Pharmalot… Pharmalittle… Evening Edition
1 CommentBy Ed Silverman // July 20th, 2007 // 6:42 pm
As the week draws to a close, we look forward to a variety of activities - mowing the lawn, catching up on our reading, and spending time with the short people. Nonetheless, do stop by because weekend tidbits always emerge. Meanwhile, we wish you a pleasant time and hope you enjoy these….
Medicare To Reduce Payments On EPO Drugs For Elderly, Disabled (Yahoo/Reuters)
No Jail Time For OxyContin Execs (NPR)
Shire Gets $2 Million To Expand In Pennsylvania (Philly.com/AP)
Ex-Taro Exec And Son Get Prison Time (Yahoo/AP)
Roche Has Big Hopes For Arthritis Drug (Yahoo/Reuters)
chuck bennett
Thankyou Mr.Silverman for your very informative and inciteful article re Provenge and Conflicts of Interest. After reading it I was moved to write the following email.
My name is Charles bennett. I am an MD, patient advocate and have both a family history and ethnic predisposition to prostate cancer. I am writing this and forwarding it to HHS IG(HON Daniel Levinson), the GAO(HON David Walker) and the SEC(HON Christopher Cox). Our movement is growing and I feel you would be well advised, politically speaking, to heed this message.
It has been brought to my attention and I have verified through public documents that at best shameful and likely fraudulent UNDISCLOSED conflicts of interest(COI) existed with at least one FDA advisory committee member(Dr. Howard Scher) that need investigation by all of you(HHS IG,GAO,SEC).
In obtaining his COI waiver to participate in the FDA advisory committee review of prostate cancer medicine Provenge, Dr. Scher DID NOT reveal that he is a highly placed advisor for an investment fund(Proquest Investments) that is heavily invested in a potential competitor to Provenge(Novacea, Inc.). A business partner of his, Jay Moorin of Proquest, is also on the Board of Directors of this competitor(Novacea). Just weeks after Dr. Scher made an unusually public and visceral effort to get the FDA to take the highly unusual(unheard of actually) effort to overturn the recommendation of its advisory committee, the FDA did just that-denied Provenge approval. Shortly after that Novacea signed a $500 million contract with a large drug company netting Scher, undoubtedly, many millions of $$.
Additionally, there are many other highly suspect events surrounding Provenge and Dr.Scher. During this period of early 2007 shortly after the advisory committee recommended approval of Provenge, massive naked short selling of Dendreon(the maker of Provenge) stock was occurring by hedge funds that can only be explained as insider trading-i.e. the hedge funds effectively had a source inside the FDA instructing them that ,for the first time ever, the FDA would go against a panel recommending approval of a medicine for a terminal disease.
The list of improprieties goes on and on. And yet the SEC is now investigating Dendreon for insider trading. Why in God’s name aren’t you investigating those really involved in the insider trading and this crime against humanity-Dr. Scher and Proquest?! You are perpetuating this crime by not doing so. Many good men who served their country valiantly are dying as we speak and we are absolutely infuriated with YOUR negligent lack of action.
Charles Bennett, MD, USNavy(Ret)
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