Latest news with #CMS
Business Times
19 hours ago
- Business
- Business Times
Hong Kong-listed China Medical System seeks secondary listing on SGX
[SINGAPORE] Hong Kong-listed China Medical System (CMS) is seeking a secondary listing on the mainboard of the Singapore Exchange (SGX) in July this year. CMS is a specialty pharma with a focus on sales and marketing in China, with capabilities across the full lifecycle of drug development, from identifying clinical needs to research and development (R&D) regulatory approval, and commercialisation. It has been listed on the Stock Exchange of Hong Kong since 2010. The pharmaceutical company expects the secondary listing will help it deepen its presence in South-east Asia and 'tap into a new and sophisticated investor base in Singapore'. CMS said it is looking to replicate its success in South-east Asia – building on the proven track record attained in China's pharmaceutical industry. 'This region, with a population of nearly 700 million, is experiencing surging pharmaceutical demand due to rapid economic growth, the rise of the middle class, ageing population, and the increasing burden of non-infectious diseases,' it said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Its financial performance in 2023 and 2024 were hit by China's volume-based procurement (VBP) policy – three of its products were included in the VBP list. This policy aims to lower the prices of drugs with generic competition, by guaranteeing certain procurement volumes from public hospitals at significantly reduced prices through a bidding process. But CMS had a top-line rebound in H2 2024, driven by progress in commercialising innovative drugs and the continued growth of non-VBP exclusive products. The company moved towards innovative drugs, given that they typically enjoy a pricing advantage due to their exclusiveness, novelty and quality, and are supported by favourable government policies. It expects growth momentum will accelerate on the back of the replenishment of its pipeline of innovative drugs to about 40 products as at Dec 31, 2024. It noted four key platforms to scale its pharmaceutical ecosystem across Asia-Pacific. CMS R&D is involved in drug discovery and development targeting global markets, while PharmaGend is a development and manufacturing platform for regional manufacturing and supply. It also has Rxilient Health, a Singapore-headquartered entity focused on registration and commercialisation in South-east Asia and a Singapore venture arm, which makes strategic investments to support regional pharma innovation. In a statement on Jun 24, CMS said the proposed listing will not involve issuance of new shares, and the shares will continue to be primarily listed and traded on the Hong Kong Stock Exchange thereafter. Singapore is its regional headquarters for its South-east Asia and Middle East business, the company said. The announcement follows the news of several new listings on SGX – software services provider Info-Tech Systems, a data centre real estate investment trust (Reit) by Japanese telco Nippon Telegraph and Telephone (NTT), and a spin-off of mainboard-listed construction company Lum Chang Holdings' interior fit-out business. Info-Tech Systems, whose shares are expected to begin trading on Jul 4, is the first SGX mainboard listing in two years. NTT DC Reit, which will have a portfolio of six of NTT's data centre assets, will likely be the largest Singapore Reit listing in a decade. Meanwhile, interior fit-out business Lum Chang Creations is looking to list on the Catalist board.
