U.S. court revives KV Pharmaceutical investor suit

(Reuters) – Investors can continue to bring claims against KV Pharmaceutical Co for making false or misleading statements to the U.S. Food and Drug Administration, a federal appeals court ruled on Monday. The 8th Circuit Court of Appeals largely revived a proposed securities fraud class action that had been dismissed in its entirety by a trial court in 2010. In the lawsuit, investors claimed to have suffered $1.5 billion in losses because KV, a generic drug maker, first misled the FDA in its compliance reports, and subsequently shut down its manufacturing operations in 2009. …

FDA panel backs Gilead’s Truvada to prevent HIV

WASHINGTON (Reuters) – A U.S. Food and Drug Administration panel of outside experts recommended Gilead Sciences Inc’s Truvada as a treatment for preventing HIV infection among people at risk for contracting AIDS, including homosexual and bisexual men. In a move that could lead to a new milestone for treatment in the evolution of the worldwide AIDS epidemic, the FDA advisory committee voted 19-3 to endorse the drug’s use for controlling HIV infection among the highest risk group – men who have sex with men. …

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