Teva Pharmaceuticals (NYSE:TEVA) employee Robert Huellemeier launched a proposed class action suit against the generic drugmaker this week, alleging that the company hid that it was under investigation for price fixing and bribery. Huellemeier, who bought TEVA shares through a company program, accused the company of leaving out any mention of multiple investigations in regulatory notes […]
Legal News
Anika inks $350k settlement with former CMO Mascioli, hits $5m milestone
Anika Therapeutics (NSDQ:ANIK) said last week that it agreed to pay former chief medical officer Dr. Stephen Mascioli $350,000 “for all alleged damages and attorneys’ fees.” In return, Mascioli agreed not to pursue legal action against the Bedford, Mass.-based company. Mascioli departed from Anika in January this year, after spending less than a year there. According […]
EU antitrust officials charge Teva in ‘pay-for-delay’ deal
Antitrust regulators in the European Union charged Teva Pharmaceuticals (NYSE:TEVA) today, accusing the company of arranging an illegal deal with Cephalon to delay the sale of a cheap generic version to Cephalon’s sleep disorder drug, modafinil. The EU competition officials have unleashed a series of fines against an array of companies in recent years over similar […]
Judge rules that Mylan can’t move EpiPen antitrust suit
New Jersey federal judge Freda Wolfson rejected Mylan‘s (NSDQ:MYL) request to move an antitrust lawsuit brought against the EpiPen maker to Kansas. Mylan previously claimed that moving the case to Kansas would consolidate it with other class actions from EpiPen buyers – all of which are alleging violations of antitrust laws. Wolfson blocked the request […]
Mallinckrodt wins orphan drug status for long-acting muscular dystrophy therapy
Mallinckrodt Pharmaceuticals (NYSE:MNK) said today that the FDA granted orphan drug status to its long-acting cosyntropin acetate formulation, MNK-1411, for the treatment of Duchenne muscular dystrophy. In August last year, the FDA approved the company’s request to fast track its investigational new drug application for the therapy. “We are pleased the FDA has granted orphan drug status to […]
Generic drug trade association sues over Maryland’s price gouging law
In June, Maryland became the 1st state to pass a law in an attempt to ban price gouging by generic pharmaceutical manufacturers. The bill passed without the governor’s signature, who took issue with the bill’s language. Governor Larry Hogan said that his chief counsel raised legal and constitutional concerns about the bill. Now, generic drug […]
Insulet asks court to force docs from Unilife in Chap 11 sale
A Delaware judge this week ordered formal submissions from both Unilife (NSDQ:UNIS) and Insulet (NSDQ:PODD) as the companies fought over Unilife’s Chapter 11 sale, with Insulet claiming Unilife is selectively refusing to supply appropriate information and restricting it’s ability to participate. Insulet claims that Unilife has not provided it with enough data to make an informed bid […]
Mylan defends chairman to shareholder advisory firm amid scrutiny
Mylan (NSDQ:MYL) defended chairman Robert Coury to Institutional Shareholder Services, an shareholder advisory group, earlier this week as the firm prepares to release a report advising shareholders how they should vote in the upcoming re-election of Coury and other directors. Major investors like the New York City and State pension funds have urged shareholders to vote against […]
Kentucky doc gets jail time for bad opioid prescription habits & Medicaid fraud
Dr. George Kudmani, an OB/GYN from Kentucky, was sentenced to 4 years in prison this week after a federal jury ruled that he was guilty of inappropriately doling out opioids and Medcaid fraud. The jury found Kudmani guilty of 19 counts of unlawful distribution of controlled substances and 8 counts of health care fraud. After Kudmani serves his […]
Express Scripts, CVS sued over Mylan’s EpiPen
Express Scripts (NSDQ:ESRX) and CVS Health (NYSE:CVS) were among the pharmacy benefit managers named in a lawsuit last week, when a potential class of patients accused them of violating the Employee Retirement Income Security Act by failing to negotiate lower prices for Mylan’s EpiPen allergy auto-injector. The suit, filed in the Minnesota District Court, alleges that […]
