Genetic Testing Company and Three Principals Agree To Pay $42.6 Million to Resolve Kickback and Medical Necessity Claims

The Justice Department announced today that UTC Laboratories, Inc. (RenRX) has agreed to pay $41.6 million, and its three principals, Tarun Jolly, M.D., Patrick Ridgeway, and Barry Griffith, have agreed to pay $1 million to resolve allegations that they violated the False Claims Act by paying kickbacks in exchange for laboratory referrals for pharmacogenetic testing and for furnishing and billing for tests that were not medically necessary.  RenRX, a laboratory company headquartered in New Orleans, Louisiana, also agreed to a twenty-five year period of exclusion from participation in any federal health care program. read more »

The case for prosecuting the Sacklers and other opioid executives

Opioid company executives and owners are set to walk away from the drug overdose crisis as billionaires. There’s another way.

The Sacklers, the family behind OxyContin maker Purdue Pharma, will likely pay billions of dollars for their role in causing the opioid epidemic. But when the cases are settled, they will walk away from the lawsuits — and the opioid epidemic they and Purdue helped cause — still billionaires.

Purdue, which is owned by the Sacklers, introduced and aggressively marketed the opioid painkiller OxyContin in 1996. Since then, more than 200,000 people have died of painkiller overdose deaths, with another roughly 200,000 dying from other opioids — in many cases, after using painkillers first.

Purdue was one of the companies at the forefront of the misleading marketing of opioid painkillers, pushing doctors to prescribe more and more of the drugs and claiming that OxyContin was safe and effective, even after news stories about addiction and overdoses surfaced, according to lawsuits filed against the company and reporting on its marketing. read more »

British regulator reviews JPMorgan metals trading amid U.S. probe: sources

Britain’s financial services regulator is examining allegations of precious metals market manipulation by JPMorgan Chase & Co traders following criminal charges by U.S. authorities, according to two people familiar with the matter.

The UK Financial Conduct Authority (FCA) is one of the various authorities that JPMorgan has previously said were investigating its metals trading, according to one of the people, who declined to be named due to the sensitivity of the matter. The watchdog has requested documents and other information from JPMorgan, the source said. read more »