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Tenet 4Q Loss Narrows On Higher Prices; Sees More Red Ink

admin — Tue, 24 Feb 2009 11:24:34 +0000

Tenet Healthcare Corp.’s
(THC) fourth-quarter loss narrowed as the hospital
operator saw improved results amid higher prices.
The company also projected a 2009 loss bigger than expectations,
, according to
Thomson Reuters. Revenue is seen rising to
$9 billion to $9.2 billion
, in line
with estimates, with admissions growth of as much as 1%. Last year’s admissions
increase was 1.2%.
Tenet, which has been struggling to gain its footing after settling government
probes in 2006 over past pricing plans, has changed management, shed hospitals
and made improvements that earned it good-quality ratings from the Department of
Health and Human Services. Still, it faces high supply costs, delays in key
asset sales and high debt levels.
, or
a share, compared with a
year-earlier net loss of
, or
a share. The latest quarter
included a
write-down from the sale two weeks ago of facilities at
the University of Southern California.
Revenue increased 5.7% to
$2.2 billion
.
$2.21 billion
.
Hospitals have struggled for years with tepid volumes of commercially insured
patients and large numbers of uninsured patients who can’t pay their medical
bills. Now, the credit crisis has prompted many hospitals to delay capital
spending and the recession threatens to further erode business.
Same-hospital adjusted earnings before interest, taxes, depreciation and
amortization, the industry benchmark used to track the financial performance of
those hospitals under a company’s wing for more than a year, climbed 27%.
Same-hospital admissions edged down 0.2%, as more-profitable commercial
managed-care admissions fell 3% and government managed-care admissions increased
10.1%. But inpatient revenue per admission increased 3.6%, with the increase for
outpatients at 7%.
The company’s bad debt expense increased 23%, hurt in part by a decline in its
self-pay collection rate. There is concern that the weak economy, including job
losses in particular, will lead to more uninsured patients, uncompensated care
and bad debt.
Shares were up 12.2% at
$1.10
a share premarket. The stock has lost more than
three-quarters of its value since August.
, Dow Jones Newswires; 201-938-2310; shirleen.dorman@
dowjones.com
(END) Dow Jones Newswires
02-24-09 0825ET
Copyright (c) 2009 Dow Jones & Company, Inc.

Drug recommended to prevent prostate cancer in some older men

admin — Mon, 23 Feb 2009 04:07:14 +0000

The panel stopped short of recommending that all men take the drug because clinical trials have not yet shown that it reduces deaths.
Prostate cancer is the second-leading cause of cancer deaths among men, behind lung cancer, with 186,000 new cases diagnosed and 28,660 deaths each year.
Finasteride is used in low doses under the brand name Propecia as an anti-balding drug and in higher doses under the name Proscar for shrinking enlarged prostate glands. The dose recommended for cancer prevention is the same dosage used in Proscar.
The drug interferes with the production of male hormones, starving the tumors of fuel they need to grow.
A major clinical trial reported in 2003 showed that finasteride reduced the risk of prostate cancer by about 25% in men who took it, preventing about 15 cases in every 1,000 men. That means 71 men would have to take the drug for seven years to prevent one case, Kramer said.
Another drug in the same family, called dutasteride or Avodart, is thought to be even more potent and is undergoing clinical trials for prevention. It is also recommended in the guideline.
The medical groups did not issue new recommendations after the completion of the 2003 trial because it appeared that finasteride might have been promoting the growth of more aggressive tumors at the expense of those that are more benign.
“Now we know this is not the case,” Jacoub said. Subsequent studies have shown that shrinkage of the prostate caused by finasteride simply made the aggressive tumors more easily discovered.
The drug does have side effects in some men, however, including reduced potency and loss of sexual desire. Those effects can go away after a couple of months. On the other hand, the drug can result in reduced incontinence and fewer urinary problems.
Cost can also be a problem. The pills cost $2 to $3 a day, or about $1,000 per year, and most insurers do not cover them for cancer prevention.
Speaking at the news conference, panel member Dr. Howard Sandler of Cedars-Sinai Medical Center said, “If I tried the medication for a month or two and I got some side effects, then for me personally the benefit wouldn’t be worth the risk.” But if there were no side effects, he added, “I might sleep better at night.”

