Los Angeles Business Journal

LA HEALTHCARE

Recent and archived news stories on: Biotechnology, Doctors, Drugs, Health Insurance, HMO's/PPO's, Hospitals, Medical Devices, Nursing...

Mexican Coke Hits Sweet Spots

SODA: Sugar cane-based brew popping up across Los Angeles.Sugar cane-fueled flavor is helping Mexican Coke pop up more and more at L.A. stores and restaurants.

By Philip Joens June 23, 2014 midnight   $$ Share

Molina Net Income Falls Short

Molina Healthcare Inc. reported meager earnings after markets closed Wednesday, falling well short of Wall Street expectations on profits.

USC’s Keck Acquires OC-Based Practice for Cancer Network

Keck Medicine of USC, the University of Southern California’s medical enterprise, has acquired Orange Coast Oncology Hematology Medical Associates for an undisclosed price as part of a cancer-treatment network allowing local patients to avoid trips to Los Angeles for care.

Amgen Lung-Cancer Drug Goes to Trial

Amgen Inc. announced on Monday it is joining a high-level research partnership that will test its experimental cancer drug rilotumumab on lung-cancer patients.

MannKind in Talks for Afrezza Partnership

Diabetes drug developer MannKind Corp. of Valencia is exploring multiple partnership opportunities to take its inhalable insulin drug Afrezza to market as the company awaits FDA approval.

New Amgen CFO Gets $2 Million Signing Bonus

Amgen Inc. appointed David W. Meline as its chief financial officer on Monday, luring him from 3M with a $2 million signing bonus.

Puma Shares Fall Amid Trial Results

Shares of Westwood drug developer Puma Biotechnology plummeted in trading on Monday after presentations by the company and another drugmaker soured investors on their prospects.

Samsung Vs. Amgen in Arthritis Market

Samsung Group, the largest company in South Korea, plans to enter the drug trade by competing directly with Amgen Inc. in Thousand Oaks.

MannKind Narrows Loss, Awaits FDA's Decision

MannKind Inc. reported a smaller loss for the first quarter on Monday as it awaits government approval to sell its brand of inhalable insulin.

IPC Makes Texas Acquisition

IPC The Hospitalist Co. Inc. is acquiring Total Inpatient Services in Sugar Land, Texas.

Earnings: J2 Global, Marcus & Millichap, Apollo Medical

J2 Global Inc. on Thursday reported a 26 percent rise in first-quarter net income, as the Hollywood provider of media services saw increasing strength in its cloud data backup services business. Marcus & Millichap Inc. reported soaring revenue the quarter, citing the continued recovery of the commercial real estate market. Apollo Medical Holdings Inc. reported a narrower loss and higher revenue in its last fiscal year, crediting a string of recent acquisitions and expansions.

Earnings: Health Net, Live Nation, Activision, PennyMac

Shares jumped Wednesday for Health Net, Live Nation Entertainment, and Activision Blizzard after the companies reported better-than-expected first quarter results. PennyMac Mortgage Investment Trust struggled, but affiliate PennyMac Financial Services met analyst expectations.

Earnings: Superior Industries, Crown Media, Molina Healthcare

Superior Industries International Inc. matched analysts’ net income estimates for the first quarter but just missed on revenue. Crown Media Holdings Inc. reported a drop in net income for the first quarter despite rising ratings and advertising rates. Molina Healthcare reported a profit for the quarter when analyst were expecting a loss.

Kuwait Fund Invests in NantHealth

NantHealth, billionaire Patrick Soon-Shiong’s health care technology company, on Tuesday announced it is getting an investment of $100 million from Kuwait’s sovereign wealth fund.

Herbalife's Adjusted Net Beats Expectations

Herbalife Ltd. reported a 37 percent drop in first-quarter profit Monday and said it would suspend its quarterly dividend so it could use the cash to repurchase shares. Adjusted net income and sales were better than expected.

Earnings Roundup: Avery, Cheesecake, IPC, Teledyne, On Assignment

A slimmer Avery Dennison Corp. on Wednesday announced fiscal first quarter results that were in line with Wall Street expectations for profit. Cheesecake Factory Inc. said Wednesday that same-store sales rose at most of its outlets during the fiscal first quarter but poor weather cut into profits. IPC disappoints. Defense cuts hit Teledyne. On Assignment meets forecasts.