Health News Roundup: US FDA declines to approve Shin Nippon Biomedical's migraine drug; GSK raises $1.24 billion from latest Haleon stake sale and more

GSK sold around 300 million shares in Haleon at 326 pence per share, cutting its shareholding in the world's largest standalone consumer healthcare company to 4.2%. ECB sounds out lenders on exposure to Spanish drugmaker Grifols - sources The European Central Bank has asked some lenders to detail their exposure to Spain's Grifols and its related entities, after the drugmaker was last week accused of manipulating its financial accounts by a short-seller, sources said.

Following is a summary of current health news briefs.

US FDA declines to approve Shin Nippon Biomedical's migraine drug

The U.S. health regulator has declined to approve Japan-based Shin Nippon Biomedical Laboratories' treatment for acute migraine late on Wednesday, citing manufacturing concerns.

Japan-listed stock of Shin Nippon (SNBL), which acquired the drug through its purchase of Satsuma Pharmaceuticals in April last year, was down 12.2% at 1,721 yen ($11.64) at Thursday's close.

Philippines bans poultry imports from Japan due to avian flu outbreak

The Philippines' farm ministry said on Thursday it has temporarily banned poultry imports from Japan due to an outbreak of avian influenza. Agriculture minister, Francisco Tiu Laurel, in a statement said the import ban was necessary to protect the local poultry population from exposure to the H5N1 avian influenza strain.

Exclusive-Netsmart's owners explore a sale valuing it at $5 billion -sources

The private equity owners of Netsmart Technologies are exploring a sale of the U.S. healthcare software firm that they hope will value it at more than $5 billion, including debt, according to people familiar with the matter. The Overland Park, Kansas-based company, which is owned by GI Partners and TA Associates, is working with investment banks Goldman Sachs Group and William Blair to launch a sale process in the coming weeks, the sources said.

GSK raises $1.24 billion from latest Haleon stake sale

GSK has raised 978 million pounds ($1.24 billion) from a discounted sale of a stake in its spun-off consumer healthcare business Haleon, the British drugmaker said on Wednesday. GSK sold around 300 million shares in Haleon at 326 pence per share, cutting its shareholding in the world's largest standalone consumer healthcare company to 4.2%.

ECB sounds out lenders on exposure to Spanish drugmaker Grifols - sources

The European Central Bank has asked some lenders to detail their exposure to Spain's Grifols and its related entities, after the drugmaker was last week accused of manipulating its financial accounts by a short-seller, sources said. Grifols denies the accusations by Gotham City Research that it has manipulated its debt and earnings through transactions with a related entity, to the effect that its leverage ratio is nearly double what Grifols has reported.

Ex-Pfizer employee convicted of insider trading on COVID drug trial

A former employee of Pfizer Inc was convicted of insider trading on Thursday for buying stock options in November 2021 just before Pfizer announced clinical trial results for the COVID antiviral drug Paxlovid, federal prosecutors said. A federal jury in Manhattan found Amit Dagar, 44, of Hillsborough, New Jersey, guilty on one count of securities fraud, prosecutors said. Prosecutors alleged Dagar had traded and tipped a friend on Nov. 4, 2021, the day before the drug maker announced that Paxlovid had performed well in the trial.

US govt sets rule meant to speed up insurance approvals

U.S. President Joe Biden's administration on Wednesday finalized a rule requiring health insurers to set time targets for the prior authorization process for patients seeking approval for medical services under government-backed insurance plans. The Centers for Medicare & Medicaid Services (CMS), a division of the Department Of Health And Human Services, said the rule will begin primarily in 2026.

Spain breaks own organ transplant record in 2023

Spain carried out more organ transplants than ever before last year, conducting a total of 5,851 such procedures, a 9% jump from 2022, Health Minister Monica Garcia said on Wednesday. With one in four donors in the European Union and 5% of all donors worldwide, Spain, which has a population of 48 million, has been a global leader in organ transplants for over three decades.

US FDA clears DermaSensor's AI-powered skin cancer detecting device

Privately-held device maker DermaSensor said on Wednesday that the U.S. Food and Drug Administration had cleared its hand-held device that uses artificial intelligence to detect skin cancer. The Miami-based private company's device - also called DermaSensor - utilizes light and an AI-powered algorithm to help primary care physicians in identifying the presence of cancer in suspicious moles or lesions.

Minority children in US get poorer healthcare, analysis finds

The quality of healthcare for minority children in the United States is universally worse than it is for white children, even after accounting for insurance coverage, an analysis of dozens of recent studies found. The pattern was similar across all medical specialties, including newborn care, emergency medicine, primary care, surgery, hospital care, endocrinology, mental health care, care for developmental disabilities, and palliative care, researchers said.

(With inputs from agencies.)