FDA Accepts Nuvo's Resubmission For Pennsaid(R)

admin — Mon, 16 Feb 2009 03:16:10 +0000

August 5, 2009
MISSISSAUGA, ON
,
Feb. 19
/PRNewswire-FirstCall/ – Nuvo Research Inc. (TSX: NRI), a Canadian drug development company focused on the research and development of drug products delivered to and through the skin using its topical and transdermal drug delivery technologies, today announced that the U.S. Food and Drug Administration (FDA) has accepted Nuvo’s resubmission of its application for FDA approval to market Pennsaid in the U.S. as a complete response to the FDA’s
December 28, 2006
Approvable Letter. The FDA has indicated that it intends to advise Nuvo of its decision regarding Pennsaid approvability by
August 5, 2009
(the “PDUFA Date”) under the Prescription Drug User Fee Act.
Pennsaid, a topical non-steroidal anti-inflammatory drug (NSAID), is currently marketed in
and several European countries to treat the pain and symptoms associated with osteoarthritis.
“We are now less than six months away from the anticipated approval of Pennsaid in the U.S.,” said Dr.
, President and CEO of Nuvo Research. “We are extremely optimistic about Pennsaid’s potential for approval and are continuing discussions with potential U.S. licensing partners.”
Pennsaid is a topical non-steroidal anti-inflammatory drug used for the treatment of osteoarthritis. Pennsaid allows the active ingredient, diclofenac, to be delivered to a specific site via the surface of the skin and thus limits complications associated with systemic delivery. According to published clinical trials, Pennsaid is as effective as the maximum daily dose of comparable oral medication at relieving pain and stiffness associated with osteoarthritis of the knee, as well as improving overall well-being. There are more than 27 million Americans suffering from osteoarthritis, a very painful and debilitating condition, and
annually.
About Nuvo Research Inc.
Nuvo is focused on the research and development of drug products delivered to and through the skin using its topical and transdermal drug delivery technologies. Nuvo’s lead product is Pennsaid, a topical non-steroidal anti-inflammatory drug used for the treatment of osteoarthritis. Nuvo intends to leverage its skin-penetrating technologies to create a portfolio of topical and transdermal products targeting a variety of indications.
Nuvo Research Inc. is a publicly traded, Canadian pharmaceutical company headquartered in
Mississauga, Ontario
, with manufacturing facilities in
, Quebec and Wanzleben,
San Diego, California
. For more information, please visit
.
These forward-looking statements, by their nature, necessarily involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. The Company considers the assumptions on which these forward-looking statements are based to be reasonable at the time they were prepared, but caution that these assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect. Factors and risks, which could cause actual results to differ materially from current expectations, are discussed in the annual report, as well as in the Company’s Annual Information Form for the year ended
December 31, 2007
. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether a result of new information or future events, except as required by law. For additional information on risks and uncertainties relating to these forward-looking statements, investors should consult the Company’s ongoing quarterly filings, annual report and Annual Information Form and other filings found on SEDAR at
.

