What we're reading, February 2, 2016: Aetna joins other major insurers raising concerns over the Affordable Care Act's insurance exchanges; Sanofi announces plans to develop a Zika vaccine; and Martin Shkreli expected to testify despite dismissing the subpoena.
Aetna has now joined other major insurers who have raised concerns over the sustainability of the Affordable Care Act’s insurance exchanges. The New York Times reported that Aetna has struggled with consumers signing up outside of the open enrollment period. However, CMS recently dropped several special enrollment periods. Aetna is operating in 15 state-based exchanges and has enrolled 750,000 people, but lost more than $100 million on its exchange business in 2015.
As the World Health Organization declared the Zika virus a public health emergency on an international scale, Sanofi announced that it has launched a project to develop a vaccine for the virus, which has been linked to multiple birth defects in Brazil, according to Reuters. Small biotech companies and academic institutions also have plans to develop a vaccine, and GlaxoSmithKline is concluding feasibility studies on its vaccine technology.
Although he dismissed the subpoena, ex-Turing Pharmaceutical CEO Martin Shkreli is expected to appear on Thursday to testify before the House Oversight and Government Committee for the hearing “Developments in the Prescription Drug Market,” reported Roll Call. Other pharmaceutical representatives from Valeant Pharmaceuticals International, Inc, and the Pharmaceutical Care Management Association are expected to testify as well on Thursday.