Tagged Articles

sales 14 articles

Jury Awards Time-Share Whistleblower $20 Million In Wrongful Termination Case

A whistleblower who took her corporate timeshare employer to court alleging she was fired in retaliation for calling out dubious sales practices told The New York Times that her “soul feels taller” after a California State jury awarded her $20 million in lost earnings and damages. Patricia Williams, 44, told the New York Times that she has paid a heavy price for reporting unethical and fraudulent practices she says she witnessed at Wyndham Vacation Ownership where she worked as a sales representative. Ms. Williams alleges Wyndham fired her for complaining about various sales practices she witnessed at an upscale time-share ... Read More

FDA approves Endo’s new Aveed testosterone injections

U.S. drug regulators gave Irish drugmaker Endo Pharmaceuticals the green light to manufacture and market its long-lasting testosterone injection Aveed in the United States, making it the latest addition to a growing list of testosterone-replacement therapies drug companies are aggressively marketing to men in the U.S. and other countries. Endo Pharmaceuticals said the U.S. Food and Drug Administration (FDA) approved Aveed to treat men with hypogonadism, commonly referred to as “low testosterone” or “low T,” a condition in which the body produces lower than normal levels of the hormone. Men with abnormally low testosterone levels often experience declines in muscle, ... Read More

Pharmaceutical investors should look for alternatives to statin medications

Investors wanting to win big in the pharmaceutical market should look to new kinds of LDL, or “bad” cholesterol, treatments instead of putting money toward new or existing cholesterol-lowering statin drugs, Motley Fool advises. Drug companies such as Pfizer, AstraZeneca and Merck have scored well in the past decade with blockbuster statins such as Lipitor, Crestor, and Zocor, respectively. In its peak year (2006), Lipitor earned in $13.7 billion in sales. Six years later the company reports $3.9 billion in sales. Crestor cashed in $6.3 billion in 2012, and Zocor earned a mere $244 million last year, down from $5.4 ... Read More

FDA strengthens Depakote warnings over cognitive risks to unborn children

The U.S. Food and Drug Administration (FDA) is warning childbearing women and their doctors to avoid using Depakote and other drugs containing valproate commonly used to treat migraine headaches after the final results of a study showed the drugs could lower the IQ of unborn children. “Valproate medications should never be used in pregnant women for the prevention of migraine headaches because we have even more data now that show the risks to the children outweigh any treatment benefits for this use,” said Russell Katz, M.D., director of neurology drugs in the FDA’s Center for Drug Evaluation and Research. Depakote ... Read More

New study finds significant link between Depakote use and birth defects

A new study published in an international neurology journal has found “statistically significant associations” between valproate drugs such as Depakote (valproic acid) and spina bifida, as well as malformations of the heart, great vessels, digits, skull bones, and brain. The study, published March 6 in the international neurology journal Acta Neurologica Scandinavica, underscores concerns that Depakote exposure, especially in childbearing women, can interrupt fetal development and lead to a spectrum of birth defects. Another recent study, published in the Lancet Neurology journal in January, linked Depakote exposure prior to birth to lower average IQs in children. Researchers found that the higher ... Read More

Child finds Depakote, Adderall drugs inside Easter egg during church egg hunt

DAPHNE, ALA—An arrest has been made in the case of an Easter egg hunt at an Alabama Catholic Church that resulted in a child finding prescription drugs inside a plastic egg instead of candy. Authorities say that 21-year-old Jarrett Helm has been arrested and charged with disorderly conduct in connection with the incident. According to the Daphne police department, a 6-year-old child found an Easter egg that contained one Depakote pill and half an Adderall pill while searching for Easter eggs at Christ the King Catholic Church. Depakote is an antiepileptic drug that maker Abbott Laboratories has aggressively marketed for ... Read More

Diet pill Qsymia sales sluggish but analysts say pill has blockbuster potential

About 14,500 people have filled prescriptions for the new diet pill Qsymia since it hit the market in September, and the number of prescriptions are growing each month. Qsymia became the first weight loss pill to be sold in the U.S. since 1999. It is intended to be a lifelong treatment to help overweight and obese people manage their weight. Qysmia is a combination phentermine, a stimulant that acts as an appetite suppressant, and topiramate, a drug used to treat seizures. Analysts speculate that it could become blockbuster drug within a few years, generating sales of $1 billion or more. ... Read More

Asset sales, other deals could make BP a much smaller (yet still powerful) company

Two and a half years after BP’s Macondo well erupted in the Gulf of Mexico and unleashed the worst oil spill in U.S. history, the oil giant finds itself at a crossroads that could affect the way it does business for decades to come. In an effort to put the Deepwater Horizon disaster behind it and return some predictability to the company, the oil giant is considering selling its hefty stake of a highly profitable Russian oil venture – a move that would effectively marry BP with the Russian government for years to come. That decision, worth about $26 billion, ... Read More

Is Abbott’s Depakote settlement an incentive to break the law?

What’s the price of defrauding state and federal healthcare systems and potentially putting thousands of patients at risk? In the case of Abbott Laboratories and its CEO, Miles D. White, it’s a slap on the wrist and a fine that represents a small percent of giant profits made by pushing a prescription drug for off-label and unapproved purposes. According to Dow Jones Newswires, the U.S. Justice Department declined to intervene in whistleblower allegations that White engaged in “unlawful conduct” and personally gained from his corporation’s illegal promotion of its anti-seizure drug Depakote. A former Abbott employee made the allegations against ... Read More

Abbott Laboratories sentenced for illegally promoting Depakote

Abbott Laboratories received a formal sentence this month for illegally promoting its anti-seizure drug Depakote for off-label and unapproved purposes – a charge to which the company pleaded guilty in May. U.S. District Court Judge Samuel Wilson of the Western District of Virginia ordered Abbot to pay $500 million in criminal fines, forfeit nearly $200 million more, and pay $1.5 million to the Virginia Medicaid Fraud Control Unit. The company was also given a five-year probation term. Corporate probation is a requirement sometimes imposed when the court finds the company lacks an effective program to detect and deter future violations ... Read More