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Morning Read: Childhood pals accused of insider trading on Pfizer acquisitions, Shkreli hit with conspiracy charge

Plus, high-deductible health plans cause patients to delay care, Tutera Group is cleared of Medicare fraud charges and the FDA is said to clear many medical devices before the public sees relevant safety studies.

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TOP STORIES

Former Oppenheimer & Co. investment advisor David Hobson of Providence, Rhode Island, was arrested on charges of insider trading. The feds said Hobson received tips on Pfizer acquisition targets from childhood friend Michael Maciocio, a planner in the drug giant’s Active Pharmaceutical Ingredient Supply Chain Group. Maciocio later ratted out Hobson to avoid prison. — Bloomberg

Speaking of criminal probes in the pharma business, our old pal Martin Shkreli has been hit with a new conspiracy charge. — The Wall Street Journal

High-deductible health plans are causing patients to delay care. Physicians should have a game plan for dealing with such unfortunte circumstances. — Medical Economics

LIFE SCIENCES

Vedanta Biosciences, a Cambridge, Massachusetts-based startup that’s testing microbes as drugs, has raised $50 million. — Xconomy

A report out of London suggests that the FDA often clears medical devices before the public gets a chance to see relevant safety and effectiveness studies. — Reuters

Theranos may be sinking, but Elizabeth Holmes will get to keep her honorary doctorate from Pepperdine University. — BioSpace

Big Pharma, meet Big Biotech. — STAT

Ganymed Pharmaceuticals, backed by billionaire German twins Thomas and Andreas Strüngmann, created some buzz at ASCO on Sunday with an investigational drug to treat gastric cancer. — FierceBiotech

Also at ASCO, Roche reported that a newly approved immunotherapy could become the first option for patients with metastatic bladder cancer. — Reuters

PAYERS/PROVIDERS

Tutera Group, developer of nursing homes and other senior care facilities, has been cleared of Medicare fraud charges. — Kansas City Business Journal

What’s it like for a cancer surgeon to fight breast cancer herself? — The New York Times

Health and wellness magazine Prevention is going ad-free and introducing a paywall. — The New York Times

TECHNOLOGY

A research team from Harvard has developed a flat lens made from paint whitener on a fine sliver of glass that is said to produce sharper optics than today’s high-end microscope lenses. — BBC News

Texas startup Valify, which makes software and analytics technology to help healthcare organizations track the performance of their vendors, will announce Monday that it has raised a $2 million Series A round. — Xconomy

Research platform iPug, founded in Australia, is launching in the U.S. at BIO 2016 this week. — Business Wire

British startup Vinaya hit its crowdfunding target of $100,000 for an emotion-tracking bracelet after just 41 hours on Indiegogo. — Business Insider

POLITICS

Four major provider organizations are urging swift legalization of assisted dying in Canada. — Canada Newswire

A LITTLE BIT EXTRA

Brian Johnson had to step down as lead singer of rock band AC/DC a few months ago due to hearing loss. But a new, “breakthrough” in-ear monitor may allow him to return to touring. — Ultimate Classic Rock

Photo: Flickr user Scott Davidson

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