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☆ Martin Shkreli: I'm not in contempt over drug industry ban
▼ + stars: | 2023-02-10 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

The ban also included a $64.6 million civil fine, which Shkreli said he is "so far unable" to pay. He said he intended to comply fully with the ban and provide requested information. The FTC had accused Shkreli last month of failing to provide information about Druglike Inc, a company it said he formed last July. He also said Druglike and DL Software were "software companies creating professional software for chemists and physicists," and thus outside his pharmaceutical industry ban. U.S. District Judge Denise Cote, who imposed the ban and $64.6 million penalty, will decide the FTC contempt motion.

Much as he would have liked to significantly increase supplies, Biosca-Reig said he couldn't justify investing millions of euros in new production lines unless he was paid more for the generic drug to cover sharply rising costs. European generic drugmakers say the tender system and regulated prices have fuelled a race to the bottom, and European firms are being undercut by suppliers from Asia. BRUSSELS, WE HAVE A PROBLEMThe European Medicines Agency (EMA) and European Union lawmakers acknowledge there is a problem. Half the generic medicines sold in Spain are priced below 1.60 euros per box or bottle, the country's generics manufacturing association said. But companies with smaller market shares, such as Israel's Teva (TEVA.TA), which has 5% of the region's amoxicillin market according to Medicines for Europe, are constrained.

☆ Pfizer Expects Drop in Revenue as Vaccine Demand Wanes
▼ + stars: | 2023-01-31 | by ( Dean Seal | ) www.wsj.com time to read: 1 min

Pfizer touted 10 medicines or vaccines that generated more than $1 billion in revenue each. Pfizer Inc. expects revenue to drop by as much as a third in 2023 as demand for Covid-19 products continues to slump. The New York-based drug company said Tuesday that it is projecting revenue to be between $67 billion and $71 billion this year after jumping 23% to $100.3 billion in 2022. Stripping out Covid-19 products, Pfizer expects its 2023 top line to grow 7% to 9%.

☆ Billionaire Mark Cuban invested in digital-health's go-to pharmacy even though it struggled to keep up with orders from his drug-pricing company
▼ + stars: | 2023-01-25 | by ( Blake Dodge | ) www.businessinsider.com time to read: +3 min

Mark Cuban has invested in the online pharmacy Truepill, he confirmed to Insider. It works with Cuban's other healthcare bet Mark Cuban Cost Plus Drug Co.Mark Cuban's interest in breaking into the healthcare industry is heating up. In November, he backed the online pharmacy Truepill through its funding round, Cuban confirmed to Insider in an email. He's played an active role in his drug-pricing startup, which launched as the Mark Cuban Cost Plus Drug Co. in 2021. When asked about the delays, Cuban said Cost Plus Drugs' volume exceeded both companies' expectations.

☆ 16 breakout stocks are forming the bullish golden cross chart pattern
▼ + stars: | 2023-01-23 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

The names are forming a "golden cross" pattern, which is when the 50-day moving average crosses above the 200-day moving average. Its 50-day moving average is 6% above its 200-day moving average. Another solar company, First Solar , also made the list, with its 50-day moving average 18% higher than its 200-day moving average. Its 50-day moving average is 10% above its 200-day moving average. The company's 50-day moving average is 9% above its 200-day moving average.

☆ FTC calls for Martin Shkreli to be held in contempt of court for forming new drug company
▼ + stars: | 2023-01-20 | by ( Dan Mangan | Dan Mangan Is A Reporter Covering Health Care For Cnbc.Com. | Mangan Has Been A Journalist For More Than Years | ) www.nbcnews.com time to read: +2 min

The Federal Trade Commission on Friday asked that notorious “pharma bro” Martin Shkreli be held in contempt of court for forming a new drug company in violation of a judge’s ban on the convicted fraudster from working in the pharmaceuticals industry. Shkreli, who was released from prison last year, in February was banned “for life from directly or indirectly participating in any manner in the pharmaceutical industry” as a result of the FTC’s antitrust lawsuit against him and a prior drug company that he founded. That order stemmed from Manhattan federal court Judge Denise Cote’s ruling that Shkreli oversaw an illegal scheme to maintain a monopoly on the life-saving drug Daraprim, which continued even as he saw in prison for his conviction in an unrelated securities fraud case. “Martin Shkreli’s failure to comply with the court’s order demonstrates a clear disregard for the law,” said Holly Vedova, director of the FTC’s Bureau of Competition, in a statement. “The FTC will not hesitate to deploy the full scope of its authorities to enable a comprehensive investigation into any potential misconduct,” Vedova said.

