Los Angeles Business Journal


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

Amgen Halts Cancer Drug Trials After Deaths

Amgen Inc. announced on Monday it has ended two clinical studies on an experimental cancer drug after a preliminary review showed increased deaths among one group of patients.

Second Sight Soars in Market Debut

Shares of Second Sight Medical Products Inc. – the latest Alfred Mann company to go public – more than doubled Wednesday in its initial public offering.

CytRx Plunges: FDA Halts Trials After Patient Death

CytRx Corp. shares fell 9 percent Tuesday after the company announced the U.S. Food and Drug Administration had placed a hold on enrolling new patients in clinical trials of its experimental cancer drug following the death of a patient.

Second Sight Delays IPO

Second Sight Medical Products Inc., a maker of an artificial retina for blind patients, delayed its planned $30 million IPO until Wednesday.

Second Sight's $30 Million IPO Set For Tuesday

Second Sight Medical Products Inc., a maker of an artificial retina for blind patients, plans to launch a $30 million initial public offering on Tuesday.

MannKind Narrows Loss

MannKind Corp. posted narrow third-quarter losses on Monday as the company winds down its research operations and prepares to start selling its Afrezza brand inhalable insulin.

Two Indicted in Alleged L.A. Medicare Scheme

An owner of Los Angeles home health agency Fifth Avenue Home Health has been indicted for allegedly aiding in a $33 million scheme to defraud Medicare, the U.S. Justice Department announced Thursday.

Amgen Cuts Costs, Beats Estimates

Amgen posted third-quarter earnings Monday that beat Wall Street estimates, as the company reported strong drug sales and benefited from cost-cutting once restructuring costs were excluded.

Expanding USC Partners With Clinic Operator

USC’s medical system announced on Wednesday that it will partner with Surgical Care Affiliates Inc. to jointly manage surgery centers in the Los Angeles region, starting with one in Glendale.

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.