Mylan, the marker of the EpiPen, has agreed to pay the federal government a $465 million settlement after it allegedly overcharged government healthcare agencies for the medicine, according to a release from the firm.
Mylan had underpaid Medicare and Medicaid by classifying the EpiPen as a generic drug. Generic drugs are subject to a 13% rebate from the maker to Medicaid and Medicare, rather than a 23.1% rebate for brand name drugs.
"This agreement is another important step in Mylan's effor
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The maker of EpiPen has agreed to pay the government $465 million after allegedly overcharging for the medicine
-
STOCKS GO NOWHERE AFTER THE JOBS REPORT: Here's what you need to know (SPY, SPX, DJI, IXIC, TLT, TLO, USD, DXY, USO, WTI, OIL, VDE, DB)
Stocks closed little changed on Friday after the jobs report showed a smaller gain than expected. The S&P 500 logged a weekly loss for the first time in four weeks.
First, the scoreboard:
Dow: 18,240.49, -28.01, (-0.15%)
S&P 500: 2,153.74, -7.03, (-0.33%)
Nasdaq: 5,292.40, -14.45, (-0.27%)
The US economy added 156,000 jobs in September, fewer than the 172,000 expected. The unemployment rate rose to 5% as labor-force participation also improved. Wage growth remained modest -
Canada Goose — the celebrity-endorsed maker of $800 parkas — is reportedly worth $2 billion
Canada Goose may be preparing for an IPO as soon as 2017, according to reports.
The Canadian sportswear company, which may be worth up to $2 billion, is known for its pricey winter jackets often seen on the backs of celebrities and movie stars filmed in cold climates.
In recent years, they've found their way to the streets of major cities. The red, white, and blue patch is unmistakable.
If you ask the owners of these jackets — which typically retail between $600 and $800 — why t -
REPORT: Canada Goose is looking to go public at a $2 billion valuation
Canada Goose, the Canadian winter apparel manufacturer, is planning to go public, according to The Wall Street Journal.
The flotation could value the company at as much as $2 billion, and may take place as early as next year, according to the report.
The Toronto-based company has not yet hired bankers, but rather is interviewing potential underwriters, according to sources cited by The Journal.
Canada Goose is known for its winter coats with a signature red, white, and blue patch on the sleeve. -
If the US took a hurricane hit like Haiti, it would cost almost $2 trillion
As Hurricane Matthew continues to hit the coast of Florida and Georgia, the devastation left in its wake is beginning to come into view.
In Haiti, the human and economic toll of the hurricane has been especially high. The most recent estimate from the government is that 842 people lost their lives due to the storm.
In addition to the loss of life, the most recent estimates of the economic damage to the nation are truly staggering. According to the Haitian aid group CARE, the damag -
The pound is officially all about politics
The British pound has had a dreadful few days.
The currency started the week by tumbling to a 31-year low against the dollar following comments from Prime Minister Theresa May on Sunday indicating that Article 50 would be triggered by the end of March 2017, which would begin the official process of Britain leaving the European Union.
Then, sterling flash-crashed in early Asian trade on Friday, collapsing by as much as 6%, to 1.1841, against the dollar before bouncing back. It slipped again aroun -
Gold is buried 'knee-deep inside a commodity bear super-cycle' (GLD)
To put it simply, the last few weeks have not been too kind to gold.
The shiny metal was at its highest level since March 2014 and threatening to break through the $1,350 per ounce level. But then the Bank of Japan said it would target its yield curve rather than increase its quantitative-easing program, and a Bloomberg report surfaced that the European Central Bank was considering tapering its asset purchase program.
That one-two punch, combined with rising expectations of a Federal Reserve rat -
The dollar is slipping after the jobs report
The dollar slipped after the somewhat disappointing jobs report.
The US dollar index is down by 0.1% at 96.65 as of 1:56 p.m. ET, after hovering in the green earlier in the morning.
Data released Friday by the Bureau of Labor Statistics showed that the US economy added 156,000 jobs in September and that the unemployment rate unexpectedly ticked up to 5.0% as more people were looking for work.
Still, "it remained strong enough to indicate that the job market is still robust, w -
'No alarms, no surprises': What you need to know on Wall Street right now
Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.
To sign up, scroll to the bottom of this page and click "Get updates in your inbox," or click here.
The US economy added 156,000 jobs in September — fewer than expected — and the unemployment rate unexpectedly ticked up on the back of increased labor force participation.
That said, the results were strong enough to indicate that the job market is still robust, with employers una -
FEMA is tracking Hurricane Matthew using the 'Waffle House Index'
The government uses an unconventional method to track the seriousness of natural disasters: by monitoring if local Waffle House restaurants stay open.
Follow BI Video: On TwitterJoin the conversation about this story » -
The Flash Pack: Marketing Manager
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Facebook, Fitbit and Mastercard – 5 things that mattered this week
Sir Martin Sorrell: Facebook cannot claim a three-second view is the same as a TV ad
Sir Martin Sorrell, the boss of WPP, believes more needs to be done to improve ad measurement and validation on social media sites.
Speaking at the Festival of Marketing on Wednesday (5 Oct), he admitted that five years ago analysts saw Facebook and Google as “enemies” of WPP, but now he sees them more as frenemies.