Hans India
20 hours ago
- Hans India
2 cyanide killers get life imprisonment
Vijayawada: Seventh Additional District Sessions Judge Bandela Abraham has sentenced two persons, previously implicated in a series of ten cyanide murders, to life imprisonment and a fine in connection with a murder case reported under Ajit Singh Nagar Police Station limits. The conviction stems from the suspicious death of Katti Nagaraju in Eluru in 2019, initially registered as a case. The subsequent investigation, led by the then Eluru DSP Dileep Kiran, Eluru Rural CI Anusuri Srinivas Rao, and their team, led to the apprehension of two suspects. During interrogation, it was revealed that Nagaraju's death was not suspicious but a deliberate murder using cyanide. Further investigation uncovered that the accused were responsible for an additional nine murders. The culprits, Vellanki Simhadri of Eluru and Shaik Aminullah Babu of Vijayawada, were subsequently arrested. Among the victims was Gandikota Bhaskar Rao, a resident of Ajit Singh Nagar here, originally from Vadlamanu village, Agiripalli mandal, Krishna district. His wife, Gandikota Padmavathi, filed a complaint after learning that her husband was also poisoned with cyanide by the same accused. Based on her complaint, the then Ajit Singh Nagar CI SVV Lakshminarayana registered a case. The accused were then presented in court on PT warrants. During investigation, it was discovered that the victim, a real estate businessman, had extensive dealings with Vellanki Simhadri, also known as Shiva, from Eluru, and Shaik Aminullah Babu, also known as Babu or Shankar, from Vijayawada, whom he had met through his business. In a premeditated act, the accused mixed cyanide into Prasad (a religious offering) and administered it to the victim without his knowledge, leading to his death. Judge Bandela Abraham found Vellanki Simhadri and Shaik Aminullah Babu guilty. Consequently, he sentenced them to life imprisonment and imposed a fine of Rs 25,000 each. The prosecution was represented by Additional Public Prosecutor Y James. The case investigation involved the efforts of CMS Inspector Jagadeeswar Rao, current Ajit Singh Nagar Inspector BH Venkateswara Rao, CMS ASI M Kotireddy, and their team, who examined 11 witnesses under their supervision.
Axios
a day ago
- Business
- Axios
Traditional Medicare to add prior authorizations
Medicare is requiring more pre-treatment approvals in its fee-for-service program in a bid to root out unnecessary care, federal regulators announced Friday. The big picture: Traditional Medicare historically hasn't required prior authorizations to access most drugs or services, a major perk for enrollees. Prior authorization in privately-run Medicare Advantage plans has become a hot-button issue, with Congress and federal regulators working to rein in the practice. Federal inspectors found in 2022 that prior authorization in MA prevented some seniors from getting medically necessary care. Major health insurers this week made a voluntary pledge to streamline and improve the prior authorization process across all health insurance markets. State of play: Medicare's innovation center announced that it will solicit applications from companies to run the prior authorization program. Medicare is looking for companies with experience using AI and other tools to manage pre-approvals for other payers, and with clinicians who can conduct medical reviews to check coverage determinations. The program will start Jan. 1, 2026 and run through the end of 2031. It will only apply to providers and patients in New Jersey, Ohio, Oklahoma, Texas, Arizona and Washington. The change will apply to 17 items and services, including skin substitutes, deep brain stimulation for Parkinson's Disease, impotence treatment and arthroscopy for knee osteoarthritis. CMS selected the services based on previous reports and evidence of fraud, waste and abuse, as well as what's already subject to prior authorization in Medicare Advantage. Overuse of skin substitutes to help heal wounds has especially come under fire in recent years. Medicare spent more than $10 billion on the products in 2024 — more than double what was spent the year before, according to the New York Times. CMS noted that it may make other services subject to the prior authorization program in future years. Providers in the geographic areas can choose whether or not they want to submit an authorization request before delivering a service. But if they decide not to, they'll be subject to post-claim review and risk not getting paid for a service that was already delivered. "In general, this model will require the same information and clinical documentation that is already required to support Medicare FFS payment but earlier in the process, namely, prior to the service being furnished," the notice reads. Zoom in: The companies hired to manage the program will be paid based on how much they saved the government by stopping payments for unnecessary services. "Under the model, we will work to avoid any adverse impact on beneficiaries or providers/suppliers," CMS wrote in the notice.
Health Line
a day ago
- Health
- Health Line
How much does Farxiga cost with Medicare?
