Independence Blue Cross Plans To Buck The Insurer Merger Trend
In pharmaceutical news, slowing market growth in China is raising red flags for the U.S. drug industry. And GlaxoSmithKline is selling rights to an autoimmune disease medication, ofatumumab, to Novartis for $1 billion.
The Philadelphia Inquirer:
Independence Blue Cross Grows By Partnering, Not Merging
The tsunami of mergers announced last month - Aetna's purchase of Humana and Anthem's purchase of Cigna - is expected to transform the health insurance industry, if the deals survive antitrust scrutiny by regulators. The consolidation will create three national giants, including UnitedHealth Group Inc., each with more than $100 billion in annual revenue, and add to the pressure on smaller Blue Cross-Blue Shield operators to merge. But don't count Independence Blue Cross, the region's largest health insurer and a major Center City employer, among those on the ropes. (Brubaker, 8/23)
The Wall Street Journal:
China Worries Could Hurt Pharma’s Health
The big worries on growth hanging over the pharmaceuticals industry are poles apart. Pressure on U.S. drug pricing is casting a shadow over the sector’s most lucrative market. But slowing emerging-market growth, notably in China, shouldn’t be ignored. (Thomas, 8/23)
The Wall Street Journal:
Glaxo Sells Rights To Auto-Immune Disease Drug To Novartis
GlaxoSmithKline PLC is selling its remaining rights to a drug for use in treating autoimmune diseases, including multiple sclerosis, to Novartis AG for up to $1 billion, plus royalties. (Walker and Roland, 8/21)