Los Angeles Business Journal

LA HEALTHCARE

Recent and archived news stories on: Biotechnology, Doctors, Drugs, Health Insurance, HMO's/PPO's, Hospitals, Medical Devices, Nursing...

Medium-Sized Businesses Face Big Obamacare Bill

INSURANCE: Analysts warn failing to properly document this year will bring fines.Analysts fear Obamacare filing requirements for 2015 could do a number on unprepared employers next year.

By Marni Usheroff March 30, 2015 midnight   $$ Share

Briefs: Medbox Climbs, LMU Names New President, Kirk Douglas Donates

Medbox Climbs Medbox Inc. shares jumped 17 percent on Friday to $1.65 after the West Hollywood marijuana dispensing firm filed its first annual report and first regulatory filing since restating previous years’ financials.

POLL: Is your business all square with Obamacare?

Every week the Los Angeles Business Journal asks readers their views on a variety of business and economic issues. A running tally is available on the site and later will be published in the Commentary section of our print edition. Our latest poll is available on the bottom right column of our home page.

Local Woman Wins $28 Million From Kaiser

A jury awarded a Chatsworth woman $28 million on Thursday after agreeing that Kaiser Permanente’s Woodland Hills facility bungled the treatment for what turned out to be a cancerous tumor, according to the woman’s law firm.

Briefs: Kite Pharma Sinks on Q4 Loss, Arts District Site Sells for $130 Million

Kite Pharma’s Shares Fall After Q4 Loss Despite detailing a year full of landmark deals in its 2014 earnings report, Santa Monica biotech firm Kite Pharma Inc.’s shares fell 7.26 percent to $57.75 on Thursday.

VCA Buys Vet Lab for $21 Million

VCA Inc. announced Friday that its lab division, Antech Diagnostics Inc., has agreed to buy the assets of Abaxis Veterinary Reference Laboratory from medical products company Abaxis Inc. of Union City for $21 million in cash.

Amgen Loses Bid to Halt Biosimilar

A federal judge on Thursday denied Amgen Inc.’s bid to stop the sale of a biosimilar form of Neupogen, the company’s infection-fighting blockbuster drug for cancer patients.

Herbalife’s Shares Rise After Lawsuit Dismissed

Shares of Herbalife Ltd., the downtown Los Angeles nutritional supplement company, rose Wednesday after a judge dismissed a lawsuit brought by shareholders alleging they lost money because the business was an illegal pyramid scheme.

Therapists Arrested for Insurance Fraud Case

Two Playa del Rey therapists were arrested Tuesday for health insurance fraud after allegedly billing Anthem Blue Cross for services amounting to $3.5 million that they never provided, according to the California Department of Insurance.

Kite Purchases Dutch Firm, Opening European Beachhead

Santa Monica biopharmaceutical firm Kite Pharma Inc. has acquired a Dutch biotech company in a deal valued at more than $21 million, using the private firm to establish its European headquarters in Amsterdam.

Report: Feds Investigate Ackman Hires

The Federal Bureau of Investigation and federal prosecutors are examining people hired by hedge fund manager William Ackman about potential manipulation of Herbalife Ltd. stock, according to the Wall Street Journal.

Amgen Laying Off 300, Closing Onyx

Amgen Inc. plans to lay off 300 workers at its Onyx subsidiary in South San Francisco, and transfer others to its Thousand Oaks headquarters.

Prime Pulls Plug on Hospital Acquisition

Prime Healthcare Services has withdrawn its $843 million bid for Daughters of Charity’s ailing hospitals, including two in L.A. County, in the face of stringent conditions imposed by state Attorney General Kamala Harris.

Double-Chin Drug Maker Makes Stock Offering

Kythera Biopharmaceuticals Inc. announced on Tuesday a $125 million secondary offering as it anticipates FDA approval of its lead drug candidate, a drug that reduces double chins.

FDA Panel Approves Kythera Chin Fat Drug

A Food and Drug Administration panel on Monday recommended approval of Kythera Biopharmaceuticals Inc.’s novel treatment for chin fat.

FDA Approves Biosimilar, Amgen's Rival

Amgen Inc. will face new competition after Novartis AG secured the first-ever FDA approval to sell a “biosimilar” drug – provided it can overcome a legal challenge by the Thousand Oaks company.