Must Reads: Nissan off Shack jersey, Giro Donne back in 2013, Amgen to pay $762 million, Herbalife under fire

Drug-maker Amgen will pay $762 million in penalties and whistleblower settlements over off-label drug recommendations

Nissan jumps off jersey — Le Quotidien

Luxembourg newspaper Le Quotidien is reporting that Nissan has asked to have its name removed from the jerseys of the RadioShack-Nissan-Trek team for 2013. The car company is contractually bound for 2013 and is believed to be paying its final year, but does not want to appear on the uniforms of the team formerly managed by embattled Johan Bruyneel.

The team appears set to take the name RadioShack-Trek.

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Giro Donne for 2013 — Cycling Weekly

The Italian cycling federation has said that the Giro Donne, the top women’s stage race in the world, will go on in 2013, despite the exit of the race’s technical services provider. Gregor Brown reports that the Giro will take place under new management in 2013.

“We have other good organizers able to make it happen,” said federation president Renato Di Rocco. “We certainly want to have it. We just need to wait until after the federation’s elections on January 12 to give it to a new organizer.”

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Amgen to pay $762 million over off-label case — The New York Times

Biotechnology firm Amgen has agreed to pay $762 in criminal penalties and whistleblower settlements after admitting to marketing its anemia drug Aranesp for uses the Food and Drug Administration previously rejected. According to The New York Times, more revelations could be forthcoming in the case.

“The presiding judge, Sterling Johnson Jr., scheduled a hearing for Wednesday to announce whether he will accept the agreement,” write Andrew Pollack and Mosi Secret. “If he does, a broader settlement and as many as 11 whistle-blower lawsuits would be made public, some containing accusations beyond those to which Amgen pleaded guilty.”

Amgen is the title sponsor of the Tour of California and has produced multiple iterations of the drug Erythropoietin (EPO).

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Herbalife share prices plummet — Yahoo! Finance

Share prices for nutrition and weight loss company Herbalife plummeted on Wednesday after a major hedge fund advisor disclosed that he was shorting the brand’s stock. After CNBC reported that William Ackman, founder and CEO of Pershing Square Capital Management L.P., had taken a short position on the company’s stock, its value declined 12 percent, to $37.34 per share. According to AP, Ackman is the second major fund manager to publicly accuse the company of being a pyramid scheme this year.

Herbalife chairman and CEO Michael Johnson called the pyramid-scheme accusation “bogus” and said, “Make no mistake: Today’s announcement isn’t about Herbalife’s business model. It’s about Bill Ackman’s business model.”

Herbalife is a sponsor of endurance events and has worked closely with the Leadville Trail 100 and in recent years.

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