Exclusive: Sexual harassment inside biotech’s biggest hedge fund

Home / Pharmaceutical Updates / Exclusive: Sexual harassment inside biotech’s biggest hedge fund

Sam Isaly, the founder of biotech’s largest and most powerful hedge fund, has for years perpetuated a toxic culture of sexual harassment, former employees told STAT, routinely subjecting young female assistants to pornography in the workplace, lewd jokes, and pervasive sexist comments. One woman said on several occasions, she glimpsed hardcore pornography playing on the large screens that dominated the trading room floor of the $15 billion fund. Isaly denied allegations of sexual harassment and pornography in the workplace, pausing after each question before saying “no” or “not to my recollection.”

During an interview with Isaly, the firm’s head of human relations, Kirsten Kearns, first said there had never been complaints about Isaly. Later, Kearns said that the firm had investigated claims against Isaly and had concluded none rose to the level of “a sexually egregious behavior.” Moments after the story was published last night, OrbiMed sent a statement saying it takes the allegations seriously and had hired an investigator to look into them. STAT’S Damian Garde has the story here.

FDA urges recall of medication tied to lung and liver injuries

The FDA is investigating a growing number of reported problems involving Limbrel, a drug that’s commonly used to control osteoarthritis. Health officials have received 194 reports of adverse events involving the drug, 30 of which were found to be likely associated with the product. The agency has relayed those concerns about potential serious health risks to the drug’s manufacturer, Primus Pharmaceuticals. And while the FDA has urged the company to carry out a voluntary recall, Primus hasn’t done so.

The alarming practice of jailing patients who can’t pay medical bills

A concerning new report finds that it’s still common for hospitals to forcibly detain patients who can’t pay for their care across much of sub-Saharan Africa and other parts of the world. It’s difficult to pinpoint how often it happens, but the new report from the think tank Chatham House estimates that there could be hundreds of thousands of people detained worldwide each year. Many of those detentions come after emergency care that’s provided to people such as accident victims and pregnant women who are experiencing complications in birth. Those detentions can last for months and can discourage patients from seeking other kinds of medical care.

The authors say the practice is a clear violation of international human rights standards and are calling on governments to both clearly ban the practice and come up with financial solutions to help hospitals cover their costs when patients can’t pay.

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