5 key challenges facing 23andMe ahead of its public debut

Hello,

Welcome to Insider Healthcare. I'm Lydia Ramsey Pflanzer, and today in healthcare news:

• We looked through 23andMe's financial filings as it prepares to go public via SPAC;
• What the WHO found in its investigation into the origins of the novel coronavirus;
• We got the scoop that Walmart's chief medical officer is leaving the company.

If you're new to this newsletter, sign up here. Comments or tips? Email me at lramsey@insider.com or tweet @lydiaramsey125. Now, let's get to it...

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Some breaking news for you this morning - Pfizer and BioNTech's COVID-19 vaccine was highly effective at preventing infections in kids ages 12 to 15, the company said Wednesday morning. That's according to results from a trial of more than 2,000 12- to 15-year-olds.

Find out more here>>

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Hollis Johnson/Business Insider

We just got the best look yet at the consumer genetics market ahead of 23andMe's public debut. Here are the 5 biggest obstacles the $3.6 billion company will have to overcome.

• 23andMe is going public via a reverse merger with Richard Branson's SPAC.
• The DNA-testing startup will be worth $3.6 billion when the deal is completed.
• The filings provide a clear look behind the scenes of the troubled consumer genetics industry.

Get the full analysis here>>

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World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus attends a news conference organized by Geneva Association of United Nations Correspondents (ACANU) amid the COVID-19 outbreak, caused by the novel coronavirus, at the WHO headquarters in Geneva Switzerland July 3, 2020.

Fabrice Coffrini/Pool via REUTERS

The WHO's leader said its investigation into whether the coronavirus leaked from a Wuhan lab was not 'extensive enough'

• After an investigation, the WHO said it's "extremely unlikely" the coronavirus leaked from a lab.
• But the WHO's director-general said its investigation of that theory wasn't "extensive enough."
• There's no evidence the virus had been in any labs, but the WHO couldn't conduct a full audit.

Find out more here>>

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A Walmart Health clinic with counseling, labs, optometry, primary care, dental, and hearing services.

Walmart Health

A top Walmart healthcare exec is leaving the retail giant

• Dr. Thomas Van Gilder, the chief medical officer at Walmart, is leaving the retail giant.
• Gilder is leaving to pursue new opportunities, according to an internal memo seen by Insider.
• His departure comes after Sean Slovenski, president of Walmart health and wellness, left in August 2020.

Read the full memo sent to staff here>>

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More stories we're reading:

• CVS vaccine appointments are fully booked in nearly every New York county hours after eligibility opened up to people 30 or older (Insider)
• The FTC is challenging Illumina's planned acquisition of cancer-detection company Grail (a company Illumina once spun out) (The Wall Street Journal)
• Watch: Maternal health experts answer your questions about the COVID-19 vaccine in pregnancy (Insider)
• Operation Warp Speed lives on under the Biden administration, now called "The Operation" (Stat News)

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- Lydia

Read the original article on Business Insider

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