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...

'Shark Tank' Pitch Fest for Pot Firms Hits Downtown

A “Shark Tank” type pitch fest for marijuana businesses opened at the L.A. Hotel Downtown Tuesday, attracting a number of budding local entrepreneurs.

Did Clinton Tweet Send Local Biotechs Down?

Democratic presidential candidate Hillary Clinton may have to shoulder the blame for the hit taken by local biotech stocks on Monday.

Amgen Buys Dezima and Signs Xencor Research Deal

Amgen Inc. announced Wednesday that it will acquire Dezima Pharma B.V., a Netherlands-based biotech that develops blood disorder treatments.

AHF Submits Signatures for Condom Measure

The AIDS Healthcare Foundation on Monday filed more than a half million signatures needed for a ballot measure on mandatory condom usage in adult films throughout California.

Amgen's Competitor Launches Neupogen Knockoff

Amgen Inc. faces a new type of competition with the launch of Zarxio, the first biosimilar drug approved for sale in the U.S.

Cedars Acquires Marina del Rey Hospital

Cedars-Sinai Health System announced Tuesday that it acquired the 145-bed Marina del Rey Hospital and a neighboring medical office building. The terms of the deal were not disclosed, but county records show the hospital property traded for $25.3 million in mid-August.

Medbox Founder Retires Shares, Gives Some to Charity

Medbox Inc. Founder P. Vincent Mehdizadeh is letting 13 million shares of his company go up in smoke, raising the value of those held by others.

Amgen Seeks Approval for Drug for Dialysis Patients

Amgen Inc. has applied to the Food and Drug Administration for permission to sell etelcalcetide, a treatment for an ailment found in patients on dialysis, the company announced Tuesday.

Clinics, Ambulance Firm Convicted of Medicare Fraud

Owners and employees of several Los Angeles-area businesses were convicted this week of operating Medicare fraud schemes that took in about $7 million in false billing.

Amgen Agrees to $71 Million Settlement

Amgen Inc. has agreed to a $71 million settlement over claims that the pharmaceutical giant marketed two of its drugs for uses not approved by the Food and Drug Administration.

Response Genetics Files Bankruptcy, Finds Buyer

A month after being delisted from the Nasdaq Capital Market, diagnostic test maker Response Genetics Inc. announced Monday it declared Chapter 11 bankruptcy and would sell its assets to cancer diagnostics company Cancer Genetics Inc. for $14 million.

IPC Healthcare Purchased for $1.6 Billion

IPC Healthcare has agreed to be acquired by Team Health Holdings Inc. for $1.6 billion in cash, the companies announced Tuesday.

Monday Rundown: Cathay Completes Purchase of New York Lender, Molina Healthcare Makes Deal with Integral Health Plan

Chinatown’s Cathay General Bancorp has completed its purchase of Asia Bancshares Inc. in Flushing, N.Y., expanding the reach of Cathay, L.A.’s oldest Chinese-American bank, in the Big Apple, the bank announced Monday.

Cedars to Anchor Playa Vista’s Runway

Cedars-Sinai will be checking into three floors of medical office space above the new Runway retail center in Playa Vista.

Soon-Shiong’s NantKwest Goes Public in $207 Million Offering

Billionaire Patrick Soon-Shiong’s clinical-stage immunotherapy firm NantKwest Inc. debuted at $25 a share in its first day of trading on the Nasdaq Tuesday, raising more than $207 million with the sale of 8.3 million shares.