☆ U.S. asks judge to hold Shkreli in contempt for allegedly flouting pharma industry ban -filing
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

[1/2] Former drug company executive Martin Shkreli exits U.S. District Court after being convicted of securities fraud, in the Brooklyn borough of New York City, U.S., August 4, 2017. REUTERS/Carlo AllegriWASHINGTON, Jan 20 (Reuters) - The U.S. Federal Trade Commission (FTC) asked a federal judge on Friday to hold Martin Shkreli in contempt for allegedly impeding its efforts to determine whether he flouted a ban on working in the pharmaceutical industry. Shkreli was released early from prison last May. U.S. District Judge Denise Cote imposed the lifetime drug industry ban and $64.6 million penalty last February, related to Shkreli's efforts to keep generic Daraprim rivals off the market. Reporting by Diane Bartz and Jon Stempel; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ Billionaire Mark Cuban has invested in yet another healthcare company: online pharmacy Truepill
▼ + stars: | 2023-01-20 | by ( Blake Dodge | ) www.businessinsider.com time to read: +3 min

Mark Cuban has invested in the online pharmacy Truepill, he confirmed to Insider. Truepill works with healthcare startups to send medications through the mail. It works with Cuban's other healthcare bet Mark Cuban Cost Plus Drug Co.Mark Cuban's interest in breaking into the healthcare industry is heating up. In November, he backed the online pharmacy Truepill through its funding round, Cuban confirmed to Insider in an email. He's played an active role in his drug-pricing startup, which launched as the Mark Cuban Cost Plus Drug Co. in 2021.

☆ FTC asks judge to hold 'pharma bro' Martin Shkreli in contempt of court for forming new drug firm
▼ + stars: | 2023-01-20 | by ( Dan Mangan | ) www.cnbc.com time to read: +4 min

The Federal Trade Commission on Friday asked that notorious "pharma bro" Martin Shkreli be held in contempt of court for forming a new drug company in violation of a judge's ban on the convicted fraudster from working in the pharmaceuticals industry. In its court filing Friday, the FTC noted that Shkreli in July announced the formation of a new company, Druglike, "that appears to be involved in the drug industry." The FTC said Shkreli is required by Cote's order to provide the agency with that information. Benjamin Brafman, a lawyer for Shkreli, declined to comment on the FTC filing. Shkreli was driven back to New York from his prison in Pennsylvania by a friend, Edmund Sullivan, who had previously served on the board of Retrophin.

☆ FTC calls on federal court to hold ‘pharma bro’ Martin Shkreli in contempt
▼ + stars: | 2023-01-20 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN —The Federal Trade Commission on Friday called for a federal court to hold “Pharma Bro” Martin Shkreli in contempt after Shkreli allegedly flouted a recent FTC investigation into his business dealings and failed to make a $64.6 million payment he owed for his prior wrongdoings. The FTC’s contempt motion follows what the agency described as its an unsuccessful attempt to verify whether Shkreli has violated a court order barring him from ever working in the pharmaceutical industry again. Shkreli also infamously raised prices for the life-saving medication Daraprim by 4,000% while he was head of Turing Pharmaceuticals. When the FTC emailed Shkreli to get documents from him and to schedule an interview about the matter, Shkreli repeatedly missed deadlines and allegedly slow-walked his responses, according to an FTC court filing Friday. The FTC also said Shkreli had been ordered to make his multimillion-dollar payment — representing a refund of his ill-gotten Daraprim gains — by March 6, 2022.

☆ Former CEO says Biogen 'shot themselves in the foot' by deciding to charge $56,000 for its controversial Alzheimer's drug
▼ + stars: | 2023-01-18 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +5 min

Former Biogen CEO George Scangos said the biotech priced its Alzheimer's drug Aduhelm too high. After the FDA approved the controversial treatment in 2021, Biogen set a $56,000 list price. "They shot themselves in the foot with the pricing," Scangos, now CEO of Vir Biotechnology, said. SAN FRANCISCO — The former CEO of Biogen told Insider the Massachusetts biotech priced its controversial Alzheimer's drug, Aduhelm, "way too high." "I think Aduhelm works.

☆ Novartis' CEO is charging ahead in cutting tens of thousands of workers to transform the $220 billion pharma giant
▼ + stars: | 2023-01-16 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +3 min

Novartis is laying off thousands of workers, CEO Vasant Narasimhan told Insider. Through layoffs and spinoffs, the Swiss giant expects to trim its headcount by about 30% by 2024. SAN FRANCISCO — Thousands of layoffs are "happening now," Vasant Narasimhan, the CEO of Novartis, told Insider, as he hopes the $220 billion Swiss giant is entering the final steps of becoming a smaller, more-focused drug company. The Swiss giant had about 125,000 full-time employees at the time, and it has about 108,000 workers today. The restructuring will save Novartis about $1.5 billion annually, Narasimhan said during his Monday presentation at the JPMorgan conference.