Michael Phelps faces no charges in South Carolina drug investigation

admin — Sun, 15 Feb 2009 20:11:03 +0000

apparently had his picture taken with a marijuana bong in hand just announced that he does not have enough evidence to prosecute the Olympian or anyone else who was present at the November party.
Richland County (S.C.) Sheriff
Leon Lott,
in a news release sent to reporters via e-mail, states that: “Having thoroughly investigated this matter, we do not believe we have enough evidence to prosecute anyone that was present at the November party.
“Michael Phelps and I agree that something positive needs to come from this incident and that is a message of not using drugs.”
I had nothing to do with Michael Phelps coming to Columbia and making a bad decision. He did that. His bad decision and the highly published photo placed me and the Richland County Sheriff’s Department in a no win situation. Ignore it and be criticized or address it and be criticized. I chose to do what was right. While to some it may not have been the most popular decision, it was and is the right decision because of the law and the negative impact it could have on our children in Richland County.
Michael Phelps is truly an American sports hero. I, along with the rest of America, cheered his victories and felt pride when he stood on the podium to receive his medals.
Even with his star status he is still obligated to obey the laws of our state. He is not immune from his responsibilities to do what is right. He is also human and can make a mistake.
I took an obligation in my oath as Sheriff to enforce the law equally and fairly without any personal bias or prejudice.
With Michael Phelps I had to remove his medals, his hero status, and look at him as any other person.
I felt it was important that he be treated fairly, equally and that a message be conveyed that illegal drug use is illegal by anyone.
Our investigation focused on the possession, use and distribution of illegal drugs in Richland County. The incident in November only initiated our investigation, which resulted in the arrests of adults who were at the time of their arrests in possession of illegal drugs. Contrary to some, this was not a special investigation or one that impacted our resources on other crimes. This was in fact a short investigation and simple investigation conducted by narcotics investigators whose sole responsibility is to investigate drug violations. The time and resources were quite minimal when compared to other drug investigations. In the time this investigation was being conducted we solved a murder, ATM robberies and numerous other crimes.
The house of the November party had previously been the subject of a drug case and other crimes. The related house in Irmo had also been the subject of a previous drug case. Both locations were the source of problems in our community.
The charges of those arrested in this investigation will be handled as we do in other similar type arrests.
As with any cop, my responsibility is to enforce the law, not to create it or ignore it. Marijuana in the state of South Carolina is illegal and I am obligated to enforce the law again equally, fairly and without personal bias. I would have been remiss in my duty as Sheriff if I would have ignored the November incident and subsequent drug violations we discovered during our investigation.
By ignoring the November incident, I would have been sending a message of tolerance and condoning the use of illegal drugs. I could not do that, nor have I ever done that. I would be a hypocrite in view of our extensive Drug Abuse Resistance Education (DARE) program that I have been active in for many years. How can we teach kids through DARE not to do drugs, and then look the other way if it is an important person?
Our message has to be loud, clear, and consistent, don’t do drugs.
I have always advocated that we cannot arrest our way out of the drug problem. We must do it through enforcement and education such as the DARE program utilizes.
Having thoroughly investigated this matter, we do not believe we have enough evidence to prosecute anyone that was present at the November party.
Michael Phelps and I agree that something positive needs to come from this incident and that is a message of not using drugs.
He can speak on this issue from his perspective.
My perspective is that the law pertains to everyone and our drug laws are to be enforced.
My hope again is that we all take this incident and make something positive from it. Parents please take this opportunity to talk with your children about illegal drug use. During my 34 years in law enforcement I have seen lives and communities destroyed due to drugs. We all must work together to protect our children and our communities. Now is the time to educate our young people, the decisions they make today can impact them for the rest of their lives.”
Photo: Michael Phelps is shown during the Beijing Games last August. Credit: Timothy Clary / AFP / Getty Images

FDA reports Salmonella in peanut butter tied to Texas plant

admin — Thu, 12 Feb 2009 23:06:46 +0000

Editor’s note: This story was revised shortly after publication to include comments from an official of Vitamin Cottage Natural Foods, the firm that sold the peanut butter in which Salmonella was found.
Feb 17, 2009 (CIDRAP News) – The US Food and Drug Administration (FDA) offered additional evidence today that the Peanut Corp of America (PCA) plant in Blakely, Ga., may not be the only PCA facility that has contributed to the nationwide
outbreak linked to peanut products.
Typhimurium matching the national outbreak strain was found in an opened jar of peanut butter that a Colorado patient had bought from Vitamin Cottage Natural Foods, a retailer that made peanut butter from peanuts supplied by PCA’s processing plant in Plainview, Tex.
Vitamin Cottage, based in Lakewood, Colo., and the Colorado Department of Public Health and Environment (CDPHE) announced 2 weeks ago that the company was recalling its fresh-ground peanut butter because the CDPHE had determined that three patients infected with the outbreak strain of
had eaten the company’s peanut butter.
“The peanuts used to make it originated from the PCA plant in Plainview, Tex., and since they announced the recall, the same strain of
Typhimurium was identified in an open container of peanut butter that came from one of the individuals who became ill,” Cianci told CIDRAP News. He said the Centers for Disease Control and Prevention (CDC) had confirmed the finding by Feb 13.
Late today, Kemper Isely, co-president of Vitamin Cottage, said the FDA had informed him of the positive finding this afternoon. “Of two consumer samples, they found one of them to have
in it. It [the jar] was open,” he said.
He said FDA officials had visited the company’s facility and tested its peanut grinding machines without finding any contamination. “They swabbed six of our machines and didn’t find
in them,” nor did they find the pathogen in new peanut butter samples, he said.
Cianci and Isely said that because the peanut butter from the patient’s home had been opened, officials couldn’t exclude the possibility that the product somehow became contaminated after it was produced.
found in the Colorado peanut butter matched the national outbreak strain even though it was made from peanuts that did not come from the Blakely, Ga., peanut processing plant. “There may be reasons for that other than just coincidence. I don’t know what the shipping patterns were,” he said.
Until recently, the Blakely plant was regarded as the sole source of the outbreak. But the Texas facility came under scrutiny after the outbreak triggered investigation of the company.
The Associated Press reported on Feb 3 that the Texas plant had operated for several years with no license and no government health inspections. Although initial inspections reportedly revealed no contamination problems in the plant, last week the president of a private laboratory told a congressional committee that his firm had found
in a product sample from the plant on Feb 8.
The Texas Department of State Health Services (DSHS) ordered PCA on Feb 12 to recall all products ever shipped from the Plainview plant. The agency said dead rodents, rodent excrement, and bird feathers had been found in a crawl space above a production area there. State inspectors also found that the plant’s air-handling system was pulling debris from the infested crawl space into production areas of the plant, the DSHS said.

