BioXcel Therapeutics files Chapter 11, sells assets to Teva
Plus: Hawaii's HMSA reverses value-based pay to fee-for-service. The day's rules, money, and enforcement, sourced and tiered below.
Plus: Hawaii's HMSA reverses value-based pay to fee-for-service. The day's rules, money, and enforcement, sourced and tiered below.
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American Health Intel
Rules · Money · Medicine · Decoded daily
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Monday, August 31, 2026 |
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BioXcel Therapeutics files Chapter 11, sells assets to Teva
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Plus: Hawaii's HMSA reverses value-based pay to fee-for-service. The day's rules, money, and enforcement, sourced and tiered below.
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Deal Confidence: Medium
BioXcel Therapeutics, a Connecticut drugmaker behind an FDA-approved anti-agitation film for schizophrenia and bipolar disorder, filed Chapter 11 bankruptcy and agreed to sell its entire drug portfolio to Teva.
The deal with Teva, a major generic and specialty drugmaker, pays $57.5 million upfront plus up to $67.5 million more if an expanded at-home use of the drug wins FDA approval, decision expected November 14.
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Why it matters
Watch whether the FDA approves expanded at-home use of Igalmi by November 14, 2026; that decision determines how much of the deal's contingent value Teva actually pays out.
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Deadline Confidence: Medium
HMSA, the Blue Cross Blue Shield insurer that covers most of Hawaii, is reversing a value-based payment model for independent primary care doctors back to old-style fee-for-service starting tomorrow.
One rural practice expects to lose 40% of its HMSA patients and $162,000 a year in revenue. A second practice, Hilo Family Medicine, is closing entirely on September 30.
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Why it matters
Watch whether more independent Hawaii primary care practices close or shrink their HMSA panels as the transition proceeds toward the January 1, 2027 final deadline.
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