Category: Uncategorized

[U] The Guy Who Praised Martin Shkreli’s Price Gouging… Now To Pay DoJ Up To $50 Million, For Gouging Nitro OS At Nostrum Labs. Karma.

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Updated — my buddie, Ed Silverman, over at Pharmalot, has a story on it now as well. Excellent! End update.

Not at all… surprising.

I’ll let the able DoJ staff attorneys explain. See below. But do note that this guy was praising Martin back in the 2018 time frame. That (like SBF running his mouth) now proves to be exceedingly unwise. And cost his shareholders. . . a ton.

…Nostrum Laboratories Inc. (Nostrum), located in Missouri and New Jersey, and its founder and CEO, Nirmal Mulye, Ph.D. (Mulye), have agreed to pay a minimum of $3,825,000, and up to $50 million if certain financial contingencies are met, to resolve allegations that they violated the False Claims Act by knowingly underpaying Medicaid rebates due for Nostrum’s drug Nitrofurantoin Oral Suspension (Nitro OS). The settlement is based on Nostrum’s and Mulye’s financial condition….

Pursuant to the Medicaid Drug Rebate Program, drug manufacturers are required to pay quarterly rebates to state Medicaid programs in exchange for Medicaid’s coverage of the manufacturers’ drugs. The statute requires manufacturers to pay inflation-based rebates for drugs, which are designed to insulate the Medicaid program from drug price increases that outpace inflation….

After relaunching Nitro OS in August 2018, Nostrum increased its price from $474.75 to $2,392.32 per bottle, which triggered significantly higher Medicaid Drug Rebate invoices from State Medicaid programs on account of the inflation-based rebate….

“The department is committed to ensuring that pharmaceutical manufacturers meet their obligations to taxpayer funded health care programs, which support elderly and vulnerable populations,” said Principal Deputy Assistant Attorney General Brian M. Boynton, head of the Justice Department’s Civil Division. “As this settlement demonstrates, the department will hold accountable those who knowingly fail to satisfy these obligations….”

Now you know — yep this is a… snowy, scary Halloween-ey story. Grin. Onward.

नमस्ते

Both Actors’ Equity, And Muslim Con. Law Groups File, As Amici — In The Anti-Drag Case On Appeal In Sixth Cir., Tonight.

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Two more amicus briefs were filed today, to encourage the Sixth Circuit to affirm the trial court in Memphis, in permanently striking the Tennessee version of the anti-drag law enacted this past March. [So this is a status update, while we await an argument date, there.]

Here is one — the Muslim con. law brief, and here is the actors’ union brief, and a bit:

…Actors’ Equity Association (“Equity”), a labor organization that represents live theatrical actors and stage managers, is devoted to protecting live theatre as an essential component of a thriving civil society and the basis of its members’ livelihoods. Since 1913, Equity has fought to win its members a dignified workplace at the theatre, from pay guarantees and pension and welfare benefits to the rules governing auditions.

With more than 51,000 members across the nation, Equity is among the oldest and largest labor unions in the performing arts in America. Broadway tours of America’s favorite musicals come to Tennessee each year, and approximately 380 Equity members reside in Tennessee, where they can perform in fifteen Equity-affiliated theatres. Preserving the First Amendment right to perform in uncensored, controversial works of art in the public sphere is essential to Equity’s mission. It is in defense of this freedom, and for the reasons set out in this brief, that Equity now urges this Court to affirm the ruling of the district court….

This may mean that no members of the union will be willing to perform in Tennessee for so long as, or if, the law takes effect. We shall see. That would mean no travelling company would visit Nashville, to perform “Wicked”, “The Lion King” or “Hamilton”. That would be an immeasurable loss for all the good people of Tennessee. Damn. Do read both — they are well-argued.

नमस्ते

It MAY Be That Gmail Now Regards The Powerline Boys… As In Violation Of Gmail’s ToS. Delicious!

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This very morning, Scott Johnson notes over “the PA address system” — of a public post, that the gmail server they use for public interactions (forwarded story ideas, tips and feedback) no longer is working, as of last Friday.

They have switched to one with a “5” on the end of the address. Thus, over the last 20 or so years, this is their fifth time, being booted.

I cannot say with any certainty that they were again booted — for repeated terms of service violations, but it does seem likely, with Hinderaker repeatedly calling for the eradication of all Gazans who might… unwillingly, or unwittingly now be harboring members of Hamas.

Could well be.

But in any event, it couldn’t happen to a nicer bunch of… psychos.

Out.

Intriguing Q.: Will Latest Machine Learning, Mated To CRISPR / Ancient Neanderthal Peptides Extraction… Lead To New Classes Of Antibiotics?

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NPR has a popular science explainer out this morning. And to be fair, any general audience writing on the topic — of necessity — drops a lot of the technical complexity. So too, here — but the central narrative holds up pretty well, from this much earlier paper on the topic generally.

The idea is that the peptides of Neanderthals and Denisovans, now available to us intact, with the advent of better DNA extraction techniques… might offer future pathways to solving our emerging modern DNA’s resistance to many antibiotics. Here’s that entertaining NPR bit — decades off, though it may be:

…”We use a technique called solid phase chemical synthesis, which essentially is like little robots that allow us to make the peptides and they make one amino acid at the time and then they link them in a chain to essentially get your final peptide, which again is a tiny protein,” de la Fuente explains. “And then we expose them to bacteria that we grow in the laboratory and we see whether they’re able to kill clinically relevant bacteria or not.”

They found several peptides that effectively killed bacteria in petri dishes, and tested them in animal models.

