LA HEALTHCARE
Recent and archived news stories on: Biotechnology, Doctors, Drugs, Health Insurance, HMO's/PPO's, Hospitals, Medical Devices, Nursing...Mann Exchanges MannKind Debt for Stock
MannKind Inc. shares rose 5 percent on Wednesday after investors learned that the biotech’s founder had acquired more shares in exchange for cancelling debt the company owed him.
Herbalife to Expand in North Carolina
Herbalife Ltd., which has long relied on contract manufacturers to make its weight loss and nutritional products, has taken additional steps to change that.
Herbalife Plunges on Trader Comments – Again
Herbalife Ltd. shares dropped more than 10 percent on Wednesday after a report that a well-known hedge fund trader had shorted the company’s stock.
Amgen to Pay $762 Million Settlement in Marketing Case
Amgen Inc. has agreed to pay $762 million to resolve federal charges that the company improperly tried to market its troubled anemia drug Aranesp for uses for which it had not yet been approved.
Former Mattel CEO Joins Amgen’s Board
Amgen Inc. said that Robert A. Eckert, former chief executive at Mattel Inc., has been appointed to its board.
Amgen Buys Genetics Firm in Iceland
Amgen Inc. has agreed to buy Decode Genetics, an Icelandic company that can help Amgen develop personalized drug therapies, for $415 million.
Viral Genetics to Change Name, Reduce Shares
Viral Genetics Inc. announced that it will change its name and implement a 1-for-600 reverse split of its common stock as part of a wider corporate restructuring.
Cedars-Sinai Receives $20 Million Donation
Cedars-Sinai Medical Center announced Wednesday it will name part of its new Advanced Health Sciences Pavilion after Orange County philanthropists Bill and Sue Gross.
CytRx Corp. Reports Rise in Research Spending
Shares of CytRx Corp. fell nearly 6 percent Friday after the cancer drug developer released its quarterly report showing a steep rise in research and development spending.
Franchise Sales Boosts DineEquity’s Quarter
DineEquity Inc. reported third-quarter profit that beat Wall Street forecasts, helped by gains on the sale of restaurants to franchisees.
Ex-Wellpoint Chief Gives $25 Million to USC
Former WellPoint chief executive Leonard Schaeffer is giving $25 million toward a USC health policy research center he helped launch three years ago, university officials announced on Tuesday.
Earnings Send Stamps.com, IPC in Opposite Directions
Shares of Stamps.com Inc. jumped 20 percent on Friday after the online postal services provider reported strong third-quarter results and raised its full-year guidance. But IPC the Hospitalist Co. Inc. saw its shares drop 17 percent after announcing results that were less than expected and providing a more pessimistic outlook.
Molina Sees Texas Turnaround in Quarter
Shares of Molina Healthcare Inc. jumped more the 13 percent Wednesday after the managed care provider reported a third quarter profit even though Wall Street had expected a loss. The company cited improved results in Texas, which generates about a fourth of the company’s revenue.
Verizon Invests in Soon-Shiong’s NantHealth
Verizon Communications Inc., already a partner in some of billionaire Patrick Soon-Shiong’s health care information superhighway ventures, has agreed to make an equity investment in NantHealth LLC, the companies announced Wednesday morning.
Amgen Raises Guidance After Solid Quarter
Amgen Inc. late Tuesday reported better-than-expected profit in the third quarter and raised its full-year guidance, sending shares up slightly in after-hours trading.
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