Biotech Thiefs and Liars
And we borrowed a billion dollars to give them, Bay-Stater!
"Synta Pharmaceuticals eliminates 90 positions" by Chris Reidy | March 14, 2009
Synta Pharmaceuticals Corp. of Lexington disclosed about 90 job cuts, or 41 percent of its workforce, so it can operate for roughly two more years without additional equity financing.
All 90 positions are in Massachusetts, a company spokesman said, adding the cuts result in the employment of about 130 people. Last month, the company suspended a late-stage study of its cancer-drug candidate elesclomol in melanoma patients because of safety concerns.
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Boston Scientific Corp., the largest maker of heart stents, must face investors' class-action lawsuits over the company's handling of 2004 recalls of drug-coated Taxus devices used to prop open patients' arteries, a judge ruled.
US District Judge Douglas Woodlock in Boston concluded that a Mississippi pension fund and other Boston Scientific shareholders could band together to bring securities fraud claims that company officials misled investors about the problems with the Taxus stents.
The ruling comes as Natick-based Boston Scientific has slowed its acquisitions as it focuses on developing its own stents, defibrillators, and other products. Boston Scientific has snapped up 32 companies over the last decade, including rival Guidant Corp.Yeah, it's ABOUT BUSINESS, $$$, and ACQUISITIONS, not YOUR HEALTH, Amurka!!!!
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