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Perrigo Haunted By Mylan Rejection As Securities Fraud Complaints Mount

 
• By Eileen Francis

Securities fraud complaint filed by Nationwide Mutual Funds alleges firm misled investors to fend off Mylan hostile takeover in 2015 before its share price began plummeting. It is latest of similar complaints filed against Perrigo in New Jersey federal court.

Perrigo Co. PLC's decision to reject a hostile takeover in 2015 continues to haunt the OTC private label giant with another investor group filing securities fraud litigation alleging it misled shareholders about multiple aspects of its business to stave off the bid.

Perrigo management fended off Mylan NV's tender by concealing problems connected to the acquisition the same year of European consumer health firm Omega Pharma NV, a move intended to bolster its position as an international business that also marketed branded products, claims the

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More from Legal

Supreme Court 1935 Ruling Limiting Executive Authority On Appointments ‘Unravels’ Today – DoJ

 
• By Malcolm Spicer

In complaint and response to motion to dismiss, Rebecca Kelly Slaughter’s and Alvaro Bedoya’s attorneys elaborate on Supreme Court ‘s 1935 decision, Humphrey’s Executor v. US. Administration attorneys, though, contend the ruling isn’t relevant to the current FTC.

Congress, Researchers Highlight Security Risks At DNA Testing Services

 
• By Elizabeth Orr

Congress launched an inquiry into 23andMe amid privacy concerns following its bankruptcy, particularly regarding the potential sale of sensitive user data. Additionally, a Cybernews report gave 40 DNA testing firms an average cybersecurity grade of D, citing widespread vulnerabilities and data breaches, along with inadequate public information about their security practices.

Xlear Sees Tip Of FTC Policy Iceberg In DoJ Dismissal Of False Advertising Complaint

 
• By Malcolm Spicer

It wasn’t a quick decision for Xlear to accept DoJ attorneys’ offer to dismiss the case. “I want the I want the FTC to change its policy and its behaviors,” says Xlear president Nathan Jones.

US FDA May Lose Some Autonomy Under HHS General Counsel Reorganization

 
• By Sarah Karlin-Smith

Health and Human Services Secretary Robert F. Kennedy Jr. is moving FDA Chief Counsel Robert Foster to a new senior position as Chief Counsel for Food, Research, and Drugs at HHS. Hilary Perkins will become FDA chief counsel.

More from Policy & Regulation

Stakeholders Hope US FDA’s Proposed Animal Test Phase-Out For Drugs Will Extend To OTCs, Cosmetics

 
• By Eileen Francis and Lauren Nardella

The US Food and Drug Administration has released a roadmap to adopt new approach methodologies in lieu of animal testing for monoclonal antibody therapies and other drugs, which may include OTC drugs though the proposal does not specifically include cosmetics.

Melatonin And Buccal Acyclovir On German Switch Committee Agenda

 
• By David Ridley

An application for melatonin as an OTC medicine is on the agenda for the next German switch committee meeting, despite the hormone being widely available in food supplements. Acyclovir as a buccal tablet and second-generation antihistamine rupatadine are also up for discussion.

Little Industry Opposition To FDA Plan To Remove Synthetic Dyes, Or Agreement They’re Unsafe

 
• By Malcolm Spicer

Dyes and colors which FDA says industries agree should no longer be used aren’t unsafe and are currently used only with the agency’s approval, industry stakeholders say. Center for Science in the Public Interest says the dyes are used “in tens of thousands of foods and beverages that are commonly consumed here in the United States.”