Studies find numerous health benefits of Mediterranean diet

admin — Thu, 12 Feb 2009 18:49:55 +0000

Two separate studies have linked Mediterranean diet to a lower risk of heart disease in women and prostate cancer in men.
Researchers from Simmons College in Boston found that women whose diets most closely resembled the Mediterranean diet were 29 percent less likely to suffer from heart disease, and 13 percent less likely to have a stroke compared with those whose diets least resembled it.
This type of diet is includes monounsaturated fats, vegetables, whole grains, fish, and moderate consumption of alcohol while limiting red meat, refined grains, and sweets intake.
.
Meanwhile, according to two doctors writing for UroToday.com, a urology news website, a type of Mediterranean diet called the Cretan diet may be helpful in reducing prostate cancer risk.
This type of diet is based on plant foods – fruits, vegetables, wholegrain cereals, nuts and legumes – olive oil as the main source of fat, low consumption of red meat, moderate intake of dairy foods, high intake of fish and moderate use of wine.
According to CDC, heart disease is the leading cause of death in both women and men in the United States. Prostate cancer is the most common cancer in men, and the second leading cause of death in that group.

Health Groups Slam Tobacco Marketing to Women

admin — Wed, 11 Feb 2009 13:03:07 +0000

WEDNESDAY, Feb. 18 (HealthDay News) — New tobacco company marketing campaigns that target women and girls are the most aggressive in more than a decade, a new report concludes.
That marketing needs to be curbed by giving the U.S. Food and Drug Administration authority over tobacco products, according to the report, released Wednesday by a coalition of major U.S. public health organizations.
Campaigns launched in recent years by the nation’s two largest tobacco companies — Philip Morris USA and R.J. Reynolds — depict cigarette smoking as feminine and fashionable rather than the harmful and deadly addiction it really is, according to
. The report was issued by the Campaign for Tobacco-Free Kids, American Cancer Society Cancer Action Network, American Heart Association, American Lung Association and Robert Wood Johnson Foundation.
Late last year, for example, Philip Morris USA announced it would sell its Virginia Slims brand in “purse packs” — small, rectangular cigarette packs that are half the size of regular cigarette packs. The packs resemble cosmetics cases and come in mauve and teal.
And in early 2007, R.J. Reynolds introduced a new version of its Camel cigarettes, called Camel No. 9. The name evokes famous Chanel perfumes, and the cigarettes are packaged in shiny black boxes with hot pink and teal borders. Magazine ads for the cigarettes featured flowery imagery, vintage fashion and promotional giveaways that included lip balm, cell phone jewelry, tiny purses and wristbands, all in hot pink.
“These new marketing campaigns by Philip Morris and R.J. Reynolds show contempt for the health of women and girls,” Matthew L. Myers, president of the Campaign for Tobacco-Free Kids, said in a news release. “The tobacco industry’s aggressive marketing demands an equally aggressive response from our nation’s elected leaders. By granting the FDA authority over tobacco products, the Congress can crack down on the industry’s most harmful practices.”
The new campaigns are the latest in the tobacco industry’s long history of targeting women and girls, the report said.
Smoking remains the leading cause of preventable death among women, killing more than 170,000 women in the United States each year, according to the report. Lung cancer is the leading cause of death from cancer of U.S. women, and deaths are not decreasing among women as they are among men, according to cancer statistics released in December. In addition to lung cancer, smoking increases women’s and girls’ risk of numerous serious health problems, including heart attack, stroke, emphysema and many other types of cancer.
“Big tobacco’s blatant targeting of women is just an extension of a decades-long campaign of fraud and deception designed to addict children and adults to its deadly products,” John R. Seffrin, chief executive of the American Cancer Society and its affiliate, the American Cancer Society Cancer Action Network, said in the news release. “Congress must empower the FDA to regulate tobacco products to put a stop to the harmful practices of an industry that has had free reign for far too long.”
Though they’re the leading cause of preventable death in the U.S., tobacco products are virtually exempt from regulation. That would change if the FDA gains authority over tobacco products, said the health coalition, which is urging Congress to pass legislation expected to be reintroduced by Rep. Henry A. Waxman, a California Democrat, and Sen. Edward M. Kennedy, a Democrat from Massachusetts.
Ban misleading health claims, such as “light” and “low tar” and strictly regulate all health claims about tobacco products
Require larger, more effective health warnings on tobacco packages and advertising
Grant the FDA authority to require changes in new and existing tobacco products to protect public health, such as the removal or reduction of harmful ingredients
