Health Headlines: From Insider Trading Scandal to Weight-Loss Drug Breakthroughs
This summary covers recent developments in health, including the sentencing of Terren Peizer for insider trading, Novo Nordisk's drug trial results, new plans from health insurers on authorization requirements, and the influx of unauthorized Chinese vapes into the U.S. market.
In significant legal developments, Terren Peizer, former CEO of Ontrak and protege of Michael Milken, has been sentenced to 3-1/2 years in prison for insider trading. He faces hefty fines totaling $5.25 million, alongside forfeiting $12.7 million in gains.
Novo Nordisk revealed full outcomes from its trials of CagriSema, an experimental weight-loss drug. Despite positive results, with participants losing significant weight, investor confidence dipped, exerting pressure on the company's shares.
Additionally, AHIP announced U.S. health insurers are to streamline prior authorization processes by 2027. Meanwhile, a sizable portion of illicit Chinese vapes found their way into the U.S., orchestrated by a Chicago-based customs broker.
(With inputs from agencies.)
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