Farxiga can cost up to $600 without insurance, with costs varying by pharmacy and whether you choose the brand or the generic. With Medicare coverage, your out-of-pocket costs depend on your plan. Farxiga (dapagliflozin) is a medication for helping lower blood sugar levels and reduce the risk of heart and kidney issues for those with type 2 diabetes, heart failure, or chronic kidney disease. With Medicare, drug overage usually comes through a Medicare Part D or a Medicare Advantage Prescription Drug (MAPD) plan. But whether your plan covers Farxiga and how much the drug will cost after coverage depends on your plan. How much does Farxiga cost per month with Medicare? Depending on where you get it, the cost of Farxiga without insurance can be over $600. The generic version, dapagliflozin, still costs more than $400. Farxiga can be covered by Medicare Part D or a MAPD plan. However, whether this medication or its generic version is covered by your Medicare drug plan and how much the plan will cover depends on its specific list of covered drugs, called a formulary. Private insurers manage Medicare drug plans and will have a different list depending on the plan. In addition, keep in mind that Medicare drug plans also have a deductible, premium, and copay that can vary depending on the plan. In 2025, the national base beneficiary premium for Part D is $36.78. According to the Centers for Medicare & Medicaid Services (CMS), the average monthly premium for Medicare Advantage plans is $17. What tier is Farxiga on? Within your plan's formulary, the insurer will place Farxiga in a tier. Generally, the higher the tier, the more you'll pay as a copayment, with the generic version typically in a lower tier than the brand-name drug. Many Medicare drug plans should include Farxiga, though its tier will depend on your plan. If your plan doesn't include this drug, it may include an alternative and equally effective medication. Generally, Medicare drug plans must cover at least two drugs from the most commonly prescribed categories. If the plan includes it and classifies it in a higher tier, your insurer may require prior authorization for coverage, which could include Step Therapy. This means you'll be asked to try a different, equally effective, but more cost-effective medication first before Medicare will approve coverage for Farxiga. Takeaway Farxiga is a drug designed to help lower blood sugar levels and reduce the risk of heart and kidney issues for those with type 2 diabetes, heart failure, or chronic kidney disease. Without insurance, the cost of Farxiga can range from around $400 to $600, depending on the pharmacy and whether you choose the brand-name or generic version. Usually, Medicare drug coverage comes through a Medicare Part D plan. While your exact coverage and costs for Farxiga depend on the specifics of your plan, many Medicare plans should cover this medication. Plus, once Medicare's price negotiation agreement starts in 2026, the price with coverage should be more affordable. The information on this website may assist you in making personal decisions about insurance, but it is not intended to provide advice regarding the purchase or use of any insurance or insurance products. Healthline Media does not transact the business of insurance in any manner and is not licensed as an insurance company or producer in any U.S. jurisdiction. Healthline Media does not recommend or endorse any third parties that may transact the business of insurance.
Yahoo
a day ago
- Health
- Yahoo
HealthLynked partners with Endlink to enhance hospital connectivity
HealthLynked has entered into a strategic collaboration with data integration firm Endlink for improving connectivity between hospital systems and electronic medical records (EMRs). This connectivity is expected to facilitate coordinated patient care. Endlink co-founder and chief technology officer Rubén Viera brings expertise in healthcare IT standards such as FHIR, HL7, and CMS to the partnership. HealthLynked CEO Michael Dent said: 'Rubén's leadership in healthcare IT and his deep understanding of both clinical and operational workflows make him an exceptional partner as we expand HealthLynked's capabilities. 'This partnership represents a powerful synergy between our shared vision of connected, patient-centred care and Endlink's proven solutions already transforming hospitals in Puerto Rico.' Endlink's platform, which backs more than 300,000 members across Puerto Rico, has played a pivotal role in streamlining processes for two of the territory's hospital networks. The integration of lab findings, alerts, and patient information into instantaneous, mobile-compatible procedures has resulted in swifter specialist response times, thereby elevating the standard of patient care and clinical results. Viera said: 'We believe that the future of healthcare depends on transforming data into action. 'At Endlink, we've always focused on empowering healthcare organisations to unlock the full potential of their data. Partnering with HealthLynked allows us to take this further—by delivering even more intelligent, integrated, and patient-focused solutions.' The partnership will see the integration of HealthLynked's suite of tools, including virtual care access, secure patient records and AI-powered insights, into the current hospital and payer client base of Endlink. HealthLynked will be able to further its reach into data-driven care management and hospital system innovation. It underscores HealthLynked's aim to make healthcare more connected, personalised, and accessible. "HealthLynked partners with Endlink to enhance hospital connectivity" was originally created and published by Hospital Management, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
