Tag: New York

Medicaid, other costs threaten New York state and local budgets: report

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NEW YORK (Reuters) – Costs for Medicaid, education and employee retirement benefits are threatening to overwhelm state and local government budgets in New York, a report by a national task force issued on Tuesday found. “Healthcare costs and retirement costs are rising a lot faster than revenue. And unless one sees something on the horizon that will change that essential dynamic, then that means we’re not on a sustainable path,” said former New York Lieutenant Governor Richard Ravitch in an interview. The report, which can be found at www.statebudgetcrisis. …

Amgen to pay $762 million, pleads guilty in marketing case

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NEW YORK (Reuters) – Amgen Inc pleaded guilty in a New York federal court on Tuesday for improper marketing practices involving its once top-selling Aranesp anemia drug, and prosecutors said the company has agreed to pay $762 million in a civil settlement and criminal fines. The world’s largest biotechnology company had set aside funds it expected to have to pay as a result of federal and state investigations, as well as nearly a dozen civil whistleblower lawsuits. …

CVS Caremark sees Obamacare as expansion opportunity

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A CVS pharmacy is seen in New York City(Reuters) – CVS Caremark Corp is looking at changes in U.S. healthcare as an opportunity to serve more customers, whether they are picking up prescriptions, getting them through the mail, or stopping by an in-house MinuteClinic for a checkup. The company, formed when drugstore chain CVS bought pharmacy benefits manager Caremark in 2007 in a $27 billion all-stock deal, is set to give details on its strategy as it meets with analysts and investors in New York on Thursday. It also plans to discuss its 2013 financial forecasts. …

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U.S. court voids drug rep’s conviction, cites free speech

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NEW YORK (Reuters) – A divided federal appeals court on Monday threw out the conviction of a sales representative for promoting off-label use of a prescription drug, a ruling that could make it harder for the government to police how drugs are marketed and sold. The 2nd U.S. Circuit Court of Appeals in New York found that the sales representative’s free speech rights under the First Amendment had been violated. …

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FDA approves Exelixis’ cabozantinib for thyroid cancer

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WASHINGTON (Reuters) – The U.S. Food and Drug Administration on Thursday approved Exelixis Inc’s cabozantinib as a treatment for medullary thyroid cancer that has spread to other parts of the body. Cabozantinib, the company’s lead product candidate, is an oral drug designed to limit blood supply to tumors as well as block two segments of a pathway used by cancer cells to grow and spread. The FDA announcement came shortly after the close of stock market trading in New York, where Exelixis shares eased slightly on the day at $5.24 per share. …

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Ex-SAC manager granted $5 million bail in trading case

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Former SAC Capital employee Martoma exits Manhattan Federal court following an appearance on insider trading charges in New YorkNEW YORK (Reuters) – A former SAC Capital portfolio manager was released on $5 million bail on Monday after making his first appearance in a New York court on charges of making illegal trades that hedge fund titan Steven A. Cohen personally signed off on. Mathew Martoma, 38, of Boca Raton, Florida, was charged last week in what U.S. prosecutors called "the most lucrative" insider-trading scheme ever. Martoma was accused of helping Cohen's firm avoid losses and reap profits totaling $276 million in the summer of 2008 by using insider tips he obtained from a doctor about Elan Corp and Wyeth LLC. …

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Chefs fight flab with small portions, healthy snacks

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Undated handout of chef Murphy serving up a dish from kitchen of his restaurant "Landmarc" in the Tribeca neighborhood of New York CityNEW YORK (Reuters) – Top chefs who spend long, late hours preparing meals for others, face greater temptation than most mortals to over-eat but they say small portions, healthy snacks and drinking plenty of water can help to keep the weight off. Like many Americans, chefs struggle with the battle of the bulge. If he is not careful chef Marc Murphy, of the Landmarc restaurant in New York, admitted he can nibble on up to two plates of French fried potatoes during a busy day at his restaurant. To offset the additional calories during week he refrains from drinking alcohol. …

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Kids with ADHD have dimmer prospects: study

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NEW YORK (Reuters Health) – Children with ADHD symptoms tend to fare worse as adults than do kids without problems in school, according to the longest follow-up study of the disorder to date. They have less education and lower income, on average, and higher rates of divorce and substance abuse, according to findings released today in the Archives of General Psychiatry. “A lot of them do fine, but there is a small proportion that is in a great deal of difficulty,” said Rachel Klein, a professor of child and adolescent psychiatry at NYU Langone Medical Center in New York. …

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