While men – encouraged by a clever marketing campaign – have been lining up around the block in order to “T it up,” the drug companies pushing this alleged “fountain of youth” have gotten more bad news this week.
In the wake of FDA investigations in to the overuse of testosterone supplements – increasingly supported by the medical profession – at least one manufacturer of these supplements is starting to feel pain as a result.
The company is Australian biotech firm Acrux, which sells a testosterone replacement drug known as Axiron. Only last year, Acrux signed a deal with U.S. drugmaker Eli Lilly, allowing the latter to sell Axiron under license. Global sales of Axiron in 2013 alone generated nearly $180 million – of which Acrux is to receive a $25 million bonus on top of royalties.
Just before Thanksgiving Day, company director Rhonda Stryker – granddaughter of founder Dr. Homer Stryker – unloaded 14,000 shares of her own stock to the tune of more than $1.04 million. Of course, she still holds $12.3 million in company stock, and her own net worth – like those of her siblings – is in the billions. $1 million in comparison is pocket change. While there was nothing illegal or even unethical about it, given what is going on Stryker lawsuits and other company woes, one must wonder about the timing.
In recent months, the German pharmaceutical firm Frenesius has been taken to task over its dialysis drug, Granuflo, over allegations that the drug has caused patients to suffer heart attacks. This is caused by a number of conditions due to the fact that Granuflo contains a higher concentration of sodium diacetate than similar medications. Frenesius apparently failed to make doctors outside its own network of dialysis clinics aware of this. This “failure to warn” is at the heart of Granuflo lawsuits that have been filed over the past few years.
It's not good news for Big Pharma, which has been making a killing (literally) with their slick ad campaign warning guys about the hazards of “Low T” and encouraging them to “T it up.” But it's high time it happened.
PENSACOLA, FL, Feb. 18, 2014 – The Sacred Heart Foundation has announced its upcoming “Healing Hands” Gala Fundraiser for 2014, sponsored by the attorneys at the Levin Papantonio Law Firm. This event is for the benefit of the Children's Hospital at Sacred Heart, and will be held Friday, March 28, 2014. The Children’s Hospital at Sacred Heart cares for over 5,000 critically ill and injured infants and children annually – from one-pound micro-premies struggling to grow to teens beating cancer. The hospital turns away no child.
When a prominent reporter for a major national magazine, known for his defense of “Big Pharma” starts criticizing that same industry for its behavior, you know something is definitely wrong.
If you were to discuss low testosterone (or “Low T” as some clever Madison Avenue huckster has dubbed it) with a medical professional, he or she would likely tell you that it is a normal part of aging. Unlike women, who experience a relatively sudden shutdown in the production of estrogen around age 50 (menopause), the decrease of testosterone in males is gradual, starting around age 30. By age 45, approximately 40% of all men are effected.
There has been continued litigation between BP and the Plaintiffs' Steering Committee regarding the interpretation of the Settlement Agreement and its effect on the claims process. With the exception of seafood compensation fund claims, coastal real property claims, and individual claims, all of the business economic loss claims have been stayed pending the outcome of the issues before the Fifth Circuit Court of Appeals.
Toward the end of last week, Nicholas Scorsch, announced that his company RCS Capital intends to purchase Cetera Financial Group. Together the new organization will make one of the largest networks of independent broker-dealers in the U.S.. Scorsch has made his fortunes by renovating a section of the real estate economy know as Real Estate Investment Trusts (REITs).
Nontraded REITs come in a variety of packages and many financial advisors push the sale because of the large commissions.
When the U.S. Food and Drug Administration (FDA) first approved the anti-coagulant dabigatran – sold by German pharmaceutical firm Boehringer-Ingelheim (BI) under the brand name Pradaxa – it was determined that the danger of potentially fatal hemorrhaging was no greater than it was with the old standby, warfarin (Coumadin). Furthermore, there were far fewer drug interactions to worry about, so doctors, especially those specializing in geriatric medicine, hailed the new medication as a near-miracle.
