04.07.2012 - GSK has been fined a record $3bn for drug fraud. The UK-based company admitted it had made inappropriate hospitality offerings to bribe physicians.
The pharma giant invited health care practitioners to enjoy deep-sea fishing, hot air balloon rides and golfing days in Hawaii. The company hoped the practice would mean doctors would prescribe more of their drugs. The case, described as "unprecedented in both size and scope" by deputy US attorney general James Cole, included allegations that GSK promoted two drugs for unapproved uses and failed to report safety data about a diabetes drug to the Food and Drug Administration (FDA).
Problems were first flagged up in 2001, when a whistle blower sparked internal investigations within the company. An official investigation begun by the US Attorney's office of Colorado in 2004 and was later taken over by the US Attorney's Office of Massachusetts. With its admission of guilt, GSK agreed to pay $1bn in criminal fines and forfeits and additional $2bn to settle civil claims. "Whilst these originate in a different era for the company, they cannot and will not be ignored", stated Andrew Witty, Glaxosmithkline chief executive, adding that the company has fundamentally changed its procedures for compliance, marketing and selling to avoid further misbehaviour.
20.07.2016 Belgian molecular diagnostics company Biocartis Group NV has raised €55m and will use the funds mainly to expand manufacturing capacities for its PCR-based molecular diagnostics system Idylla.
19.07.2016 It is Europe’s first gene therapy company to float on Euronext: Gensight raised €40m in its IPO. And it is not the only French company that has taken the leap in an uncertain market climate – Alzheimer’s expert Pharnext also went public.
18.07.2016 When NASA blasted off to the International Space Station on Monday morning, it had UK tech on board. A miniature DNA sequencer from Oxford Nanopore will be used to keep an eye on the ISS atmosphere – and may even analyse alien DNA one day.
13.07.2016 Cell Medica has acquired Swiss antibody specialist Delenex Therapeutics. The deal nets the British cellular therapeutics developer Delenex’ proprietory antibody fragment platform Pentrabody.
12.07.2016 Vienna-based vaccine specialist Themis Bioscience GmbH has secured broad access to a promising virus vaccine vector tech by extending its license agreement with French Institut Pasteur. Its goal: to develop a Zika vaccine.
07.07.2016 Californian biopharma Medivation has agreed to confidential negotiations with its suitors, in particular the French pharmaceutical company Sanofi, which aggressively has buffeted the cancer therapy specialist for months.
06.07.2016 The European Commission started an investigation into Illumina’s and Sequenom’s 2014 patent agreement, UK-competitor Premaitha Health said. The two US companies had agreed to pool their Noninvasive Prenatal Testing IP.
04.07.2016 Cinfa Biotech is shuffling for position on the lucrative biosimilar market. The Spanish-German company has published positive results in a study for a pegfilgrastim copycat with 172 healthy volunteers in Germany.
30.06.2016 UK’s Heptares Therapeutics and Paul Scherrer Institute spinoff leadXpro will collaborate to find new approaches for the determination of high-res X-ray structures of G protein-coupled receptors to find new drugs.
Merck’s advanced water purification system with new high-throughput line delivers up to 9,000 liters of pure water daily with real-time monitoring and ensures constant water quality with low and predictable running costs. more