☆ The CEO of a psychedelics giant that just suffered a big setback lays out why investors should bet on his long-term vision
▼ + stars: | 2023-01-11 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +4 min

PCN-101, a ketamine-based treatment, failed to help people with treatment-resistant depression. CEO Florian Brand said he thinks investors should bet on the company's long-term vision. Florian Brand, the CEO of the psychedelics giant Atai Life Sciences, said investors should look past the company's recent failed clinical trial and bet on his long-term vision for the company. On January 6, Atai announced that a highly anticipated trial of a ketamine-based depression treatment failed to meet its goals. The company also owns a large stake in the psychedelics company Compass Pathways, which is currently in late-stage trials to develop psilocybin, the psychoactive ingredient found in magic mushrooms, for treatment-resistant depression.

☆ Katie Porter sets sights on fellow Democrat Dianne Feinstein's U.S. Senate seat
▼ + stars: | 2023-01-10 | by ( Moira Warburton | ) www.reuters.com time to read: +2 min

WASHINGTON, Jan 10 (Reuters) - U.S. Representative Katie Porter on Tuesday launched a campaign for U.S. Senate in California, taking aim at a seat currently held by fellow Democrat Dianne Feinstein, who has not said if she plans seek re-election in 2024. Feinstein, who has held the seat since 1992, has faced pressure to resign given that she is the oldest member of Congress at 89 years old. She has championed inflation-based caps for drug prices and making it unlawful to excessively hike gasoline prices. loadingFeinstein is a trailblazer in U.S. politics: the first woman to serve as mayor of San Francisco, first woman to serve on the Senate Judiciary Committee and now the longest-serving female senator. Reporting by Moira Warburton; Editing by Scott Malone and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

☆ Sen. Sanders asks Moderna not to hike COVID vaccine price
▼ + stars: | 2023-01-10 | by ( Michael Erman | ) www.reuters.com time to read: +2 min

[1/5] Boxes containing the Moderna COVID-19 vaccine are prepared to be shipped at the McKesson distribution center in Olive Branch, Mississippi, U.S. December 20, 2020. Senator Bernie Sanders sent Moderna Inc (MRNA.O) a letter this week asking the drug company to halt planned U.S. price increases on its COVID-19 vaccine, saying price hikes could make the shot unaffordable for millions of Americans. Sanders said in his letter that raising prices would be particularly egregious after the U.S. government provided around $1.7 billion to fund development of the vaccine. The Vermont senator has railed against high drug prices and backed Medicare-for-all, and his chairmanship of the HELP committee could put drug companies in his crosshairs. Moderna's COVID-19 vaccine sales were around $18.4 billion in 2022.

☆ French drug company Servier launches Mediator appeal
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

Companies Servier Laboratories Ltd FollowPARIS, Jan 9 (Reuters) - French drugmaker Servier on Monday launched its appeal against manslaughter and deception convictions handed down by a Paris court in 2021 in connection with weight-loss pill Mediator. The company was fined 2.7 million euros ($2.88 million) for concealing Mediator's risks, and ordered to pay more than 180 million euros in compensation and interest to victims. Servier is appealing more than half a dozen convictions against the company and former head of operations Jean-Philippe Seta, including for manslaughter with wilful misconduct, involuntary injury, fraud and deception. "Servier Laboratories and Jean-Philippe Seta still refute having deliberately deceived patients and their prescribing doctors over the dangers of Mediator," Francois De Castro, a lawyer for the company, told AFP ahead of the appeal. ($1 = 0.9373 euros)Writing by Richard Lough, Editing by Dominique Vidalon and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.

☆ Investor Steve Weiss prefers Moderna over Merck, says it’s a high quality stock with a bigger pipeline
▼ + stars: | 2022-12-21 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Stephen Weiss, chief investment officer and managing partner at Short Hills Capital Partners, bought Moderna , and sold Merck — though he still expects the latter is a solid pharmaceutical stock. "Some days I regret selling because it's still a cheap stock, still extremely well-run, I think the best-run pharma company." Moderna shares have recently attracted investors' interest following the announcement of an experimental melanoma vaccine . Shares of Moderna are down roughly 18% this year, while shares of Merck is up nearly 45% in 2022. To this, Weiss added that "there's no other drug company, biotech company" with the pipeline that Moderna has.

The Mark Cuban Cost Plus Drug Company negotiates directly with drugmakers. So far, that's been the strategy for the Mark Cuban Cost Plus Drug Company. In October, Cost Plus Drug Company announced a partnership with Capital Blue Cross. Cuban said he wanted Cost Plus Drug Company to be as transparent as possible on pricing. Cost Plus Drug Company is considering a test program for insulin that would offer a 90-day supply of insulin, or a total of 12 vials, for $170.

