Austalian bank boss says insurer got it wrong on heart attacks

shCommonwealth Bank CEO Ian Narev speaks as Chief Financial Officer David Craig listens on during a media conference at the company's headquarters in Sydney, AustraliaBy Peter Gosnell SYDNEY (Reuters) – The head of Australia&;s largest bank said its insurance business, CommInsure, had used an outdated and discredited definition of a heart attack to deny some claims from clients and he would apologize to any customers adversely affected. "I am saddened and disappointed by the handling of these cases," Ian Narev, chief executive officer of the Commonwealth Bank of Australia, said in a statement on Saturday. Narev&039;s comment came as a joint Fairfax-Four Corners investigation revealed that CommInsure was reviewing its use of the definition of a heart attack and may have been aware since mid-2014 that it was no longer best practice.

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FDA to revoke pig drug approval over human cancer risk concern

FDA Commissioner nominee Califf testifies at nomination hearing in Washington(Reuters) – The U.S. Food and Drug Administration on Friday moved to revoke approval of a drug used to treat certain conditions in pigs because it could leave cancerous residue that could affect human health. The drug, carbadox, is made by Teaneck, New Jersey-based Phibro Animal Health and is used to control swine dysentery and bacterial enteritis, the agency said. "Potential cancer risks are based on an assumed lifetime of consuming pork liver or other pork products containing carbadox residues," the agency said in a statement, adding that it is not recommending that people change their food choices while it works to remove the drug from the market.

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India’s IPCA says Global Fund stops buying its anti-malarial drugs

India’s IPCA Laboratories Ltd said on Thursday that the Global Fund to Fight AIDS, Tuberculosis and Malaria, would no longer buy the company’s anti-malarial treatments after a U.S. regulatory warning about quality lapses at its factories. IPCA said in February that the U.S. Food and Drug Administration had issued it with a warning letter outlining manufacturing quality lapses observed at three of its Indian factories. The Global Fund will no longer source Artemisinin-based Combination Therapy (ACTs), an anti-malarial treatment, from IPCA following a “risk consideration exercise”, the drugmaker said.
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