Week of September 23, 2024

Each week we highlight five things affecting the life sciences industry. Here’s the latest.

• 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.

• 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.

• 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.

• 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.

• 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.