This year, Google was WPP’s biggest media investment and he said by 2018 h -
Jo Malone: ‘Great brands make consumers the creative heartbeat’
“You look at all the great brands that succeed today, they all have storytelling elements. They draw the customer in to be the creative heartbeat as well as the consumer of their product,” says entrepreneur and fragrance retailer Jo Malone.
Since bursting into the beauty industry with her eponymous fragrance brand in 1991, Malone has learnt a lot about the art of brand building, including what it takes to sell her company to beauty mega-brand Estée Lauder for an undisclosed si -
How to avoid being deleted by consumers
Marketing via email, text and push notification may be an effective way to grab customers’ attention, but strike the wrong note and brands are at risk of being deleted by consumers who resent the intrusion of irrelevant communications.
Two in five consumers feel “overwhelmed” by the volume of brand communications, according to research from marketing analytics company Aimia.
Nearly half of the 2,000 UK respondents (48%) say they receive too many SMS messages, up from 39% in 201 -
What a tour of San Francisco startups reveals about the future of marketing
San Francisco is home to many of the world’s most famous disruptor brands, including the likes of Uber, Fitbit, Pinterest and Twitter. While out in San Francisco at Salesforce’s Dreamforce conference, we went on a tour of some of the next-generation of startups to find out what the future of tech and marketing has in store.
Taking VR to the next level
First on the agenda was Leap Motion, which put simply, creates virtual reality (VR) experiences. The company, which was -
What a tour of San Francisco startups revealed about the future of marketing
San Francisco is home to many of the world’s most famous disruptor brands reside there, including the likes of Uber, Fitbit, Pinterest and Twitter.
As is tradition, cloud computing group Salesforce (itself a native of San Francisco) organised a tour of some of the next generation disruptors as a prelude to its huge Dreamforce conference. Two coach-loads of international journalists were herded across the city to find out what the future of tech and marketing has in store. Th -
Digital marketing metrics – latest Marketoonist
Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne
See more of the Marketoonist here -
Digital marketing metrics
Tom Fishburne is founder of Marketoon Studios. Follow his work at marketoonist.com or on Twitter @tomfishburne
See more of the Marketoonist here -
Longhurst Group: Copy and Contents Officer
£26,700 per annum:Longhurst Group:
This is an exciting opportunity to influence the direction of the organisation’s communications as they move into a new era.Birmingham, Boston (Lincolnshire) or Rushden (Northamptonshire) -
The Jefferson Group: Account Director - B2B integrated agency
£45-55k plus benefits :The Jefferson Group:
This isn't your typical agency or your typical Account Director role. Take a moment and read on and decide for yourself if you'd like to know more...London (Central), London (Greater) -
YouTube didn't work for McDonald's
LONDON: McDonald's, the quick service restaurant, closed down a youth-focused channel on YouTube earlier this year because it wasn't generating enough interest, but marketers at the company say they have learned from the experience.Like many other... -
Search ads come to Apple App Store
SAN FRANCISCO: Tech giant Apple has started serving ads based on search results to users in its App Store in the US, in a move that could help app developers as well as extend Apple's offering to brands.The company -
Chinese are confident of world role
BEIJING/WASHINGTON DC: Three-quarters (75%) of Chinese citizens believe China is playing a more important role in world affairs than a decade ago and 60% say its involvement in the global economy is a good thing, a new survey has found.But while... -
Australian viewing habits evolve
SYDNEY: Most Australian households now own numerous screens, with most of them internet-connected, but the great majority of viewing continues to happen on traditional TV sets, a new report has shown.The latest -
Attitude, not age, is key for research
LONDON: Brands' marketers devote considerable resources into trying to understand the preferences of millennials, but they would achieve better results if they based their research on behaviour and attitudes regardless of age, gender or income. ... -
Apple tops brand list by $45bn
NEW YORK: Apple and Google have once again been named as the top two most valuable brands in the world, while Facebook is the fastest growing, according to new global rankings.The latest -
AB InBev taps outdoor innovation
NEW YORK: Anheuser-Busch InBev, the brewing giant, has successfully explored some of the new outdoor digital marketing solutions which could ultimately come to form part of the "physical web".Sarah Jones, AB InBev's Manager of Connections... -
Verizon reportedly wants a $1 billion discount on Yahoo deal because of the huge hacking scandal (YHOO, VZ)
Verizon is asking for a $1 billion discount on the Yahoo acquisition deal, after learning about the massive data breach last month, according to the New York Post's Claire Atkinson.
The Post's report, citing "several sources," says AOL CEO Tim Armstrong is "pretty upset" about Yahoo's lack of disclosure about the hack, and is even questioning if there's a way to pull out of the deal entirely.
The report says that Verizon believes Yahoo's value has been "diminished," while Yahoo has pus -
Snapchat had decided it needs to IPO to fight Facebook
Snapchat's IPO is coming in the first half of 2017, in an offering that could value the hot social networking app at $25 billion.
The company, which recently rebranded itself as Snap and announced plans to branch into hardware, is set to be the tech industry's biggest Wall Street debut in years. The IPO market has been somewhat dormant of late, and it's become fashionable among some tech companies to resist going public.
So why is Snapchat going public?
A source familiar with the matter te
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