FDA approved the first oral tyrosine kinase 2 (TYK2) inhibitor for moderate-to-severe plaque psoriasis, in today's bite-sized hospital and health industry news from the District of Columbia, Michigan, and New York.
- District of Columbia: Morgan Health on Thursday announced a $20 million investment into digital health firm LetsGetChecked, which provides at-home diagnostic and genetic testing, virtual appointments, and prescription drug delivery. Since it was founded in 2015, LetsGetChecked has provided over 10 million tests and partnered with more than 300 companies. The investment is part of Morgan Health's $250 million venture into the health care industry. "Timely access to clinical testing has a critical role in improving employee health," said Morgan Health CEO Dan Mendelson. "LetsGetChecked is designed to serve and meet employees wherever they are, and most importantly, in the convenience and ease of their home to make sure that they get the care they need." According to the announcement, Robin Leopold, EVP and head of human resources for JPMorgan Chase, will join the board of LetsGetChecked. (Berryman, Modern Healthcare, 9/8)
- Michigan: Beaumont Health Spectrum Health (BHSH) on Friday confirmed that it is laying off 400 management and non-patient facing workers across Michigan. According to the newly merged health system, the layoffs are part of a cost-reduction plan that was initially announced it its first consolidated financial report on Aug. 18. "Since the beginning of the year, we have recruited around 10,000 people, predominately into open roles directly serving our patients and health plan members. We have also made the difficult decision to eliminate about 400 management and nonpatient/health plan member-facing roles from our 64,000 team members," BHSH said. While BHSH did not specify where the layoffs are occurring, it attributed the layoffs to "significant financial pressures from historic inflation, rising pharmaceutical and labor costs, COVID-19, expiration of CARES Act funding and reimbursement not proportional with expenses." (Watson, Crain's Detroit Business/Modern Healthcare, 9/9)
- New York: Bristol Myers Squibb announced that FDA approved deucravacitinib (Sotyktu)—the first TYK2 inhibitor for moderate-to-severe plaque psoriasis. The drug is intended for adults who are eligible for systemic therapy or phototherapy and is not recommended for people taking other immunosuppressant drugs. "Sotyktu has the potential to become the new standard-of-care oral treatment for people with moderate-to-severe plaque psoriasis, given its profile in helping patients achieve clearer skin, as demonstrated in the POETYK PSO clinical program," said April Armstrong of the University of Southern California. "People living with moderate-to-severe plaque psoriasis face significant burdens, and Sotyktu is a welcome first-line systemic treatment option." (Bankhead, MedPage Today, 9/11)