Ipsen lost the latest round of its legal effort to have its blockbuster cancer product Somatuline Depot classified as a biologic. This comes shortly after Ipsen paid Day One Biopharmaceuticals $111 million upfront for its pediatric brain tumor drug. (Endpoints News)
Viking Therapeutics announced plans to move its injectable obesity treatment into a Phase 3 study faster than expected. This brings Viking closer to joining the highly competitive GLP-1 drug market.(STAT News)
GE HealthCare announced a collaboration with Amazon Web Services to build new generative AI services for medical uses. The companies stated that AI could help doctors find information quickly and aid them with screenings, diagnosis and general productivity. (CNBC)
The CEO of a biotech with ties to the largest public corruption case in Mississippi history pleaded guilty to one count of wire fraud for improperly using welfare funds intended to develop a concussion drug. Jacob VanLandingham entered the plea at a hearing in Jackson before U.S. District Judge Carlton W. Reeves. (ABC News)
A New Jersey biotech agreed to pay $5.4 million to resolve allegations that it violated the Anti-Kickback Statue of the False Claims Act. Admera Health made commission-based payments to independent contractor marketers in return for recommending or arranging for the ordering of genetic testing services in violation of the AKS. (Bloomberg)
Click here to view yesterday’s Five things for pharma marketers to know.
