Healthcare & Life Science Talking Points | 18/09/18

In today’s talking points Australia aged-care inquiry wipes $318 million off health stocks, second carcinogen found in common Chinese produced heart drug and Australian Senate inquiry told that 900,000 Australians have opted out of My Health Record database.


Australia Aged-Care Inquiry Wipes $318 Million Off Health Stocks

After Australia’s new Prime Minister Scott Morrison announced an inquiry into the services of aged-care providers, a number of health stocks plummeted.  The Government has shut down almost one aged-care facility per month, due to malpractice and the discovery of abuse in the industry.  Leading health-care facilities such as Regis Healthcare Ltd slumped 20 percent, Estia Health Ltd. dropped 17 percent and Japara Healthcare Ltd. lost 21 percent after Morrison announced the inquiry.

With an ageing population, Australia’s annual government spending into the aged-care sector is expected to increase another $5 billion per year by 2023.

Source: Bloomberg


Second Carcinogen Found in Common Chinese Produced Heart Drug

European and North American have discovered a second carcinogen in a commonly produced drug used to manage blood pressure by Chinese firm Zhejiang Huahai Pharmaceutical Co Ltd.

The valsartan recalls have been focused on products produced after 2012, when there was a change in the Chinese company’s manufacturing process. 

The European Medicines Agency has said there is likely one additional case of cancer in every 5,000 people taking the highest dose of the affected drug for seven years.

Source:  Reuters


My Health Record: 900,000 Australians have opted out of database, Senate inquiry told

Until November 15, Australians can choose to opt-out from the My Health Record. Although the actual number of people reported is not definite, it is suggested that around 900,000 people have chosen to opt-out.

Previously, the My Health Record was an opt-in system since 2012, with around 6.1 million Australians choosing to opt-in.

An Australian with a Medicare card, will have a record unless they decide to opt-out before the deadline. There have been concerns with the My Health Record system, including the security design and its granted access to parties outside the health community.

Source:  ABC