AstraZeneca, Cephalon, and Biogen Idec to Pay $55.5 Million to Resolve False Claims Act Allegations Made By Whistleblower Ronald Streck

 

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PHILADELPHIA, July 7, 2015 /PRNewswire/ — Berger & Montague, P.C., Under the agreements, AstraZeneca will pay the largest sum, $46.5 million.  Cephalon will pay $7.5 million, and Biogen will pay $1.5 million.  The case, pending in federal court in the Eastern District of Pennsylvania, is captioned U.S. ex rel. Ronald Streck v. AstraZeneca, LP, et al., C.A. No. 08-5135.The law firms represent whistleblower Ronald Streck, who alleged that the companies defrauded the federal and state governments by under-reporting their Medicaid rebate obligations.  Medicaid is a joint federal and state program that primarily serves the poor and the elderly, America’s most vulnerable citizens.  Mr. Streck became aware of the alleged fraud while working in the pharmaceutical distribution industry in the mid-2000’s.  He filed suit in 2008.  With these three settlements, and the years of hotly-contested litigation that led to them, Mr. Streck has helped changed the way pharmaceutical manufacturers report their prices to government authorities.

Novartis’ new heart failure medicine LCZ696 approved by FDA to reduce risk of cardiovascular death and heart failure hospitalization; now called Entresto™ (sacubitril/valsartan)

/ PR Newswire / — Novartis announced today that the US Food and Drug Administration (FDA) has approved Entresto™ (sacubitril/valsartan) tablets, previously known as LCZ696, to reduce the risk of cardiovascular death and hospitalization for heart failure in patients with chronic heart failure (NYHA Class II-IV) and reduced ejection fraction (HFrEF). It is usually administered in conjunction with other heart failure therapies, in place of an ACE inhibitor or other angiotensin receptor blocker (ARB).1 Reduced ejection fraction means the heart doesn’t contract with enough force, so less blood is pumped out.6

Clovis Oncology Announces Proposed Offering of Common Stock

BOULDER, Colo.–(EON: Enhanced Online News)–Clovis Oncology (NASDAQ:CLVS) announced today that it has commenced an underwritten public offering of shares of its common stock to raise aggregate proceeds of approximately $275 million. All shares of the common stock to be sold in the offering will be offered by Clovis Oncology. read more

Oregon Cannabis Legislation Opens New Business Opportunities for GTSO

SAN JOSE, Calif.–(EON: Enhanced Online News)–New cannabis laws taking effect this month have made the state of Oregon the new frontier in the United States’ rapidly expanding “green rush” economy, and Green Technology Solutions, Inc. (OTCBB:GTSO) is making plans to capitalize on the industry’s growth. on Cannabis Legislation Opens New Business Opportunities for GTSO read more

AXON Neuroscience’s Vaccine to Halt Alzheimer’s Finishes Phase 1 Clinical Trial

BRATISLAVA, Slovakia–(BUSINESS WIRE)–A revolutionary vaccine offering new hope for millions of Alzheimer’s disease patients, their physicians and caregivers has passed a Phase 1 safety trial, according to the creator of the vaccine, biotech firm AXON Neuroscience. This makes AXON the first company to successfully complete a Phase 1 study with an active immunotherapy treatment aimed at diseased tau proteins that cause neural degeneration in Alzheimer’s patients. The vaccine is designed to stimulate patients‘ immune systems to attack these diseased proteins, and halt the progress of Alzheimer’s disease. read more

Safe Orthopaedics Announces the Release of the Auto-Adjust Pedicle Screw System for Repairing Traumatic Spine Injuries (Paris:SAFOR) (Euronext: FR0012452746 – SAFOR), a company developing and marketing an innovative range of sterile implants combined with their single-use surgical instruments, today announces the first use of its new Auto-Adjust pedicle screw in surgical procedures to repair thoracic and lumbar spine fractures. For more information, visit: www.SafeOrtho.com

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