Latest California Healthline Stories
Genentech Rejects Roche’s $43.7B Takeover Bid
On Wednesday, a panel of three independent Genentech directors unanimously concluded that Roche’s $89 per share offer to minority investors “substantially undervalues the company.” The committee encouraged Roche, which already owns a majority share of Genentech, to make a higher offer. San Francisco Chronicle.
Study: Medications as Effective as Angioplasty for Chest Pain
Research published in the New England Journal of Medicine found that medication use can be as effective — and much less expensive — as angioplasty in treating chest pain in patients with stable heart disease. Researchers said the study should push doctors to change treatment practices. AP/San Francisco Chronicle et al.
CVS Caremark To Acquire Longs Drug Stores for $2.9B
On Tuesday, Longs Drug Stores announced that it will be sold to CVS Caremark for $2.9 billion. Longs Drug Stores has 521 stores and 22,000 employees in California, Hawaii, Nevada and Arizona. San Francisco Chronicle, Sacramento Bee.
California Prison Medical Receiver Asks Court for $8 Billion From State
J. Clark Kelso filed court papers seeking to force the state to release $8 billion over five years to build new prison hospitals and make upgrades at existing facilities. The order could add more than $3 billion to the state budget deficit this year. Sacramento Bee et al.
California Says It Won’t Comply With Kids’ Insurance Directive
California officials have informed CMS that they will not make changes to enrollment policies for Healthy Families — California’s version of the State Children’s Health Insurance Program — because the federal directive pushing the changes conflicts with state law. Healthy Families is the largest version of SCHIP in the nation. CQ HealthBeat.
Stem Cell Agency Awards $59M in Research Grants
On Wednesday, the California Institute for Regenerative Medicine awarded stem cell research grants totaling $59 million to 23 young scientists and physicians. The New Faculty Grants are designed to support scientists in the beginning stages of their careers. The grants will fund research ranging from the development of a therapy to stop acute leukemia to the development of therapies to prevent premature birth and birth defects. San Francisco Chronicle, San Diego Union-Tribune.
State Budget Impasse Slows Medi-Cal Changes in Sonoma County
Sonoma County health officials planned to launch a Medi-Cal managed care plan this summer but now say that the plan is unlikely to get off the ground until mid-2009. County leaders say the effort has been slowed by concerns about reimbursement rates. Santa Rosa Press Democrat.
Obama, McCain Differ on Health Care Reform Plans
NPR’s “Morning Edition” compared presumptive Democratic presidential nominee Sen. Barack Obama’s (Ill.) and presumptive Republican presidential nominee Sen. John McCain’s (Ariz.) health care reform proposals. NPR’s “Morning Edition.”
Group Works To Make Silicon Valley Healthiest Area in U.S.
The board of The Health Trust, created in 1996 from the proceeds of the sale of the not-for-profit Good Samaritan Hospital to a for-profit company, has set a goal of making Silicon Valley the healthiest region in the country by 2010. The board has committed $30 million to the effort. San Jose Mercury News.
Many Hispanics Going Without Regular Medical Provider, Study Finds
Research from the Pew Hispanic Center and the Robert Wood Johnson Foundation found that more than a quarter of Hispanics don’t have a regular health care provider and that more than half of high school-educated Hispanics do not seek regular medical care. San Jose Mercury News et al.