What We're Reading: Sanofi Ends Diabetes Work; Surprise Medical Billing; ACA Payments at High Court

Sanofi Focusing on Cancer Drugs, Dropping Diabetes, Cardiovascular Research

White House Backs Bipartisan Agreement to End Surprise Medicial Billing

High Court to Hear Arguments Over ACA Risk Corridor Payments

Sanofi is ending research efforts in diabetes and cardiovascular diseases, Reuters reported. The French drug giant also said it is buying US biotechnology firm Synthorx for about $2.5 billion to focus on oncology drugs. The moves are part of a revamp to narrow the number of its business units in an effort to grow profits. The company dominated the insulin market before it was hit by patent losses and a drop in sales.The White House endorsed an emerging bipartisan agreement on legislation aimed at curbing rising healthcare costs, The Associated Press reported. The legislation would limit surprise medical bills by establishing a system of arbitration aimed at resolving disputes. Congress is scheduled to remain in session for 2 more weeks before adjourning for the year, and it is uncertain if the bill can be approved within that window.The Supreme Court will hear oral arguments in a case involving whether the federal government owes insurers $12 billion in a dispute about risk corridor payments. The payments sought to mitigate risk by protecting insurers against unforeseeable losses in the new exchange markets created by the Affordable Care Act. The Hill reported that the case puts the Trump administration “in the awkward position of having to pay out billions even as it fights to end the law.”