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MONEY BRIEFS.

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Boston Scientific sued

Boston Scientific Corp., Medtronic Inc. and five other companies promoted surgical devices for unapproved uses, cheating the federal Medicare program, a whistle-blower said in lawsuits unsealed in Houston.

Boston Scientific and its Guidant Corp. unit "initiated a coordinated nationwide sales campaign (including the use of illegal kickbacks and other improper means) to entice physicians and hospitals to use their products for off-label purposes," a former saleswoman identified as Jane Doe said in a complaint made public Monday. Natick-based Boston Scientific's facilities include one in Marlboro.

The plaintiff filed similar actions accusing companies including Medtronic, St. Jude Medical Inc. and Endoscopic Technologies Inc. of improperly marketing surgical ablation devices, used for lesions or scar tissue, for treatment of atrial fibrillation to increase sales. The suits were filed under the federal False Claims Act on behalf of the government, alleging the off-label marketing caused excessive Medicare reimbursements.

New SeraCare products

MILFORD - SeraCare Life Sciences has launched new products which aid cystic fibrosis genetic research. The genetic controls are the only commercially available single-vial products that control for testing of all cystic fibrosis mutations detected by the leading testing platforms. Approximately 30,000 children and adults in the United States have a diagnosis of cystic fibrosis.

GTC obtains rights

FRAMINGHAM - GTC Biotherapeutics Inc. has obtained exclusive worldwide rights to the development and commercialization of recombinant human alpha-fetoprotein for the treatment of autoimmune diseases from Merrimack Pharmaceuticals. GTC will receive an initial inventory of bulk drug substance suitable for use in clinical studies. GTC will also assume control of the transgenic goats that express recombinant human alpha-fetoprotein in their milk, which were originally developed by GTC for Merrimack and are cared for in GTC's facilities, according to a news release. GTC intends to further develop recombinant human alpha-fetoprotein through commercial partnering.

3Com raises salaries

MARLBORO - 3Com Corp.'s board of directors recently approved a title change and increased the annual base salary of Dr. Shusheng Zheng. Dr. Zheng's title is now executive vice president of 3Com, and chief executive officer of its H3C operation in China. Dr. Zheng's annual base salary was increased to $432,000. The board also increased the annual base salary of Jay Zager, executive vice president and chief financial officer, from $400,000 to $430,000, according to a company filing with the U.S. Securities and Exchange Commission.

From local and wire service reports
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Title Annotation:MONEY
Publication:Telegram & Gazette (Worcester, MA)
Date:Jul 15, 2009
Words:401
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