Medical diagnostic firm PerkinElmer Inc. faces a federal investigation into the company’s role in an alleged Medicare fraud involving tens of thousands of unnecessary genetic cancer tests, according to three sources with knowledge of the probe and documents reviewed by Reuters.
Florida biotechnology billionaire Phillip Frost agreed to pay $5.52 million to settle U.S. Securities and Exchange Commission civil charges over his alleged role in “pump-and-dump” schemes that left investors with virtually worthless stock.
The year 2018 saw a number of significant triumphs in the biopharma industry – increased numbers of drug approvals and near record-shattering IPOs, but the industry also saw its share of blemishes and black eyes from various corners of the globe.
Two partners at the hedge fund Deerfield Management and two others were found guilty of charges stemming from what prosecutors have described as an insider trading scheme based on leaks from within a federal healthcare agency.
