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OxyContin manufacturer Purdue Pharma, owned by the billionaire Sackler family, is nearing a deal to plead guilty to criminal charges in a bid to resolve ongoing investigations into the company’s alleged role in fuelling the nation’s opioid crisis, Reuters reports — the company could face over $8 billion in penalties in the deal while members of the wealthy Sackler family avoid criminal charges, sources told the agency  

Key Facts

Reuters reports that a settlement to plead guilty to criminal charges is nearly finished between Purdue’s lawyers and federal prosecutors, which could be seen in the next two weeks and could resolve civil and criminal claims. 

The company faces over $8 billion in penalties, Reuters reports — roughly $3.54 billion in criminal fines, $2 billion in criminal forfeiture, and

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a close up of a person talking on a cell phone: U.S. Representative Katie Porter (D-CA) speaks at a campaign town hall meeting with Democratic 2020 U.S. presidential candidate and U.S. Senator Elizabeth Warren (D-MA) in Mason City, Iowa, U.S., January 11, 2020. Brian Snyder/Reuters

© Brian Snyder/Reuters
U.S. Representative Katie Porter (D-CA) speaks at a campaign town hall meeting with Democratic 2020 U.S. presidential candidate and U.S. Senator Elizabeth Warren (D-MA) in Mason City, Iowa, U.S., January 11, 2020. Brian Snyder/Reuters
  • Rep. Katie Porter tore into Celgene CEO Mark Alles over price hikes on a cancer drug, during a congressional hearing on Wednesday.
  • Porter, alongside freshman congresswomen Rep. Rashida Tlaib and Rep. Ayanna Pressley, grilled the CEOs of Teva, Celgene, and Bristol-Myers Squibb as part of a House Oversight Committee investigation into the pricing of Teva’s Multiple Sclerosis drug Copaxone and Bristol-Myers Squibb’s multiple myeloma drug Revlimid. 
  • During the congressional hearing, Porter, a former consumer protection attorney, tore into Alles, writing key figures in her questions — such as how much the CEO makes, how much a single pill of Revlimid cost over the years, and how much his bonus was as a result
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SEATTLE, Sept. 22, 2020 (GLOBE NEWSWIRE) — Athira Pharma, Inc., (Nasdaq: ATHA) (“Athira”), a late clinical-stage biopharmaceutical company focused on developing small molecules to restore neuronal health and stop neurodegeneration, today announced the closing of its initial public offering of 12,000,000 shares of common stock at a price to the public of $17.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, were $204.0 million. Athira’s common stock began trading on the Nasdaq Global Select Market under the ticker symbol “ATHA” on September 18, 2020. In addition, Athira has granted the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of Athira’s common stock at the initial public offering price less the underwriting discounts and commissions.

Goldman Sachs & Co. LLC, Jefferies and Stifel are acting as joint book-running managers for

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Bloomberg

Perelman Selling Almost Everything as Pandemic Roils His Empire

(Bloomberg) — Bit by bit, billionaire Ronald O. Perelman is parting with his treasures.His Gulfstream 650 is on the market. So is his 257-foot yacht. Movers hauled crates of art from his Upper East Side townhouse after he struck a deal with Sotheby’s to sell hundreds of millions of dollars of works.He’s unloaded his stake in Humvee-maker AM General, sold a flavorings company that he’d owned for decades and hired banks to find buyers for stock he holds in other companies.What in the world is going on with Ron Perelman? His exploits on and off Wall Street have been tabloid fare in New York since the go-go 1980s. But now, at an age when most fellow billionaires are kicking back, Perelman, 77, is facing a range of financial challenges, most of all at Revlon Inc., his cosmetics giant.Once touted as

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On March 2, Joseph Kim, Inovio Pharmaceuticals’ CEO, was one of a handful of pharmaceutical executives who met with President Donald Trump at the White House. Although Inovio had never brought a vaccine to market, Kim boasted at that meeting about his company’s ability to quickly develop a COVID-19 vaccine.



a stack of flyers on a table: A COVID-19 vaccine is ready to be given to a volunteer in Hollywood, Florida, on August 13.

© Chandan Khanna/AFP/Getty
A COVID-19 vaccine is ready to be given to a volunteer in Hollywood, Florida, on August 13.

