Pixarbio founder & CEO Frank Reynolds reportedly faces two decades behind bars after a jury yesterday convicted him of defrauding investors of nearly $13 million. Federal authorities arrested Reynolds, longtime friend and Pixarbio employee Jay Herod and PixarBio CIO Kenneth Stromsland in April 2018 on securities fraud charges, claiming they misled investors about the opioid substitute […]
Judge adds $10m in damages in Vectura-GSK patent spat
This article has been updated with a statement from Glaxo Smith Kline. A federal judge in Delaware has awarded British inhaler company Vectura an additional $10.5 million in compensatory damages from Glaxo Smith Kline (NYSE:GSK) in a patent dispute. In May, a jury awarded Vectura $89.7 million in damages for the period from August 2016 […]
Dexcom claims win in patent war with AgaMatrix unit WaveForm
Dexcom Inc. (NSDQ:DXCM) last week claimed a win along one front of its patent war with AgaMatrix subsidiary WaveForm Technologies, when an Oregon federal court dismissed a lawsuit alleging that its continuous glucose monitors infringe WaveForm patents. Wilsonville, Ore.-based WaveForm sued Dexcom in March 2016, alleging infringement of a trio of patents covering a compound […]
Mylan agrees to settle SEC EpiPen probe for $30 million
Mylan (NSDQ:MYL) is nearing a $30 million settlement with the Securities and Exchange Commission (SEC) over an investigation involving the company’s EpiPen auto-injector and the Medicaid drug rebate program. The SEC probe was announced in 2016, shortly after Mylan agreed to pay $465 million to the U.S. Department of Justice to settle claims that it […]
SEC accuses lawyers in $1.7m PixarBio fraud
The U.S. Securities & Exchange Commission this week accused a coterie of lawyers of securities fraud in connection with nearly $1.7 million in illicit stock sales involving PixarBio. The scheme began in the fall of 2014, the SEC alleged, when Connecticut lawyer Henry Sargent formed a shell company called BMP Holdings and coaxed $1,680 from […]
Vectura seeks another $44M in GSK patent win
Fresh off its $89.7 million jury award in a patent infringement case against GlaxoSmithKline (NYSE:GSK), British inhaler company Vectura has petitioned the court for an additional $44 million. On May 16, a jury in U.S. District Court for the District of Delaware awarded Vectura damages for the period from August 2016 through December 2018 for […]
Plaintiffs appeal Ocular Therapeutix win in shareholder lawsuit
Ocular Therapeutix (NSDQ:OCUL) is facing a revived class-action lawsuit lodged by investors after its share price took a hit after it revealed problems with its Dextenza device. The lawsuit, filed in the U.S. District Court for Massachusetts in November 2017, alleged that the Bedford, Mass.-based company misled shareholders about problems found by FDA inspections in 2017 […]
Vectura wins $89.7m in patent infringement case against GlaxoSmithKline
Vectura said this week that it has settled a U.S. patent infringement litigation with GlaxoSmithKline and was awarded $89.7 million in damages. Following a jury trial in the U.S. District Court for the District of Delaware, Ventura was awarded damages for the period from August 2016 through December 2018 for an infringement on Vectura’s U.S. […]
Ocular Therapeutix settles Mati Therapeutics patent spat, logs CMS win for Dextenza
Ocular Therapeutix (NSDQ:OCUL) said this week it settled a patent spat with Mati Therapeutics and that it won reimbursement from the Centers for Medicare and Medicaid Services for its Dextenza ocular insert. In an SEC filing posted yesterday, the Bedford, Mass.-based company said that it settled its litigation with Mati Therapeutics and that both parties dismissed […]
Smiths Medical, United Therapeutics conspired to stifle generic Remodulin, Sandoz alleges
Smiths Medical allegedly conspired with United Therapeutics to stifle a generic version of pulmonary arterial hypertension drug Remodulin, according to a lawsuit filed this week by Novartis (NYSE:NVS) unit Sandoz. The Smiths Group (LON:SMIN) subsidiary, which is slated for a spinout as a separately traded company next year, makes the infusion pumps and single-use cartridges for […]
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