From NPR news in Washington, I'm Lakshmi Singh.
GlaxoSmithKline is settling in historic healthcarefraudcase for 30 billion dollars. The drug maker has agreed to plead guilty to misdemeanor criminal charges that is promoted its drugs for unauthorized uses and failed to disclose pertinent information to the FDA. Among those drug cited, were Paxil, Wenllbutrin and Avandia. Bill Corr, deputy secretary for the department of health and human service says the abuses in the pharmaceutical industry affect everyone.
“When corporations misbrand a drug, manipulate prices, inappropriately influence doctors or keep critical safety information from the light of day. Theybetrayedpeople's trust in confidence in the very care they count on to get well and to stay healthy.
The British-based Glaxo says it will adhere to strict US oversight of its sales personnel.
This hour Kodak is shutting down its digital photo service, making way for Shutterfly, as NPR's Laura Sydell reports.
“Kodak, the former king of the American photo industry has been selling off bits and pieces of its business. The once greatinnovatorin the analog photo era filed for bankruptcy in January. The Rochester, New York-based company sold what it calls Kodak gallery to the silicon valley-based Shutterfly for nearly 24 million dollars.
Gallery has more than 68 million customers in the US and Canada who will temporarily lose access to their photos.
A Shutterfly spokesperson says they will move as quickly as possible to get the Kodak accounts up and running on their side. As part of its bankruptcy proceedings, Kodak is also trying to sell its digital imaging patents with an estimated value of more than 2.5 billion dollars. Laura Sydell, NPR news, San Francisco.”
Manufacturing activity has shrunk for the first time in nearly 3 years. Theinstitutefor supply management said today that its rating on factory activity dropped last month as new orders and production fell.
A year ago today, the US education department released what it called gainful employment regulations, targeting for-profit colleges that regain lots of federal students aid that lose students with crashing debt and poor job prospects. NPR's Claudio Sanchez reports US district court judge has thrown out key provisions of the regulation.
“It was a huge win for for-profit colleges this weekend after Judge Rudolph Contreras ruled that the government's gainful employment regulations were arbitrary andcapricious. Under the regulations, the department of education would evaluate schools based on whether students graduate with excessive debt, compared to their total and discretionary income and whether students could repay their loans at all. If schools fall short of this criterion 3 out of 4 years, it will be banned from receiving federal student aid. The judge ruled that these guidelines although legal then not adequately access student's ability to pay. Education department officials say they are reviewing their options for appeal. Claudio Sanchez, NPR news.”
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