Boston Scientific Corp. and its subsidiary, Guidant, will pay $30 million to settle allegations that Guidant knowingly sold defective heart devices that were implanted in Medicare patients between 2002 and 2005.
In a civil action filed by the United States Department of Justice on January 27, 2011, the DOJ alleged that Guidant knowingly sold defective implantable defibrillators. These devices are surgically implanted into patients’ chests to ...
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In a recent announcement to the public, Merck – a United States pharmaceutical giant – will be cutting 8,500 jobs as part of a business strategy to become more competitive in their field.
An article by CNN reports that Merck also plans to cut $2.5 billion from its annual operating costs by the year 2015. The first step, cutting 8,500 jobs, comes in addition to the previous 7,500 jobs that were cut in 2011 and 2012. ...
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Recently, the U.S. Food and Drug Administration issued a news release warning the public of a voluntary nationwide recall of one lot of 1% Lidocaine HCL Injection. Hospira, Inc., the product manufacturer as well as the world’s largest provider of injectable drugs, has issued this recall due to the presence oxidized stainless steel found in the drug particulates.
According to the FDA, the specific product recalled is: 1% Lidocaine HCI Injection, USP, ...
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As a result of the increasing number of Stryker hip implant cases filed around the country, the United States Judicial Panel on Multidistrict Litigation has ordered the creation of a multidistrict litigation (MDL) so that a single judge can efficiently handle all of these cases.
MDLs are centralized locations for all federal cases involving a particular form of litigation, ...
continue reading...On a day that Merck announced its intent to lay off 8,500 employees, a federal judge approved a settlement in which Merck agreed to pay $688 million for allegedly defrauding shareholders.
Merck agreed to pay this amount in order to resolve a class action lawsuit in which it was alleged that the company withheld adverse results of a clinical trial of Vytorin and Zetia, two anti-cholesterol drugs. The purpose of ...
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The antibacterial drug Tygacil carries a higher risk of death than other drugs of its kind, an article by Reuters reports.
The U.S. Food and Drug Administration issued a safety announcement on September 27, 2013 approving a new Black Box Warning, the strongest warning that can be given to a drug, as well as updated Warnings and Precautions and Adverse Reactions portions of the drug label.
The FDA states on their ...
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