2/21/14 - The Fosamax MDL No. 1789 Settlement & Allocation Committee has posted to the www.fosamaxmdl.com website a worksheet for counsel to use in gathering the information that will be needed to submit with the final claim form. Please note: THIS IS NOT THE OFFICIAL FOSAMAX SETTLEMENTCLAIM FORM. THIS WORKSHEET IS PREPARED BY THE FOSAMAX MDL NO. 1789 PSC SETTLEMENT & ALLOCATION COMMITTEE SO THAT CLAIMANT’S COUNSEL CAN IDENTIFY AND BEGIN COLLATING THE INFORMATION THAT WILL BE REQUIRED TO BE SUBMITTED WITH THE FINAL CLAIM FORM, WHICH WILL BE POSTED AT A LATER DATE.
2/20/14 - PSC Lead Counsel Tim O'Brien reports that the settlement participation documents are in the final stage of revisions with Merck and will be posted as soon as they are complete. There will also be a cover letter summarizing and explaining the settlement for all Claimants Counsel to send to their clients. What will be due in March 31, 2014, will be the signed Releases and Stipulations of Dismissal, which will be held in escrow pending the eligibility determinations. The actual claim packages will not be due on March 31, 2014. The claim packages will have a due date of May 31, 2014.
02/07/14 - PSC Lead Counsel Tim O’Brien reports that the master settlement agreement will require deceased plaintiffs’ claims to be handled by a duly appointed personal representative or estate administrator. Therefore, if you have claims for now-deceased plaintiffs still pending where the personal representative of the Estate or administrator has not been appointed, please take the steps necessary to secure those appointments prior to the March 31, 2014.
01/29/14 - PSC Lead Counsel Tim O'Brien reports that the Fosamax jaw settlement claim forms are close to finalization and will be posted on this web page once finalized, likely by the end of next week. To get these message updates automatically, Subscribe to our RSS feed
01/13/14 - PSC Lead Counsel Tim O’Brien reports that the first master settlement deadline has been met and satisfied. The Allocation Committee delivered to Merck today the list of participating firms with 100% of firms participating. Stay tuned to this page for further updates and settlement claim forms, which should be posted by the end of January.
Fosamax MDL 1789
The Fosamax Examiner
If a medical device is implanted in a patient, and afterward, someone at the company determines there are defects and issues a written memo suggesting improvements, can those memos constitute evidence against the company in a lawsuit for that patient's pain, suffering and medical expenses?
With the last of three vaginal mesh lawsuit bellwether trials set to begin shortly (the first one resulted in a $2 million award to the plaintiff, while the plaintiff in the second one was granted an undisclosed amount), the question of “lawsuit funding” has been raised in the media.
The litigation firm representing Michigan plaintiffs in one of over a thousand Stryker hip lawsuits, as well as its Howmedica division over the latter's defective hip replacements reported a victory at the beginning of December.
DePuy’s parent company, Johnson & Johnson, has announced that it will enter into a $2.475 billion DePuy hip settlement agreement with plaintiffs in MDL 2197. The DePuy hip settlement covers patients who have undergone a revision surgery as of August 31, 2013. Individuals who have not undergone a revision as of August 31, 2013, still have legal rights available to them and should contact our firm to discuss them.
Various media sources recently announced that an experimental antidote for Pradaxa – an anticoagulant implicated in bleeding deaths – has successfully reversed the effects of the drug in healthy subjects during early trials. One might expect that Pradaxa’s manufacturer, Boehringer-Ingelheim, would be jumping for joy – but the jury is still out. A remedy for serious uncontrolled bleeding brought on by Pradaxa is still sorely needed.
PENSACOLA, FL, OCT.
Most people understand the dangers of an overdose – but you have to know what you are ingesting each time you take a medication. This is particularly true of medications containing acetaminophen, the active ingredient in Tylenol.
The media recently marked a grim milestone. The number of plaintiffs who have filed a vaginal mesh lawsuit has passed the thirty thousand mark. Approximately one third of these are scheduled to be heard in the U.S. District Court, Southern District of West Virginia. Vaginal mesh lawsuit cases currently involve six (6) separate Multidistrict Litigation dockets pertaining to six manufacturers: American Medical Systems, Boston Scientific, Coloplast, Ethicon, Cook Medical and C.R. Bard.
In a ruling released yesterday, a federal appellate court reinterpreted the BP settlement agreement for Business Economic Loss claims related to the Oil Spill in the Gulf. While the appeals court disagreed with the lower court's support for the class administrator's calculation method of business losses according to cash-basis method of accounting, it will now be up to the trial court to further delineate the ruling.
Attorney Brian Barr leads Phase 2 trial on BP’s oil spill in the Gulf