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 […]
PolarityTE reveals SEC investigation
PolarityTE (NSDQ:PTE) this week revealed that it is the target of an SEC investigation into possible violations of federal securities laws. The Salt Lake City, Utah-based company said that it received a copy of a formal order of investigation from the SEC on March 4, exploring possible violations of fraud and price manipulations, according to an […]
Former PixarBio worker pleads guilty in fraud case
A former PixarBio (OTC:PXRB) employee pleaded guilty last Friday to charges of fraud and obstruction, according to a recent report from the Boston Business Journal. The employee, Jay Herod, was accused of making false statements to the SEC and impeding their investigation, as well as manipulating company stock trades and misleading investors, according to the report. […]
Baxter cleared from DoJ antitrust saline probe
Baxter (NYSE:BAX) said yesterday that it has been cleared from a U.S. Dept. of Justice antitrust probe, launched in 2017, investigating companies that market intravenous saline solutions. The probe came as hospitals endured a shortage of intravenous saline solutions, which are used to hydrate hospital patients. The shortage dates back to late 2013, after drugmakers told […]
Del. supremes uphold Fresenius bailout on Akorn buy
Delaware’s Supreme Court ruled last week to uphold a decision by the state’s Chancery Court that Fresenius (ETR:FRE) could walk away from its $4 billion merger with Akorn (NSDQ:AKRX). The initial deal was designed to help Fresenius move into new therapeutic areas and dosage forms, including eye drugs, ear drops, nasal sprays and respiratory drugs. But Fresenius abandoned the […]
Dr. Reddy’s notches win for generic Suboxone sublingual film
Shares in Dr. Reddy’s Laboratories (NYSE:RDY) shot up yesterday after the U.S. Court of Appeals for the Federal Circuit vacated a previous decision that blocked the company from selling a generic verson of Indivior‘s (LON:INDV) Suboxone buprenorphine and naloxone sublingual film. Dr. Reddy’s said it plans to resume launch activities for the product, which won FDA […]
Fresenius cleared to jilt Akorn, court rules
The Delaware Chancery Court ruled this week that it can’t force Fresenius (ETR:FRE) to follow through with its $4.75 billion merger with Akorn (NSDQ:AKRX). The deal was designed to help Fresenius move into new dosage forms and therapeutic areas, including ophthalmic drugs, ear drops, nasal sprays and respiratory drugs. But Fresenius walked away from the deal in April, […]
Clovis forks over $20m to settle SEC charges that it misled investors
The SEC said today that Clovis Oncology (NSDQ:CLVS), its CEO and former CFO will pay more than $20 million to settle charges that the company misled investors about its experimental lung cancer drug. The SEC alleged that beginning in July 2015 and over the course of a four-month period, CEO Patrick Mahaffy and his team […]
AngioDynamics to pay $13m to settle False Claims charges
AngioDynamics (NSDQ:ANGO) agreed to pay a total of nearly $13 million to settle charges that it broke the False Claims Act for a chemotherapy delivery device and a peripheral vein treatment. Latham, N.Y.-based AngioDynamics distributed the LC Bead embolization microspheres made by BTG (LON:BTG) subsidiary Biocompatibles. Although cleared for embolizations, the companies allegedly marketed LC Bead from May […]
Insulet settles shareholder suit over Omnipod Eros device
Insulet (NSDQ:PODD) shareholders have agreed to settle a lawsuit alleging that the device-maker misrepresented the success of its Omnipod Eros roll-out in 2013. The financial details of the settlement were undisclosed, but it includes $425,000 in attorney fees and an array of corporate compliance enhancements that Insulet plans to adopt. Shareholders Raqim Walker and Frank Carnazza alleged […]
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