“This report is a sober reminder that the tobacco industry has become more aggressive in marketing deadly products to women,” Nancy Brown, chief executive of the American Heart Association, said in the news release. “Hip and trendy packages cannot disguise the health hazards of smoking and the risk for heart disease and stroke. We must give the Food and Drug Administration the authority to rein in the industry’s relentless campaign to manipulate young women with products that send the wrong message.”

Former Manager Says Peanut Plant Complaints Ignored

admin — Wed, 11 Feb 2009 08:18:28 +0000

A manager at the Peanut Corp. of America’s plant in Plainview, Texas, said he repeatedly complained to the company owner,
, and the Texas Department of Health about unsanitary conditions at the plant.
Kenneth Kendrick said in an exclusive interview today with “Good Morning America” that when he worked at the Texas plant in 2006, he told Parnell about a rodent infestation and a leaky roof.
“Water, particularly anything leaking off a roof, and this is where things get a little disgusting, is there’s bird feces washing in,” Kendrick said on “GMA.”
Peanut Corp. of America, the company at the center of a
, filed for bankruptcy Friday.
Parnell appeared in Washington Wednesday for a congressional hearing about the tainted peanut products, but he refused to answer lawmakers’ questions, citing his Fifth Amendment rights.
Kendrick said Parnell would not provide money to fix problems and unsanitary conditions.
“The owner wouldn’t give us the money to do what we needed to do. The funds were not there,” Kendrick said.
Kendrick said the issue of sick customers never came up. “I don’t know if he [Parnell] even thought about it,” he said. “The concern for Mr. Parnell was the money issues.”
Calls to Peanut Corp. of America for a response to Kendrick’s claims were unreturned.
Kendrick also said he sent an e-mail to the Texas Department of Health but never received a response.
“I wasn’t sure how to take that,” he said. “I was just kind of taken aback.”
Texas officials told ABC News they’ve searched through their database and found no record of any e-mails from Kendrick.
Kendrick said he’s speaking out now because his granddaughter became ill with salmonella-type symptoms for three weeks in December, a time when she only wanted to eat peanut butter crackers.
“So I kept giving her the crackers and she kept getting sicker,” Kendrick said. “I’ve had a lot of sleepless nights over that, a lot of crying over that issue.”
Kendrick said he’s also speaking out after seeing the anguish of other families who have dealt with illnesses.
“I hope he [Parnell] never has to witness anyone in his family going through what my family and other families have,” Kendrick said. “I wouldn’t wish that even on Mr. Parnell.”
Peanut Corp. of America’s Friday bankruptcy filing came after the list of recalled peanut products grew even longer Thursday night, when the company announced it was recalling all products shipped from a second of its plants. Of three plants owned by the company, both its Blakely, Ga., and Plainview, Texas, facilities have found evidence of possible salmonella and unsanitary conditions.
The Plainview plant had a long list of customers that, at one point, did business with the facility, including big names, such as Abbott Laboratories, Frito-Lay, General Mills, Kellogg and Whole Foods. Some 1,900 products now grace the list of one of the largest food recalls in U.S. history.
“The news from Texas state health officials of conditions at PCA’s Plainview plant is alarming,” said Rep. Bart Stupak, D-Mich., in a statement Thursday night. “I am pleased Texas officials have taken immediate action to recall every product ever produced at the facility.”
“More alarming is the concern that there could be hundreds or even thousands of food processing facilities operating in this country that have never been inspected by the FDA, just as this plant has been doing since March 2005,” said Stupak, who serves as chairman of the panel that examined the issue Wednesday.
What’s Safe to Eat?
According to a survey released Friday, many Americans are confused about what products the peanut recall includes. A study released by the Harvard School of Public Health found that one in four Americans mistakenly thought big brand names of peanut butter were already included, though they are not. The study also found that one in three are not confident that the food service industry and government inspectors can keep food safe.
Brand name peanut butter is still said to be safe for consumption, whereas smaller peanut butter brands and a variety of other products containing peanuts, from crackers and candies to ice cream, have been recalled.
.
has resulted in 600 illnesses and an estimated nine deaths believed to be linked to bad peanuts.
This week, lawmakers and victims’ families expressed their anger over the outbreak and questioned the ability of the the food industry and the government to keep products safe.
Truck drivers, too, have started to blow the whistle. First reported by
, the driver of a truck traveling from Texas to Georgia said that along the way, packages of peanut paste burst in the back of his rig. After shoveling the paste out and putting it in barrels, the shipment was rejected at one Georgia company, but the Peanut Corp. of America signed for it and accepted the delivery.

