Alere hit with subpoena for Medicare billing practices

Thursday, July 28, 2016

Investors were temporarily shaken after news of a federal investigation into Medicare billing practices. Alere received a U.S. Department of Justice subpoena addressed to Alere Toxicology Services on July 1, 2016. The subpoena seeks records related to Medicare, Medicaid and Tricare billings dating back to 2010 for patient samples tested at the company’s Austin, Texas pain management laboratory.

[Read More]

Abbott to Acquire Alere for 5.8B

Thursday, February 4, 2016

Abbott has announced a definitive agreement to acquire Alere, significantly advancing Abbott’s global diagnostics presence and leadership. Abbott will pay $56 per common share at a total expected equity value of $5.8 billion. Once the transaction is completed, Abbott will become a leading diagnostics provider of point-of-care testing. Abbott’s total diagnostics sales will exceed $7 billion after the close. 

[Read More]

Qiagen, Tokai Pharmaceuticals partner

Wednesday, March 18, 2015

Qiagen, a Netherlands-based holding company, has partnered with Germany-based Tokai Pharmaceuticals to combine new circulating tumor cells (CTCs) technology with a molecular assay to co-develop and commercialize a companion diagnostic for Tokai’s novel drug compound galeterone, which is in late-stage clinical trials for treatment of castration-resistant prostate cancer (CRPC). The non-invasive test will determine the expression of the AR-V7 biomarker, which in recent studies demonstrated potential utility to guide therapy choice in CRPC patients.

[Read More]