GLG News by Medicare Experts

Keith BermanConsultantHEALTH RESEARCH ASSOCIATES

Talecris Biotherapeutics Proposes IPO; Hits Favorable Timing Window

September 23, 2009

Analysis of:Talecris Joins Crowd of Stock Offerings | www.newsobserver.com

Talecris Biotherapeutics and its two private equity owners -- Cerberus Capital Management and Ampersand Ventures -- are counting on the third time being the charm with their new IPO slated to sell 44.7 million shares at a target price of $18 to $20 each. About $515 million of these funds are earmarked to pay off loans, with the balance available to bolster commercialization activities, advance the company's ambitious R & D pipeline and help fund capacity expansion.

Martin GoldPrincipalTECHNOLOGY ACCESS PARTNERS LLC

Will We Never Learn From Past Mistakes?

July 29, 2009

Analysis of:Mass. Panel Backs Radical Shift in Health Payment | www.nytimes.com

The idea of global payments is not a new one. This was attempted in the 1990's as part of insurer/provider risk-sharing arrangements. The dollars that providers will be given will have to be less than the amount the insurer spent on member care or no savings will be achieved. Providers will be required to recreate the administrative infrastructure of an insurance company along with the accompanying expense. Gatekeeper model managed care failed in the 1990s for all of these reasons.

Glen McDanielPresident and Chief Executive OfficerGM Global

Roche adds to anti-MRSA arsenal in Europe

April 8, 2009

Analysis of:Roche introduces new LightCycler MRSA advanced test in EU | www.roche.com

European healthcare organizations have always been more aggressive in identifying MRSA infections. Europe popularized the "search and destroy" protocol of MRSA containment. This new method by Roche is a valuable addition in this arsenal. I expect the LightCycler MRSA Test by Roche to be popular and very lucrative for Roche.

Adam FeinFounder & PresidentPEMBROKE CONSULTING INC

No Visible Revenue Synergies in CVS Caremark's Latest Numbers

February 23, 2009

Analysis of:CVS Net Rises; Finance Chief Plans to Retire | online.wsj.com

CVS Caremark’s PBM businesses are not becoming a larger share of prescriptions filled at CVS retail pharmacies. Put another way, the flagship Maintenance Choice program may be appealing to payers and consumers, but there is not yet a quantitatively visible shift in CVS' retail activity. If CVS pharmacies are taking retail pharmacy market share, then it’s not yet as a result of corporate co-ownership with a PBM.

Keith BermanConsultantHEALTH RESEARCH ASSOCIATES

FDA Approves CSL's RiaSTAP Human Fibrinogen Product

January 22, 2009

Analysis of:CSL Behring Receives FDA Approval of RiaSTAP, First and Only Approved Treatmetn of Acute Bleeding Episodes in Patients with Congenital Fibrinogen Deficiency | www.cslbehring.com

Rabies Surveillance in the United States during 2007CSL Behring's human fibrinogen concentrate, sold for years in Europe as Haemocomplettan P, will be welcomed as a treatment for bleeding problems in U.S. patients with a rare genetic absence or deficiency of this critical clotting protein.  RiaSTAP will eliminate the need for infusions of large quantities of "cryoprecipitate" that can cause dangerous clots or potentially transmit blood-borne infections.  Most of these RiaSTAP revenues will go directly to CSL's bottom line, as fibrinogen is already present in same donor plasma from which CSL currently extracts immune globulins, albumin, factor VIII and other therapeutic proteins.  RiaSTAP addresses a small market, but each new niche product like this (and there will be others) is like found money:  the cost of purifying it is generally modest in relation to the value and pricing it can command.

Keith BermanConsultantHEALTH RESEARCH ASSOCIATES

CSL Gets FDA Approval for Its RiaSTAP Fibrinogen Product

January 20, 2009

Analysis of:CSL Behring Receives FDA Approval of RiaSTAP, First and Only Approved Treatmetn of Acute Bleeding Episodes in Patients with Congenital Fibrinogen Deficiency | www.cslbehring.com

CSL Behring's human fibrinogen concentrate RiaSTAP, sold for years in Europe as Haemocomplettan P, will be welcomed for management of bleeding problems in U.S. patients with a rare genetic absence or deficiency of this critical clotting protein.  RiaSTAP will eliminate the need for infusions of large amounts of "cryoprecipitate" that can cause dangerous clots or potentially transmit blood-borne infections.  Most incremental RiaSTAP revenues will go directly to CSL's bottom line, as fibrinogen is already present in same donor plasma from which CSL currently extracts immune globulins, albumin, factor VIII and other therapeutic proteins.  RiaSTAP addresses a small market, but each new niche product like this (and there will be others) is like found money:  the cost of purifying it is generally modest in relation to the value and pricing it can command.

Adam FeinFounder & PresidentPEMBROKE CONSULTING INC

Pharmacy Profits and Wal-Mart

January 16, 2009

Analysis of:Health-Care Outlays Climb at Slowest Rate in Years | online.wsj.com

U.S. spending on outpatient prescription drugs grew by only 4.9 percent in 2007, which was below overall health care spending growth  of 6.1 percent. Public funds (primarily Medicare and Medicaid) paid for 36 percent of total retail prescription drug spending in 2007. So, how much money do pharmacies make from Medicare and Medicaid? The answers may surprise you. Here’s what I found: (1)  Medicaid remains the most profitable third-party payer for independent pharmacies. (2) Despite what you may have heard, gross margins on third-party insurance business are growing at independent pharmacies. (3) The generic price war that was triggered by Wal-Mart is squeezing pharmacy margins on cash-pay consumers. While $4 generics may be good news for uninsured/underinsured patients, they are bad news for pharmacy owners.

Martin GoldPrincipalTECHNOLOGY ACCESS PARTNERS LLC

How Low Will Patient Volume Go?

January 7, 2009

Analysis of:Hospitals See Drop in Paying Patients | www.nytimes.com

Hospitals are experiencing a reduction in the number of Commercial/Privately Insured patients seeking elective procedures. Some hospitals are more significantly impacted by this than others. How low will the patient volume drop and how long will this reduction last?

Martin GoldPrincipalTECHNOLOGY ACCESS PARTNERS LLC

Conmed Under-performance is a Foreshadowing of Things to Come

January 6, 2009

Analysis of:Conmed lowers outlook as hospitals tighten budgets | www.boston.com

Conmed has indicated that sales of its devices have fallen partially due to the budget tightening at hospitals. While the company minimized the this issue in their statement it is just the tip of the iceberg.

Martin GoldPrincipalTECHNOLOGY ACCESS PARTNERS LLC

Medical Devices that Communicate: Great Concept but Insurers Won't Pay

January 5, 2009

Analysis of:Medical devices lag in iPod age | www.boston.com

Both consumers and medical experts believe that if medical devices communicate with each other like consumer electronic products, cell phones, iPods, etc., there would be fewer medical error related deaths. In theory device interconnectivity is a great idea, but such capabilities require substantial funding. The research and development expenses industry wide would to accomplish these standards would be astronomical. Should hospitals be demanding these type of capabilities from the device manufacturers? At a time when hospitals are attempting to negotiate LOWER prices for their devices, they are highly unlikely to be wiling to fund such improvements.

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