“In one of the mouse models, which was a skin infection model, one of the Neanderthal peptides was able to reduce the infection to levels comparable to a standard of care antibiotic called Polymyxin B,” de la Fuente says.

They called it “neanderthalin-1” and, while the peptide itself is not potent enough to be an antibiotic on its own, de la Fuente says he and his team hope to use it and other peptides as templates for further study of anti-microbials….

Now you know — onward to a sunny if cool Halloween kids’ walk this afternoon. Grinning ear to ear, as Jurassic Park like science fiction slowly enters real world petri dishes… what an amazing time to be alive!

नमस्ते

Naturally Arising Nanostructures, Forming In/On Ancient Glass — Made In Rome — Of Pure Egyptian Sand… Some 2,000 Years Ago. “Now You Know” Sunday Dept.

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The shards laid in the mud of the Tiber riverbanks…

They laid there, in endless cycles of drying and wetting, in the fine, mineral rich silt of Rome’s central river.

Likely more than 2,000 years worth.

What has emerged… from this natural process… is a luminescence, like those of fish scales… and it is teaching materials engineers new lessons about how we might make useful optical storage devices, based on the principles there laid down.

Do stay tuned — as there will be much more to this story… in the coming decade. Perhaps even a drive, on your desk top… or alongside your phone.

We shall see. Onward.

नमस्ते

Paul Mirengoff, On Behalf Of Israel, Wants Mr. Biden To Do Everything… The Way Israel Wants. YAWN.

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Sure — I get his advocacy. I too (as I’ve long indicated) have skin in this game.

But two points bear repeating: (1) America’s interests, and thus, Mr. Biden’s (properly understood and faithfully reported) differ (and in some senses, markedly) from those of Israel.

Paul knows it, but he writes of a world where only Israel’s interests should be considered. That’s never going to happen. Not at NATO; not in the EU, Russia, China or the US. It is important to accept reality when making sweeping policy statements, as he has.

(2) Tangerine (in many ways) has precipitated this moment. Saying his actions as 45 “destroyed” ISIS… is a pure prevarication. He emboldened any and all radicals, of all stripes — in openly indicating — around the globe, that under him, US policy was always for sale to the highest monetary bidder. Not the right — but just the… green.

So, Mirengoff simply and knowingly lies when he praises anything Tangerine did in the Middle East. Barely worth mentioning, as it is all so blindingly obvious.

I’ll leave it at that.

Out.

Mr. Mirengoff Won’t Accept That “Eyes, Traded For Eyes” Simply Makes… A World Filled With… The BLIND.

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Again, there was a time — even in war-zones (and especially in wartime) — when the supposed enlightened world adhered to the Geneva Convention.

There was a time.

And truly, Hamas made clear that that time… is nothing to them. Paul is correct in that assessment.

But so too has Israel over the past twenty years — at least from time to (isolated) time. So too (to be fair, clearly) did the US — in Nissour Square, obviously, and elsewhere — in the past 20.

But that does not make Paul right, here.

It makes Mr. Biden’s way… the right one.

All must dial back.

All.

Else, the end game will be… all are blinded men.

Out.

BMO Capital Moves Merck To “Outperform” — After Q3 2023 Guidance Bump-Ups… Smile.

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Way back in July of 2016 (when we last mentioned a BMO prognostication), while we were indicating what a game changer pembrolizumab was going to be, the folks at BMO had Merck as fully valued at $58. I suppose that wasn’t a terribly risky call — but even as a critic, I thought it was being under-appreciated.

Fast forward to today — and Merck has a fairly clear runway to 2034-35, on patents on what is now called Keytruda, clocking about $25 billion a year in sales revenue. That’s pretty nice… runway.

So BMO now calls Rahway as an outperformer, even at ~$104, today. BMO’s new call? $132.

Yes. I agree. (But think of how much BMO clients missed, via the call that it was fully valued at $58! Yikes.)

Merck has a minimum of 25 per cent upside just in the next six months of elapsed time.

We won’t become a silly maximalist here — ever the balance, right?

But it does look pretty good for the old George Merck firm, through 2025, to a near certainty. Now you know — and c’mon, let my Buffs steal one from UCLA tomorrow night! Out.

नमस्ते

What The Cancer of “Tangerine-Think” Hath Wrought…

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We’ve covered the stupid 106 page opinion of Judge Doughty at length here, out of Louisiana. And now in the Supremes, his specious orders, as modified and curtailed by the Fifth Circuit are pending a full briefing. That will take us to mid-2024, minimum. [Please excuse the legacy graphic — feeling lazy today. But that is his distant relative, circa 1962, on the left.]

But one guy — with Kennedy in his name — wants to cut the line, and get in front of the Supremes.

So now — this morning — he seeks the right to intervene in a case already before the US Supreme Court.

That almost never happens. [He will fail — in both this attempt, and his supposed independent WH run. Hilarious.]

In sum, he is required to litigate to a final verdict down in Monroe, Louisiana, then work his way up through the courts. USDC Judge Doughty — not the sharpest tool in the shed, down there — has placed a hold on all proceedings, while the appeals on his first preliminary injunction get sorted out. [He’s likely trying to avoid additional humiliation at the High Court.]

Too bad for Kennedy that he (simply by virtue of WANTING it to be so) cannot jump to the front of the line, on the mere assertion that he’s… um… running for President.

Nope. “This is America, Jack!” — that’s not how it works, here — despite what you see Tangerine try, day in and day out.

Take a seat. You’ll have to wait it out, on the pine bench down there.

Truly hilarious.