Juul Looks At Investor Bailout After FDA’s Sales Ban Effort

The e-cigarette maker is trying to stave off bankruptcy, the Wall Street Journal reports, by talking with major investors about bailout money in the wake of legal battles over sales bans of its vaping products. Also: Abbott Nutrition, online prescribing, a dry shampoo recall, and more.

The Wall Street Journal:
Juul Discusses A Possible Bailout With Two Of Its Biggest Investors 

Juul Labs Inc. is in talks with two of its biggest investors on a bailout that could help the e-cigarette maker stave off a bankruptcy filing, according to people familiar with the matter. Hyatt Hotels heir Nick Pritzker and California investor Riaz Valani are considering putting up money to cover the vaping company’s operations and near-term legal liabilities, the people said. Messrs. Pritzker and Valani were early investors in Juul, have been longtime directors and are among the company’s largest shareholders. (Maloney, 10/24)

On the baby formula shortage —

Food Safety News:
Abbott Nutrition Puts Up $500 Million For New State Of Art Baby Formula Production 

Abbott Nutrition’s Chairman, and Chief Executive Officer, Robert Ford has announced that his company is putting up $500 million for a new infant formula manufacturing facility at a location yet to be determined. His announcement came during a quarterly phone conference with investment analysts as the troublesome infant formula shortages continue to plague the United States. Shortages have continued even after the Abbott baby formula plant in Sturgis, MI, got back online. (Flynn, 10/25)

In other pharmaceutical industry updates —

Bloomberg:
What The Alzheimer’s Drug Breakthrough Means For Other Diseases

It’s been three decades since scientists hypothesized that Alzheimer’s is caused by a buildup of amyloid beta protein in the brain. But it wasn’t until last month that drugmakers achieved a major breakthrough, with Japan’s Eisai Co. and its US partner Biogen Inc. releasing results from a large-scale trial showing they were able to blunt the disease’s progression. (Matsuyama, 10/24)

Stat:
Pharma Is Investing In Online Prescribing. Who’s Keeping Watch?

Over the course of the pandemic, online prescribing has been embraced as a powerful tool in health care — not just by patients, but by a growing number of drug companies. Drawn in by the promise of direct access to patients, dozens of pages run by pharmaceutical companies now offer a way for people scrolling their sites to connect directly with a virtual provider who can write a prescription. (Palmer, 10/25)

CBS News:
American Woman Sues L’Oreal, Claiming Hair Products Tied To Cancer

An American woman who contracted uterine cancer after using chemical hair straightening products sold by L’Oreal USA sued the company on Friday. The complaint, filed in Illinois federal court, alleges that the woman’s cancer diagnosis “was directly and proximately caused by her regular and prolonged exposure to phthalates and other endocrine disrupting chemicals” found in L’Oreal products. (10/24)

CNN:
Dove, Nexxus And Other Dry Shampoos Recalled For Cancer-Causing Chemical

Unilever has recalled certain Dove, Nexxus, Suave, TIGI and TRESemmé aerosol dry shampoos because of the potential presence of benzene, a chemical that can cause cancer. (Meyersohn, 10/24)

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