Legal
Over and over there are reports about the increasing rise of antibiotic resistant bugs. Even as the number of resistant bacteria increases, the number of companies developing new types of antibiotics is decreasing.
The executives, convicted under the RICO Act, were found guilty of bribing prescribers and defrauding insurers in order to increase sales of Subsys, a powerful opioid pain killer intended for use with cancer patients.
Biopharma has several unique challenges, but one of them is the patent cliff. In an industry where only about one in 10 compounds actually makes it to market on average, those drugs aren’t able to stay on the market very long before their patents end and generic competition begins.
Days after the Federal Bureau of Investigation raided the offices of Bay Area-based uBiome over allegations of illegal billing practices, the company’s board of directors placed Jessica Richman and Zac Apte, the co-founders and co-chief executive officers of the company, on administrative leave.
The company disclosed the data breach in a filing with the U.S. Securities and Exchange Commission on Tuesday. The hacking occurred in March and the company said the data of about 1 percent of its total number of clients was compromised.
uBiome said it “does not have any control over physician billing. Any improper billing by physicians, if it occurred, is not related to uBiome’s billing practices,”
Four biotech companies recently filed with the U.S. Securities and Exchange Commission their plans for initial public offerings (IPO). Let’s take a look.
The federal anti-kickback statute prevents pharmaceutical companies from providing financial coverage of Medicare copay payments that would encourage patients to purchase a company’s medication.
Most of the luxuries that we enjoy are the result of patented developments, especially in the field of biotechnology. Every time we take a medication, enjoy a food or beverage, or undergo a surgical procedure, we benefit from advances in biotechnology that might not have been available for public use without patents.
The makers of blood pressure medications can face estimated 2,000 lawsuits over the alleged carcinogen-tainted medications. Check here how much they cost.
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