dupixent for treating chronic obstructive pulmonary disease (COPD), which is expected to significantly boost the drug’s sales.
- The drug generated over $10 billion in sales last year.
Biotech focused on obesity closes IPO
- BioAge Labs raised $198 million in an initial public offering, exceeding projections, to fund its obesity drug trials, per BioPharma Dive.
- This is the fifth biotech IPO in September, which was the busiest month for IPO activity since February.
FDA grants first schizophrenia treatment approval in 35 years
- According to BioSpace, the FDA approved the first muscarinic agonist for schizophrenia, offering a new treatment option that avoids many side effects associated with traditional antipsychotics. This marks the first new treatment class for schizophrenia in 35 years.
- The drug targets muscarinic receptors to reduce schizophrenia symptoms and is expected to address unmet needs in the field, though challenges remain in treating negative symptoms and side effects.
New headphones that collect data from the brain hit the market
- A collaboration between Neurable and Master & Dynamic has developed brain-computer interface (BCI) headphones that use EEG sensors to measure focus levels, aiming to help manage burnout by prompting users to take breaks when their concentration wanes.
- The headphones represent a step toward consumer-grade BCI technology, with future applications planned.
For more insights in life sciences, check out RSM’s industry outlook.
