Los Angeles Business Journal


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

Mehdizadeh to Replace Medbox Execs, Board

Vincent Mehdizadeh, founder and majority shareholder of West Hollywood’s Medbox Inc., notified investors Friday that he will replace the marijuana dispensing company’s board of directors, its chief executive and its chief financial officer.

New Trial Results Propel CytRx Shares

CytRx Corp. saw its stock rise 7 percent on Thursday following more good news from clinical trials. The West L.A. biopharmaceutical firm announced positive results from a study of a potential treatment for HIV-related skin cancer. Shares rose 25 cents to close at $3.64.

FDA Panel Approves Rival Neupogen Drug

A U.S. Food and Drug Administration advisory panel on Wednesday unanimously recommended the agency approve a “biosimilar” version of Amgen Inc.’s cancer drug Neupogen. The FDA panel concluded that Zarzio, a drug sold by the generic drug division of Swiss pharmaceutical giant Novartis Group, is highly similar to the Thousand Oak’s biopharmaceutical company’s Neupogen.

L.A. City Attorney Targets Memory Card Music Pirate

Los Angeles City Attorney Mike Feuer announced today that his office has filed a civil lawsuit against a man who allegedly peddled over $280,000 in pirated movies, videogames and music in downtown L.A.’s fashion district.

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CytRx Rises on Cancer Drug Trials

CytRx Corp. saw its stock rise 16 percent on Tuesday after the West L.A. biopharmaceutical firm announced positive results from a study of a potential treatment for a form of brain cancer. Shares rose 45 cents to close at $3.30.

California Issues HIV Alert for Adult Film Industry

The California Department of Public Health has issued an alert after an adult performer tested positive for HIV and infected at least one other performer at a Nevada film shoot.

NantWorks Strikes Deal with Sorrento Therapeutics

NantWorks, billionaire Patrick Soon-Shiong’s Culver City holding company, has inked a deal with San Diego biopharmaceutical firm Sorrento Therapeutics Inc. to develop cancer and auto-immune disease treatments.

DCHS: Bucking Union, Members Support Sale to Prime

A growing number of union members at the six Daughters of Charity Health System hospitals in California have gone against their own union leadership and signed petitions in support of the sale of the hospitals to Prime Healthcare Services of Ontario, the hospital chain said.

Amgen Releases Results; FDA Approves XGEVA

Amgen Inc. has released detailed positive results from a study on cancer treatment Kyprolis, a key drug for the biopharmaceutical company that disappointed investors with earlier trial results.

NantHealth Unveils First Product of BlackBerry Collaboration

NantHealth, the health care technology division of billionaire Patrick Soon-Shiong’s Culver City holding company NantWorks, has revealed the first product of its collaboration with smartphone-maker BlackBerry: a secure clinical genome browser that gives doctors access to patients’ genetic data on the BlackBerry Passport smartphone.

Poll: Do you think vaping should be banned from public spaces?

Every week the Los Angeles Business Journal asks readers their views on a variety of business and economic issues. A running tally is available on the site and later will be published in the Commentary section of our print edition. Our latest poll is available on the bottom right column of our home page.

Montebello Man Sentenced to Three Years for Medicare Fraud

A physician’s assistant was sentenced Monday to three years in federal prison for defrauding Medicare out of millions of dollars by signing fraudulent prescriptions and other medical documents while working at two separate medical clinics in the Los Angeles area.

Amgen Halts Cancer Drug Trials After Deaths

Amgen Inc. announced on Monday it has ended two clinical studies on an experimental cancer drug after a preliminary review showed increased deaths among one group of patients.

Second Sight Soars in Market Debut

Shares of Second Sight Medical Products Inc. – the latest Alfred Mann company to go public – more than doubled Wednesday in its initial public offering.

CytRx Plunges: FDA Halts Trials After Patient Death

CytRx Corp. shares fell 9 percent Tuesday after the company announced the U.S. Food and Drug Administration had placed a hold on enrolling new patients in clinical trials of its experimental cancer drug following the death of a patient.