In yet another clear sign that pharmaceutical companies are manufacturing a cure and have used the media and aggressive marketing to create a market, Clarus Therapeutics announced that they are resurrecting an IPO designed to back the launch of their new low testosterone drug Rextoro.
Clarus first mounted the IPO for Rextoro three years ago but withdrew it due to lack of market interest. Now with Low T clinics opening across the nation Clarus has mounted a bid to raise $86 million in venture capitol to launch Rextoro. In the IPO the company has announced the drug has gone through Phase III studies and was submitted to the FDA in January.
Everyone in Florida is required by law to have Personal Injury Protection (PIP) automobile insurance. PIP is your personal policy for medical coverage for up to $10,000, whether you are at fault or not. Seems simple, but is it?
Not really. If your injuries are not reported by a medical doctor to be emergency-related medical condition, PIP only pays up to $2,500. To make matters worse, if you do not see a medical doctor or go to a medical facility within 14 days of your accident, your PIP claim can be completely denied. We are fighting to repeal this law, but until we succeed, this is Florida Law.
A civil trial in Las Vegas is pitting two cancer victims against Takeda Pharmaceuticals, the maker of the diabetes drug Actos. This comes only a month after a Louisiana jury ordered Takeda to pay $6 billion in punitive damages in another case involving Actos.
The trial in Las Vegas has been marked by the use of ultra-aggressive tactics by Takeda’s defense attorneys. Early in the trial Takeda’s counsel made antagonistic attempts to have District Judge Kerry Earley removed from the case, raising vague questions of impropriety.
It was announced last week that Stephen Nichols, of Fort Collins CO, is planning to sue Abbott Laboratories subsidiary AbbVie, the manufacturer of the popular testosterone treatment AndroGel. Nichols joins the growing number of suits being filed against the makers of AndroGel including ones already filed in Illinois and Lousiana.
Nichols suffered a heart attack after he was prescribed AndroGel to treat low testosterone. It was only after the heart attack that he learned the FDA is investigating the safety of testosterone treatments. Recent studies have also linked the treatments to an increased risk of strokes, heart attack and death.
Father Greg Reynolds of Melbourne, Australia publically advocated for the ordination of women and was excommunicated by Pope Francis.
Father Carlos Urrutigoity was accused of molesting boys in Shohola and Moscow, PA, and was transferred to a parish in Paraguay – where he now holds the number 2 position in his diocese.
Neither of these cases surprises me, nor did the testimony of the Vatican’s U.N. ambassador to the U.N.’s Convention Against Torture in Geneva yesterday. When pressed about the Catholic Church’s responsibility in cases of priests sexually abusing children, Archbishop Silvano Tomasi responded strongly, “It should be stressed, particularly in light of much confusion, that the Holy See has no jurisdiction over every member of the Catholic Church.”
On April 24, 2014, Zimmer Holdings announced that it will purchase Biomet, Inc., for $13.35 billion. The sale is expected to go through by the first quarter of 2015.
Zimmer Holdings has agreed to include Biomet’s “net debt” in the purchase. In the meantime, Biomet is being sued nationally and globally over its Magnum M2a Hip Replacement System. The pending sale may be one reason Biomet agreed to a $56 million settlement of all its U.S. Magnum M2a lawsuits in an effort to reduce its net debt.
The New York Times reported yesterday that Endo International agreed to pay $830 million to resolve legal claims from women who say they were injured by transvaginal mesh devices marketed by the company..
The company still refuses to admit liability or fault for the defective devices, but announced that the agreement would cover most of the mesh litigation brought against its American Medical Systems subsidiary.
The claims Endo is agreeing to settle are among thousands that have been filed against medical device makers. Along with Endo and American Medical Systems, suits have been brought against C.R. Bard, Boston Scientific, and Johnson & Johnson’s Ethicon unit.