Thursday, September 09

Pharma & Health Care

Most medical billing schemes are under-the-radar scams, like the $60 office visit that suddenly morphs into a $500 “consultation.”

But every so often, Douglas Falduto’s staff of 26 investigators stumbles over something more sinister — like the case of the phantom bunionectomies.
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Dr. Joseph Bertino didn’t mince words when asked about a federal judge’s recent decision to halt federal funding of embryonic stem cell research.

“It’s a disaster,” said Bertino, interim director of the Stem Cell Institute of New Jersey and a professor of medicine and pharmacology at the University of Medicine and Dentistry of New Jersey-Robert Wood Johnson Medical School.
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Prescription drug spending for children is on the rise, according to a new study, which could mean big business for the state’s pharmaceutical sector as it works to cater to younger patients.

A 2010 drug trend report by Franklin Lakes-based Medco Health Solutions found spending on children’s pharmaceutical drugs rose 10.8 percent in 2009, a rate nearly four times higher than the broader population. Contributing factors included a 5 percent increase in drug use among children, and a 9 percent increase in the cost of branded drugs.
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The longtime communications director for the Healthcare Institute of New Jersey has left to take a post in the administration of Gov. Chris Christie, as the group aims to appoint a new top executive in the coming months.
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British-based specialty pharmaceutical company Archimedes Pharma opened its new U.S. headquarters in Bedminster last week, hoping to capitalize on the state’s wealth of pharma talent.
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Even though she has a doctorate in chemistry and more than a decade of experience in pharma, industry consolidation left Thuy Le without full-time work.
Now, four months into her job search, the South Brunswick resident said she’s willing to look for work outside New Jersey, if necessary.

“It’s a mixed feeling, because I would be able to go back [to a full-time position] and do what I like to do, but it’s sad, because I’ve been here for a long time,” Le said.
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