Good morning from Pharma and Biotech Daily, the podcast that gives you only what's important to hear in the Pharma and Biotech world. Today, we have several news updates from the industry. Let's dive in.Cigna has sold its Medicare businesses to HCSC for $3.7 billion, exiting a sector that has seen its earnings potential shrink. Despite the sale, Cigna still sees Medicare Advantage as an area for future growth. In other news, the No Surprises Act prevented 10 million surprise bills in the first nine months of 2023, according to insurer groups AHIP and BCBSA. However, they also criticized providers for allegedly abusing the billing dispute resolution process set up by the law. Tenet Healthcare plans to sell four California hospitals to UCI Health for $975 million as part of its efforts to reduce debt. An AI-powered solution is being touted as a way to alleviate the critical shortage of medical coders and boost efficiency and revenue in healthcare systems.In the biotech world, Arch is raising $3 billion for startup investing, continuing its track record of creating and investing in biotech startups. Vertex's non-opioid drug showed positive results in a major trial for pain relief, although it fell short compared to a widely prescribed opioid on a secondary goal. Cell therapy for lupus is gaining attention, with several drugmakers conducting trials in this area. Biogen has decided to discontinue its controversial drug Aduhelm and return the rights to the original developer. AstraZeneca and Daiichi are seeking FDA approval for their drug Enhertu as a "tumor agnostic" treatment. Roche has made changes to its early-stage pipeline, focusing on experimental programs for obesity.In recent developments, Philips has stopped selling sleep and respiratory devices in the US due to a consent decree from the FDA. Teleflora used a documentary approach in its marketing campaign to overcome cynicism about love, while Lay's released time-loop ads inspired by the movie "Groundhog Day." Ocean Spray revealed its first major brand overhaul in over 20 years, and Miller Lite turned fans into walking beer ads for the Super Bowl. McDonald's also made headlines with its Hamburglar character hitting the road in a getaway vehicle. Pepsi Wild Cherry created excitement around the Super Bowl with a Vegas sphere takeover.Cigna is still interested in the Medicare Advantage market despite selling its Medicare division. Providence plans to settle allegations of not fulfilling charity care obligations. Walgreens has confirmed additional layoffs as part of its ongoing efforts to achieve cost savings. The Department of Health and Human Services has finalized a rule on telehealth at opioid treatment programs. A new study found that the availability of telehealth for mental healthcare varies by state. Healthcare executives must consider workforce and consumer concerns about generative AI, according to a survey.Alto Neuroscience and Fractyl Health have both gone public in separate IPOs, joining the recent surge of biotech IPOs. The CMS has sent initial price proposals to drugmakers as part of efforts to reform drug pricing. Kyverna Therapeutics is planning an IPO to support the development of its anti-CD19 CAR-T therapies. The Department of Health and Human Services released new data showing that Americans pay significantly more for prescription drugs compared to other developed countries. The ASGCT Annual Meeting will cover topics such as genome editing, muscular dystrophy, and cell and gene therapy.In financial news, AbbVie reported a beat in its Q4 earnings but expects sales decline in oncology and immunology. Bristol Myers Squibb exceeded Q4 estimates and is looking towards new products and M&A following exclusivity loss. Merck posted $60 billion in sales for 2023 driven by Keytruda and HPV vaccine. GlaxoSmithKline saw an increase in sales thanks to vaccines for RSV and shi

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