Dance raises $159K for Riley hospital

admin — Wed, 11 Feb 2009 03:54:36 +0000

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Health Buzz: Tumors After Stem Cell Injections and Other Health News

admin — Tue, 10 Feb 2009 12:30:12 +0000

, according to a new report in the journal
. The child had a rare, deadly brain disease called ataxia telangiectasia, or A-T. The disease can lead to degeneration of a region of the brain; most people with A-T die by their teens or early 20s. The boy had traveled to Russia at age 9, when he was injected with fetal neural stem cells in his brain and spinal cord, the Associated Press reports. He received two additional sets of injections at ages 10 and 12. By age 13, the boy needed a wheelchair for his A-T, and he was experiencing headaches. The tumors in his brain and spinal cord were discovered soon after that. A test of the tissue found that the tumors were caused by the fetal cells.
Treatments involving stem cells, such as a
, are still viewed as experimental, yet some researchers believe they may help certain medical problems. Consider these
for certain diseases. Also, human stem cells now can be
, without using embryos or eggs.
Electronic Medical Records: Will Your Privacy Be Safe?
Electronic medical records have become a national goal, a way to
used in most medical settings today, Bernadine Healy reports. President Obama has made revamping the medical system a top priority, with the national electronic medical record first up in healthcare reform. Indeed, the economic stimulus package assigns billions of dollars to that effort. In light of public sensitivity, this major jump-start for centralized records comes with provisions to further strengthen privacy laws.
While electronic medical records are being touted as part of the key to an efficient healthcare system in the future, some doctors have been
.
Stressed Out? Find a Great Deal at a Spa
is not a word that traditionally has been associated with the spa industry. Yet, people looking for relief from the stress brought on by their shrinking portfolios will find that spas nationwide are
, Lindsay Lyon reports. “I’ve been in the spa industry 30 years, and I have never seen so many deals and so many good deals . . . unprecedented deals,” says Susie Ellis, president of SpaFinder.com, a website that helps people research and book visits at more than 5,000 day, resort, and destination spas worldwide. Many vacation spas, Ellis says, are lowering room rates, tossing extra services or meals into their overnight packages, allowing a free guest, or slashing the package price of midweek stays, for example.
Looking for an escape? Here are
at spas around the country. If visiting a spa isn’t in your budget, check out these
.
—January W. Payne
rom USNews.com
Need Care? Scan the Rankings: