Daily Briefing

Around the nation: AbbVie purchases biotech firm for $10B


AbbVie on Thursday announced it is purchasing biotech firm Immunogen for $10 billion, in today's bite-sized hospital and health industry news from Colorado, Illinois, and Maryland.

  • Colorado: Vivos Therapeutics on Wednesday announced that FDA has cleared the drugmaker's oral device for severe obstructive sleep apnea. The approval marks the first ever clearance for an oral device alongside a mode of respiratory ventilation or exercise training program for muscles around the face, mouth, and tongue, to treat moderate and severe sleep apnea in adults. According to Vivos, the therapy is an alternative to devices that send pressurized air into a patient's nose and mouth during sleep and surgically placed implants that send electrical signals to the brain. Instead, Vivos's treatment gradually repositions the hard and soft tissues that define the airway, allowing it to open up and optimize function and flow. (Jain, Reuters, 11/29)
  • Illinois: AbbVie on Thursday announced it is purchasing biotech firm Immunogen for $10 billion, allowing the drugmaker to acquire Elahere, a treatment for ovarian cancer that received FDA approval in 2022. Under the deal, AbbVie will pay $31.26 per share in cash for Immunogen, and the deal is expected to close in the middle of next year. (Garde, STAT+ [subscription required], 11/30)
  • Maryland: FDA last month warned consumers not to purchase eye drops that were recalled by Kilitch Healthcare India, which will pull 28 products from shelves, including store-brand products sold at CVS, Rite Aid, Target, and Walmart. Kilitch issued the recall of eye drops with expiration dates ranging from November 2023 to September 2025 citing "safety concerns" after FDA investigators found unsanitary conditions in the facility where the eye drops were made. (Gibson, CBS News, 11/17)

How consolidation and corporate ownership are reshaping healthcare

Vertical integration and consolidation are significantly altering the healthcare landscape. From health plans to retailers to incumbent health systems, consolidation is reshaping conventional norms in the industry. Radio Advisory's Rachel Woods sat down with  Advisory Board  experts Paul Trigonoplos and Eliza Dailey to discuss the reasons for the recent explosion in consolidation across the industry, and where the future is heading for diversification and integration. Download the episode for the full conversation.


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