Inovio’s stock skyrocketed—more than 220 percent—in the days after that meeting. That same week, Inovio’s chief financial officer and chief science officer sold $400,000 worth of their combined company shares. Between March and July, top Inovio executives sold nearly $3.5 million in shares inflated by press releases portending hopes for vaccine development.

These Tips Can Help You Combat Coronavirus And Protect Others

UP NEXT

UP NEXT

The executives who have already pocketed millions know that Inovio is not one

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Even when a business is losing money, it’s possible for shareholders to make money if they buy a good business at the right price. By way of example, Acceleron Pharma (NASDAQ:XLRN) has seen its share price rise 106% over the last year, delighting many shareholders. But while history lauds those rare successes, those that fail are often forgotten; who remembers Pets.com?

In light of its strong share price run, we think now is a good time to investigate how risky Acceleron Pharma’s cash burn is. In this report, we will consider the company’s annual negative free cash flow, henceforth referring to it as the ‘cash burn’. Let’s start with an examination of the business’ cash, relative to its cash burn.

View our latest analysis for Acceleron Pharma

How Long Is Acceleron Pharma’s Cash Runway?

A cash runway is defined as the length of time it would take a company to

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PRESS RELEASE: Paid content

Press release content. The AP news staff was not involved in its creation.

Oncology Pharma, Inc.August 27, 2020 GMT

San Francisco, CA – ( NewMediaWire ) – August 27, 2020 – Oncology Pharma, Inc. (OTCPK: ONPH) is pleased to announce that it has extended its Letter of Intent with Kalos Therapeutics.

George Malasek was brought into the Company, as Interim CEO, to assist in moving the Company through its financing efforts.  George is a finance professional with 25 plus years of experience in both public and private companies and has worked in capital markets on a global scale.

In addition, the Board of Directors has voted to approve a 1 for 100 reverse stock split.  The company will release additional information as it becomes available.

ABOUT ONCOLOGY PHARMA, INC.

ONCOLOGY PHARMA, INC. (OTCPK: ONPH) (the “Company”) is currently engaging in research and development of therapeutics

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Here’s the latest news from the global pandemic.

Pharma’s bid to redeem its reputation 

Big Pharma has an image problem.

In the fall of 2019, it came in dead last in Gallup’s annual poll asking people to rank 25 industries from best to worst. As Joe Nocera says in his Bloomberg Businessweek essay on the sector’s current attempt at reputation damage control, “Even the federal government was ranked above the pharma business.”

The race for a vaccine and therapies to mitigate the pandemic has given the likes of Gilead Sciences, Pfizer, Johnson & Johnson, and Moderna a chance to try to rehabilitate the very low expectations the public has of them. Many expect them to come up with the drugs—and then charge through the roof.

While companies have made altruistic noises about the price of their coming vaccines and drugs, Nocera notes there’s already been a dust-up over Gilead’s pricing

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NEW YORK, Aug. 21, 2020 /PRNewswire/ — Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of MEI Pharma, Inc. (NASDAQ: MEIP) between August 2, 2017 and July 1, 2020, inclusive (the “Class Period”), of the important October 9, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for MEI Pharma investors under the federal securities laws.

Rosen Law Firm, P.A. Logo

To join the MEI Pharma class action, go to http://www.rosenlegal.com/cases-register-1919.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS

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LONDON–(BUSINESS WIRE)–Customer segmentation has been an age-old issue for businesses globally. Though new customer segmentation models have helped serve the purpose, it tends to miss certain aspects that make it unreliable in the long run. Quantzig has an extensive team that comprises data scientists and advanced customer analytics experts who focus on data analysis and implement analytics approaches to tackle challenges like these. The cross-functional teams work closely with businesses to help them deal with large real-world databases and identify various risk factors and analyze factors that impact outcomes. Quantzig also has the expertise in offering a wide range of customer segmentation analytics solutions that can help tackle a plethora of challenges faced by companies in the retail, F&B, CPG, and BFSI sectors.

Quantzig’s approach to customer segmentation combines the application of dynamic micro-segmentation and predictive modeling techniques to accurately forecast customer value based on their purchase history,

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