As medical experts and scientists discover diseases, healthcare companies are ready to tackle these challenges by developing top-quality treatments. Because of this, the healthcare sector manages to remain above the curve, which in turn leads to growth. According Deliotte, global health expenditures are forecast to rise as healthcare spending is expected to increase 5.4% annually between 2017-2022, amounting to $10.059 trillion.
“The emergence of personalized medicine, increased use of exponential technologies, entry of disruptive and non-traditional competitors, the demand for expanded care delivery sites, and revamped payment and public funding models are all impacting the financial performance of the health care ecosystem. The health care market is looking to health technology for help.”
With chronic diseases running rampant, the demand for innovative healthcare solutions is rising rapidly. As healthcare companies are working to develop fresh and innovative approaches, whether it be technology, devices or drugs, several healthcare stocks are beginning to see higher activity in the markets.
Premier Health Group (PHGRF) (PHGI.CN) , focuses on innovative healthcare approaches that combine human skill-based expertise with emerging technologies, announced it has initiated integration of CB2 Insights’ (CBII.CN) medical cannabis Clinical Decision Support (CDS) tool. This agreement provides Premier Health’s over 4600 physicians using its Juno EMR platform access to the industry’s sole medical cannabis-specific CDS tool, which is designed to include medical cannabis into patient treatment plans and overcome barriers from a lack of access to education, qualification factors, risks and benefits of cannabinoid therapy while remaining on a patient-centered basis using clinically-validated data.
“We are dedicated to finding new ways to create value for our physician network,” said Dr. Essam Hamza, CEO. “We continue to receive multiple requests from physicians who ask about how best to incorporate medical cannabis into their clinics. This agreement with CB2 will provide us a robust, validated tool to give our physicians and healthcare practitioners a safe and secure way to qualify, educate and where appropriate, prescribe medical cannabis to their patients in a compliant manner.”
This news followed the company’s announcement partnering Bio Conscious Technologies (BCT) to bring their artificial intelligence (AI) technology to Premier Health’s user base for improved monitoring and management of chronic conditions, such as diabetes. The integration of BCT’s algorithm DiaBits into Premier Health’s patient-centric app can learn an individual’s physiology and with machine learning technology predict where their blood sugar will trend over time based on their past.
AVEO Oncology Inc (AVEO) announced financial results earlier this month for the full year ended December 31, 2018 and a business update. The company reported narrowing its Q4 net loss per share to $0.03, from $0.08 the year prior and saw revenue increase to $1.48 million from the previous year’s $82,000. AVEO stated that it believes that its $24.4 million in cash, cash equivalents, and marketable securities at the end of 2018 combined with the $7.5 million from sales under an agreement with SVB Leerink should allow it to fund planned operations into Q1 2020.
Furthermore, last month the company presented top-line results from the TIVO-3 trial, AVEO’s Phase 3 randomized, controlled, multi-center, open-label study to compare tivozanib to sorafenib in 350 subjects with refractory advanced or metastatic renal cell carcinoma at the 2019 American Society of Clinical Oncology Genitourinary Cancers Symposium.
“The results of TIVO-3, presented in February at the 2019 ASCO GU Symposium, underscore a unique activity and tolerability profile among VEGF TKIs in the treatment of kidney cancer,” said Michael Bailey, President CEO. “We continue to believe that there is a significant potential commercial opportunity for an active and well tolerated therapy within the third plus line of therapy, particularly one that demonstrated activity in a highly refractory patient population that has received prior PD-1 treatment. We are hopeful that the positive PFS outcomes from TIVO-3 translate into an improved overall survival hazard ratio and look forward to reporting a more mature interim OS outcome in the fourth quarter of 2019.”
Amarin Corporation plc (AMRN) announced that the American Diabetes Association® (ADA) issued important updates to the Standards of Medical Care in Diabetes for 2019 which include updates related to the results of the REDUCE-IT™ cardiovascular outcomes study. The REDUCE-IT related updates were informed by newly published research covering REDUCE-IT results.
The Standards of Care update references the drug, icosapent ethyl, which is studied in Amarin’s REDUCE-IT that evalutes Vascepa® (icosapent ethyl) capsules. Vascepa has been approved for use by the US FDA as an aide to diet to reduce triglyceride levels for severe hypertriglyceridemia. Amarin has begun transmission of data to the FDA to support the submission of a supplemental new drug application to expand Vascepa’s FDA label based on the landmark REDUCE-IT results.
“As we have commenced transmission of data to the FDA for the submission of our sNDA seeking an expansion of the Vascepa label based on the landmark REDUCE-IT results, we are pleased by ADA’s acknowledgement of the importance of the REDUCE-IT results in its 2019 update of the Standards of Care,” said Craig B. Granowitz, M.D., Ph.D., SVP, CMO. “The medical community will also hopefully take note of recent research reporting the prevalence of, and increased costs associated with, diabetes mellitus and high triglyceride levels despite statin therapy5.”
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