Where is Matthew Holt reporting from today? He is at the Novartis Biome Launch Event! And that’s not all, we have some special guest stars for you: Unity Stoakes from StartUpHealth and Zoya Khan from THCB & SMACK.health! Join Jessica Da Massa, as she asks Matthew about what the Novartis’s Biome Event is, updates from StartUp Health (they have a print magazine now!), and talks about JP Morgan Week coming up in January!
Jessica DaMassa asks me about what I saw at Techcrunch Distrupt, Clarify Health Solutions’s $57m round, what Wellth will do with its $5m & a whole lot about next weeks Health 2.0 Conference–Matthew Holt
Jessica DaMassa asks me about Patrick Soon-Shiong and his Verity hospital chain going bankrupt, whether Peerfit can justify its $8m raise, and who I’m going to see at TechCrunch Disrupt this week–Matthew Holt
In this start your weekend off right edition, Jessica DaMassa asks me about Andy Slavitt’s new Town Hall venture fund announced at HLTH, the ATHN buyout, Novartis paying Michael Cohen, Trump’s drug price speech & Lyra Health’s $45m raise….all in 2 minutes–Matthew Holt
As Health Innovation Week kicks off, before 1300 of our best friends arrive for the Health 2.0 Conference on Sunday-Tuesday, on Saturday we are hosting a Health 2.0 Code-a-thon in San Francisco at the PariSOMA loft (11am Saturday 25th to 3pm Sunday 26th). Spots are filling up fast but you can register here & yes, it’s free and there’s $10,000 in prizes at stake (not to mention pizza & beer). But it’s not just SiliValley techies who care. Big pharma Novartis is getting into challenges big time including sponsoring one at this very code-a-thon. THCB favorite (and CEO of Avado) Dave Chase explains more–Matthew Holt
“We’ve spent billions developing new drugs and we’ve spent billions marketing drugs but we’ve spent nothing on the actual use of our drugs.” That is how a senior executive at a major pharmaceutical company described the model in which they’ve operated historically. In a “do more, bill more” reimbursement environment, there was little economic incentive for a pharmaceutical company to pay close attention to what was happening with patients in clinical practice. This has been in stark contrast with clinical trials where a trial makes or breaks a drug. For obvious reasons, in clinical trials, there is a tremendous amount of attention paid to what happens with an individual’s use of a drug.
Times have changed. Not only have the first warning shots been fired across the bow of the pharmaceutical industry, the first shots have landed. Whether the payer is a national government or private insurance company, increasingly, they are refusing to pay for drugs that haven’t demonstrated efficacy in clinical practice (not just trials).