Friday, December 21, 2012
The Framingham pharmacy linked to the national meningitis outbreak filed for Chapter 11 today, Dec. 21 in U.S. Bankruptcy Court in Massachusetts.
New England Compounding Center, the Framingham speciality pharamcy linked to the deadly, national meningitis outbreak, said today it has filed for protection under Chapter 11 of the U.S. Bankruptcy Code. The filing seeks to establish a fund to compensate individuals and families affected by a nationwide meningitis outbreak. In papers filed with the U.S. Bankruptcy Court of Massachusetts, the Waverly Street company said its goal is to provide a greater, quicker, fairer payout to its creditors than they could achieve through piecemeal litigation. The company also announced the appointment of Keith D. Lowey as and independent director of NECC and as the company's chief restrucsturing officer. Lowey will be responsible for NECC's effort to …
Tuesday, November 20, 2012
U.S. District Judge Dennis Saylor has ordered an expedited hearing to determine whether to freeze at least $461 million in assets belonging to New England Compounding Center, its owners and two related companies, according to court records.
A federal judge in Boston is expected to hear arguments Nov. 20, on whether to freeze nearly $500 million in assets, including luxury homes, related to New England Compounding Center, the Framingham-based specialty pharmacy linked to a deadly U.S. meningitis outbreak, reported Reuters. Wrentham resident Barry Cadden is a co-founder of New England Compound Center. U.S. District Judge Dennis Saylor has ordered an expedited hearing to determine whether to freeze at least $461 million in assets belonging to New England Compounding Center, its owners and two related companies, according to court records. The fungal meningitis outbreak, linked to New England Compounding Center on Waverly Street in Framinghan, has killed 34 patients and infected …
Wednesday, November 14, 2012
Appearing in front of the House Energy and Commerce Committee, the co-owner of NECC refused to answer question on the meningitis outbreak connected with his company.
Wrentham resident and co-founder of the New England Compound Center (NECC) Barry Cadden refused to speak during a congressional hearing today on the meningitis outbreak linked to his company. Being asked multiple questions by the House Energy and Commerce Committee, the NECC co-owner simply said said, "Under advice of counsel, I respectfully decline to answer under basis of my constitutional rights and privileges, including the Fifth Amendment." Cadden said he would invoke his Fifth Amendment right to not answer questions to avoid self-incrimination. The House Energy and Commerce Committee convened the first hearing to examine the outbreak that has sickened about 440 people and caused 32 deaths across the country. Since being closed last …
Tuesday, October 23, 2012
Gov. Deval Patrick announced on Tuesday the permanent revocation of the compounding pharmacy's license.
UPDATED, 4:05 p.m.: Gov. Deval Patrick announced at a press conference this afternoon that the Board of Pharmacy has voted permanently to revoke the license of New England Compounding Center, the compounding pharmacy at the center of a nationwide meningitis outbreak and is co-owned by Wrentham resident Barry Cadden. A health official also released some preliminary findings of an investigation into NECC. "(NECC) will never practice again in Massachusetts," Patrick said at the press conference, which was streamed live on MyFoxBoston. The DPH and the FDA, both of which oversee pharmaceutical companies (the company falls outside the purview of local oversight) continue to investigate NECC, which is linked to 23 deaths and hundreds of outbreaks…
Friday, October 12, 2012
House committee tells Wrentham resident and co-owner of the Framingham specialty pharmacy to preserve all documents and communications and to met with them no later than Oct. 18.
Friday, October 12, 2012
A U.S. House of Representatives committee wants to hear from the Framingham specialty pharmacy linked to a dedly national outbreakof meningitis, according to a report by Reuters. Bipartisan lawmakers on the Republican-led House Energy and Commerce Committee called on the New England Compounding Center co-owner Barry Cadden to provide a documented picture of his company's operations at a meeting with panel staff to be held no later than Oct. 18, reported Reuters. Steroids produced by NECC have killed 14 and infected 169 individuals across 11 states. The steroids, according to the Framingham company, were distributed in 23 states. Massachusetts was not one of them. "We ask you to preserve all documents and communications that may be relevant…
Thursday, October 11, 2012
New England Compounding Center, Inc co-owner and Wrentham resident Barry Cadden recently gave money to the Scott Brown for Senate campaign which was later given to charity.
The meningitis outbreak stemming from an infected batch of vials of a steroid prepared at a factory of the Framingham-based New England Compounding Center, Inc (NECC) has ties to Wrentham. Barry Cadden, the co-owner of the company, is a Wrentham resident and recently donated to Senator Scott Brown (R-Wrentham) campaign. Brown has since given the money to charity. This month, it was discovered that steroids for back pain produced by NECC had contain fungal meningitis. According to the Wall Street Journal, an estimated 13,000 patients may have been exposed to the form of meningitis though the injection. As of Oct. 11, there were 170 reported cases of rare fungal meningitis nationwide along with 14 deaths with more cases expected. Cadden …