Los Angeles Business Journal


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

Loeb Ups Stake in Amgen, Calls for Breakup

Shares of Amgen Inc. jumped nearly 5 percent Tuesday on heavy volume after billionaire hedge fund manager Dan Loeb disclosed he had upped his stake in the company and called for its breakup.

Amgen, Gates Foundation to Develop Ebola Treatment

Amgen Inc. is teaming with the Bill & Melinda Gates Foundation to develop a faster production method for Zmapp, an experimental Ebola treatment, according to the company.

Wounded Veterans to Test NeuroSigma Device

Less than a week after postponing its initial public offering, West L.A. medical device maker NeuroSigma announced Wednesday that it has entered into a research and development agreement with U.S. Veterans Affairs for a clinical trial.

Florida Firm Checks in to Glendale Hospital

A small medical office building in Glendale sold earlier this month for a big price. CNL Healthcare Properties, a real estate investment trust out of Orlando, Fla., purchased the Lee Hughes Medical Building at 1500 E. Chevy Chase Drive for $29.9 million, nearly $443 a square foot.

Union Threatens Fight Over Hospital Sales

Despite union opposition, the Daughters of Charity Health System’s board of directors approved on Friday the sale of its six California hospitals – including St. Vincent Medical Center near downtown Los Angeles – to Prime Healthcare Services of Ontario.

Amgen Gains on Trial Results for Humira Competitor Drug

Amgen Inc. shares rose nearly 3 percent on Wednesday after the company released positive study results for a “biosimilar” drug that would compete against Humira, a blockbuster produced by a competitor.

Soon-Shiong’s NantHealth Raises $250 Million From Kuwait Fund

NantHealth, the health care technology division of billionaire Patrick Soon-Shiong’s Culver City holding company NantWorks LLC, said Wednesday it has raised $250 million in additional funding from the Kuwait Investment Authority.

Amgen Seeks Approval for Leukemia Drug

Amgen Inc. announced on Monday that it is seeking regulatory approval to sell a drug for treating a rare and particularly deadly form of leukemia.

Kite Pharma Stock Surges After Cancer Study Announcement

Shares of Santa Monica’s Kite Pharma surged nearly 30 percent in after-hours trading Monday after the clinical-stage biotech company announced the publication of clinical results demonstrating the potential of its KTE-C19 drug to treat aggressive non-Hodgkin's lymphoma

Second Sight Prepares IPO

Second Sight, a Sylmar company founded by billionaire Alfred Mann to develop an artificial retina for blind patients, filed paperwork for an initial public offering on Tuesday.

Torrance Memorial Medical Center, USC Have New Affiliation

A new affiliation between Torrance Memorial Medical Center and USC Keck School of Medicine is expected to increase the former’s ability to provide heart surgery services.

L.A. Billionaire Now With Providence Health

L.A. billionaire and biotech entrepreneur Dr. Patrick Soon-Shiong will become the global director for cancer services and bioinformatics at Providence Health & Services, the hospital chain announced on Thursday.

Molina Net Income Falls Short

Molina Healthcare Inc. reported meager earnings after markets closed Wednesday, falling well short of Wall Street expectations on profits.

USC’s Keck Acquires OC-Based Practice for Cancer Network

Keck Medicine of USC, the University of Southern California’s medical enterprise, has acquired Orange Coast Oncology Hematology Medical Associates for an undisclosed price as part of a cancer-treatment network allowing local patients to avoid trips to Los Angeles for care.

Amgen Lung-Cancer Drug Goes to Trial

Amgen Inc. announced on Monday it is joining a high-level research partnership that will test its experimental cancer drug rilotumumab on lung-cancer patients.