☆ Cramer's lightning round: You can pick up some shares of IBM on Friday
▼ + stars: | 2022-12-15 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Loading chart...Oshkosh Corp : "I think it's a slow grower. Could be real interesting, though." Loading chart...International Business Machines Corp : "I think you can actually pick some up tomorrow." Loading chart...REX American Resources Corp : "I'm going to have to say ixnay on that one." Loading chart...Lightwave Logic Inc : "I do not know that stock."

Amgen Inc. is in advanced talks to buy drug company Horizon Therapeutics PLC, according to people familiar with the matter, in a takeover likely to be valued at well over $20 billion and mark the largest healthcare merger of the year. The U.S. biotechnology company was the last of three suitors standing in an auction for Horizon, the people said, after French drugmaker Sanofi SA said Sunday it was out of the running.

☆ Brett Favre files motion to dismiss lawsuit in Mississippi welfare fraud case
▼ + stars: | 2022-11-29 | by ( Laura Strickler | Laura Strickler Is A Washington-Based Investigative Reporter With The Nbc News Investigative Unit. | ) www.nbcnews.com time to read: +2 min

Attorneys for former NFL star Brett Favre filed court papers in Mississippi on Monday seeking to dismiss a civil lawsuit against him tied to a state welfare fraud scandal. Favre was sued in May by the state welfare agency after he received $1.1 million in federal welfare funds intended to lift children out of poverty in the poorest state in America. Favre’s attorneys say that he and his organization, Favre Enterprises LLC, repaid the funds and that Mississippi officials are to blame for the misspending. "Mr. Favre never had any control over how Mississippi spent its welfare funds. Six people have been charged in what state and federal officials call a massive fraud scheme to misspend state welfare funds, including the former director of the state welfare agency, who is cooperating with the FBI and federal prosecutors.

Elon Musk's Twitter account displayed on a mobile with Elon Musk in the background are seen in this illustration. Leaders of major civil rights groups are denying accusations made by Elon Musk, who said they broke an agreement with him by encouraging companies to halt advertising on Twitter . "The main person responsible for the Twitter advertiser exodus is Elon Musk. "We're basically asking Elon Musk, who we all know is a rather creative person, to take leadership in this area," Cooper said. Under Musk's leadership, Twitter rolled out and promptly rolled back a Twitter Blue Verified subscription service, after users who purchased the badges were able to impersonate celebrities, politicians and brands.

☆ Elon Musk demands Twitter staff commit to 'long hours' or leave
▼ + stars: | 2022-11-16 | by ( Lora Kolodny | ) www.nbcnews.com time to read: +2 min

This week, he also fired veteran engineers at Twitter after they criticized him in public, or in the company’s internal Slack channels. Since Musk took over on Oct. 28, he has announced sweeping changes planned for Twitter. One change that he insisted the company roll out quickly, called Twitter Blue verification, had to be rescinded, however. Musk now plans a revised Twitter Blue Verified release on Nov. 29th. Here’s the full email that Elon Musk sent to Twitter employees on Wednesday (transcribed by CNBC):

☆ Elon Musk demands Twitter staff commit to 'long hours' or leave: Read the email
▼ + stars: | 2022-11-16 | by ( Lora Kolodny | ) www.cnbc.com time to read: +3 min

The Twitter profile page belonging to Elon Musk is seen on an Apple iPhone mobile phone. This week, he also fired veteran engineers at Twitter after they criticized him in public, or in the company's internal Slack channels. One change that he insisted the company roll out quickly, called Twitter Blue verification, had to be rescinded, however. Musk now plans a revised Twitter Blue Verified release on Nov. 29th. Here's the full email that Elon Musk sent to Twitter employees on Wednesday (transcribed by CNBC):From: Elon MuskTo: Team [at Twitter]Subj.

☆ SpaceX just bought a big ad campaign on Twitter for Starlink
▼ + stars: | 2022-11-14 | by ( Lora Kolodny | ) www.cnbc.com time to read: +6 min

SpaceX founder Elon Musk during a T-Mobile and SpaceX joint event on August 25, 2022 in Boca Chica Beach, Texas. The ad campaign SpaceX is buying to promote Starlink is called a Twitter "takeover." Users should see Starlink brand messaging for the first three times that they open the Twitter app on the day or days of the planned takeover campaign in Australia and in Spain. Pressure on Twitter ad salesMusk is also the CEO of electric vehicle maker Tesla , in addition to his responsibilities at SpaceX and Twitter. Instead, Tesla garners headlines from fan blogs, news sites, and creates buzz through motor clubs, fan or shareholder events and social media engagement.

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