Los Angeles Business Journal


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

Amgen Beats Estimates

Amgen Inc. reported fourth-quarter and full-year financial results on Tuesday that topped analysts’ estimates as the company reaped the benefits of previously announced layoffs, a tax credit and strong drug sales.

Health One to Stop Producing Unapproved Supplements and Drugs

Health One Pharmaceuticals Inc., a City of Industry manufacturer of dietary supplements and drugs, has been shut down as part of a consent decree reached with the Department of Justice.

Soon-Shiong’s NantWorks Targeted by Former Employees Alleging Fraud

Two former employees of billionaire Patrick Soon-Shiong’s health care technology company NantHealth have alleged the firm and its Culver City holding company NantWorks had engaged in a multitude of fraudulent activities.

NantWorks Subsidiary Inks Licensing Deal With Amgen

NantWorks, billionaire Patrick Soon-Shiong’s Culver City holding company, has launched an immuno-oncology company and inked a deal with Amgen Inc. of Thousand Oaks to license an oncology antibody.

Arrowhead Falls After FDA Alters Drug Trial

Arrowhead Research Corp. saw its stock plummet 24 percent Monday after the Food and Drug Administration placed a partial clinical hold on one of its drugs.

Mehdizadeh to Replace Medbox Execs, Board

Vincent Mehdizadeh, founder and majority shareholder of West Hollywood’s Medbox Inc., notified investors Friday that he will replace the marijuana dispensing company’s board of directors, its chief executive and its chief financial officer.

New Trial Results Propel CytRx Shares

CytRx Corp. saw its stock rise 7 percent on Thursday following more good news from clinical trials. The West L.A. biopharmaceutical firm announced positive results from a study of a potential treatment for HIV-related skin cancer. Shares rose 25 cents to close at $3.64.

FDA Panel Approves Rival Neupogen Drug

A U.S. Food and Drug Administration advisory panel on Wednesday unanimously recommended the agency approve a “biosimilar” version of Amgen Inc.’s cancer drug Neupogen. The FDA panel concluded that Zarzio, a drug sold by the generic drug division of Swiss pharmaceutical giant Novartis Group, is highly similar to the Thousand Oak’s biopharmaceutical company’s Neupogen.

L.A. City Attorney Targets Memory Card Music Pirate

Los Angeles City Attorney Mike Feuer announced today that his office has filed a civil lawsuit against a man who allegedly peddled over $280,000 in pirated movies, videogames and music in downtown L.A.’s fashion district.

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CytRx Rises on Cancer Drug Trials

CytRx Corp. saw its stock rise 16 percent on Tuesday after the West L.A. biopharmaceutical firm announced positive results from a study of a potential treatment for a form of brain cancer. Shares rose 45 cents to close at $3.30.

California Issues HIV Alert for Adult Film Industry

The California Department of Public Health has issued an alert after an adult performer tested positive for HIV and infected at least one other performer at a Nevada film shoot.

NantWorks Strikes Deal with Sorrento Therapeutics

NantWorks, billionaire Patrick Soon-Shiong’s Culver City holding company, has inked a deal with San Diego biopharmaceutical firm Sorrento Therapeutics Inc. to develop cancer and auto-immune disease treatments.

DCHS: Bucking Union, Members Support Sale to Prime

A growing number of union members at the six Daughters of Charity Health System hospitals in California have gone against their own union leadership and signed petitions in support of the sale of the hospitals to Prime Healthcare Services of Ontario, the hospital chain said.

Amgen Releases Results; FDA Approves XGEVA

Amgen Inc. has released detailed positive results from a study on cancer treatment Kyprolis, a key drug for the biopharmaceutical company that disappointed investors with earlier trial results.

NantHealth Unveils First Product of BlackBerry Collaboration

NantHealth, the health care technology division of billionaire Patrick Soon-Shiong’s Culver City holding company NantWorks, has revealed the first product of its collaboration with smartphone-maker BlackBerry: a secure clinical genome browser that gives doctors access to patients’ genetic data on the BlackBerry Passport smartphone.