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Biotech / Medical : Biotech Valuation

CRSP 57.54

+0.9%

3:59 PM EST

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From: A.J. Mullen	5/21/2007 11:22:56 AM
	Read Replies (1) of 52153

I'm surprised there's been no discussion here of the announcement on Friday of the CMS decision to give Xenopex the same code and thus the same Medicare reimbursement as much cheaper drugs. forbes.com Citigroup released a note today saying they would be surprised if it were a rogue initiative. They declared "Xenopex a shot across the bow from coding" and go on to say the "Medicare Modernization Act seems to suggest the coding change cannot be subject to judicial review." If Citigroup are right, this seems to be a potentially serious blow to biotech. It would remove premium pricing for new drugs that were not literally in a new class. Ashley

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