Friday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.
Health advisers critical of Lilly arthritis drug
U.S. health advisers sharply criticized an experimental arthritis drug co-developed by Pfizer and Lilly, saying that it was too risky, even with limits on its use.
The panel says it’s benefits don’t outweigh the risks.
In studies, a small percentage of participants saw their joint damage get worse faster, sometimes requiring hip or knee replacements. Others had swelling or nerve damage. In some, healthy joints were damaged.
Analysts predicted sales of the drug, if approved, would range from $500 million to more than $1.4 billion annually.
No sail order for cruise ships until Nov. 1
The U.S. Centers for Disease Control and Prevention said its no-sail order will remain in place until Nov. 1 for cruise ships.
Cruise Lines International Association asked to lift the order several months early.
The industry says the CDC didn’t take into account the changes cruise lines have made to make sailing safe.
Some cruise lines will sail outside of the U.S. for vaccinated travelers.
FTC warns about COVID-19 vaccine email
The Federal Trade Commission issued a warning that fraudsters are sending through email and text, surveys about the vaccine.
Potential victims are asked to take a survey about their shot experience, and are promised a gift in exchange for doing so. They only have to pay a small shipping fee first.
Would-be victims are asked to fork over their credit card number.
Negotiating medical bill can reduce/eliminate it
Although more than half of Americans have been burdened with medical debt, nearly everyone – 93% – who negotiates a medical bill has their bill reduced or dropped altogether.
The Lending Tree survey says the top drivers of medical debt are often unpredictable, unavoidable procedures. These include emergency room visits, doctor or specialist visits childbirth and dental care.
Three in four people who have had medical debt tried to negotiate their bill. Nearly all of those who did negotiate had their bill reduced or dropped altogether.
Record spending on pets during pandemic
The American Pet Products Association says the industry generated $103.6 billion in annual sales, the industry’s highest figure to date.
$42 billion was spent on pet food and treats, representing a 9% increase from 2019.
The rest was spent on supplies, medication and veterinarian visits.
Foster and adoption rates did skyrocket at the height of the pandemic.