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...

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Prime Healthcare Services has withdrawn its $843 million bid for Daughters of Charity’s ailing hospitals, including two in L.A. County, in the face of stringent conditions imposed by state Attorney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

Arrowhead to Buy a Cancer Treatment Portfolio from Novartis

Pasadena biotechnology company Arrowhead Research Corp. announced today that it had struck a deal to acquire the RNAi research and development portfolio of drug maker Novartis in a deal valued at about $35 million.

Lizada Capital to Become Largest Medbox Shareholder

Cannabis investment firm Lizada Capital signed a $15 million deal Wednesday that will make it Medbox’s largest shareholder.

CEO Announcement Boosts Staar Surgical Shares

Caren Mason, who was elected to implantable lens maker Staar Surgical Co.’s board last June, was named Tuesday as chief executive, replacing Barry Caldwell who retired March 1.

Herbalife Chief’s Compensation Slashed

If Herbalife Ltd. Chief Executive Michael Johnson sounded upbeat on the company’s recent earnings call, it likely had nothing to do with his 2014 compensation.

Herbalife's Fourth-Quarter Earnings Prove Disappointing

Herbalife Ltd., the embattled downtown Los Angeles nutritional supplement company, reported its fourth quarter earnings, with some disappointing results, after markets closed Thursday.