Greed drives skyrocketing cost of drugs in the U.S.
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Fiscal reform needed as pension time bomb ticks away
America’s summer of fiscal discontent is coming to a close on a downbeat note. The California legislature is preparing to wind up its session having stirred up a lot of controversy but done almost nothing to address the state’s ongoing pension crisis. The burgeoning shortfall now adds up to $139 billion in the CalPERS fund Read More →
SpaceX explosion jeopardizes VAFB launch
Less than three weeks before a SpaceX rocket launch from Vandenberg Air Force Base, a SpaceX rocket exploded during a test on the coast of Cape Canaveral, Fla. Sept. 1. The explosion happened during a test of the rocket’s engines known as a static fire test. In the ensuing blaze, a Facebook communications satellite designed Read More →
Simi Valley resident awarded $16M in MetLife financial elder abuse scheme
Updated at 9 a.m. on Sept. 7: A grandmother who invested her life savings in a fraudulent investment scheme hatched by a MetLife insurance agent was awarded $15.6 million. Simi Valley resident Christine Ramirez invested $279,769 with a real estate fund Diversified Lending Group that promised that the unregistered and ultimately worthless securities would provide Read More →
FDA approves Amgen’s Blincyto
The U.S. Food and Drug Administration approved Amgen’s drug Blincyto for treating pediatric leukemia patients Sept. 1. In Dec. 2014, the FDA approved Blincyto to treat patients with precursor B-cell acute lymphoblastic leukemia, which is a rare form of the disease. On Sept. 1, the agency extended Blincyto’s approval to include pediatric patients with another Read More →
Cal Poly SLO receives DOE grant
Cal Poly San Luis Obispo received a $1.2 million grant from the Department of Education Sept. 1 to help economically disadvantaged students. The five-year grant will help support Cal Poly’s Educational Talent Search, which assists middle-school and high-school students who might not otherwise be able to afford college. About 500 students participate in Cal Poly’s Read More →
Amgen acquires German drug
Story updated at 11 a.m.: Thousand Oaks-based biotech giant Amgen acquired global development rights to a multiple myeloma drug from a German company Sept. 1. Amgen said in a news release it acquired commercial and development rights to BI 836909, which is currently being developed by German company Boehringer Ingelheim. It will work with Boehringer Read More →
