A Detroit-based pension fund sued Amgen in a proposed class action lawsuit, alleging that the pharma giant hid that it owed $10.7 billion in taxes and penalties to the Internal Revenue Service. The lawsuit argues that Amgen inflated its stock price by concealing the tax issue. (Reuters)
GSK revealed new Phase III data for its 5-in-1 meningococcal ABCWY combination vaccine, noting the candidate met all 11 primary endpoints in the clinical trial. GSK plans to submit the vaccine for Food and Drug Administration (FDA) approval. (Seeking Alpha)
South San Francisco biotech Switch Therapeutics unwrapped Tuesday morning with $52 million to finance conditionally activated siRNA molecules. The biotech will start in the central nervous system and consider expanding its use in other disease areas through the help of potential pharma collaborators. (Endpoints News)
A major $21 billion opioid settlement that went into effect last year has led to ripple effects on patients who are now struggling to get access to prescription painkillers as well as other drugs. The increased regulations associated with the settlement has led to a disruption in the flow of medication distribution across the U.S. – including other controlled substances like muscle relaxants or Xanax. (The New York Times)
Dr. Jiang Yanyong, who blew the whistle on China’s cover-up of the SARS epidemic, passed away at 91. Yanyong’s actions prompting Chinese leaders to admit they had put out misinformation and to begin a nationwide effort to battle the virus, saving countless lives. (The Guardian)
