Tag "3"

Congressman Fattah of Philadelphia charged in racketeering conspiracy

(Reuters) – The Justice Department on Wednesday said it charged Representative Chaka Fattah, a Pennsylvania Democrat, and four of his associates with participating in a racketeering conspiracy and other crimes. The department said Fattah, who represents Philadelphia in the House of Representatives, and the others faced a 29-count indictment including charges of bribery, mail fraud, falsification of records, bank fraud, money laundering and other crimes related to Fattah’s 2007 unsuccessful

Humana says medical costs cut into second-quarter profit

(Reuters) – Health insurer Humana Inc , which earlier this month agreed to be bought by Aetna Inc for $37 billion, on Wednesday reported a rise in a key medical cost metric that missed analyst expectations. Humana’s consolidated benefit ratio, or the ratio of its spending on medical claims versus premium revenue it takes in, was 85.2 percent compared with 83.1 percent a year ago. Leerink Partners analyst Ana Gupte

Express Scripts says costly new cholesterol drugs could wreak havoc

(Reuters) – Express Scripts Holding Co, the largest pharmacy benefit manager in the United States, on Wednesday said the cost of potent new cholesterol drugs called PCSK9 inhibitors could “wreak financial havoc” among its clients. U.S. regulators on Friday approved the first of the new medicines, Praluent from Regeneron Pharmaceuticals Inc and Sanofi SA. Given every other week by injection, Regeneron said it will have a wholesale price of $1,120

CGI exiting low-margin markets, eyes M&A in cyber security

By Alastair Sharp TORONTO (Reuters) – CGI Group Inc , the information systems and management consultancy, said on Wednesday it would target acquisitions in cyber security while exiting some markets entirely, as it reported third-quarter profit and revenue that missed estimates. The company’s chief executive officer said it has compiled a short list of 85 potential acquisition targets that would help it grow by delving deeper into industries, three years