Friday, April 1, 2016

"Theranos on the Ropes as Scathing Regulatory Report Is Made Public"

From Fortune:

Walgreens is “assessing” the situation, say sources close to the company.
Another punishing article in the Wall Street JournalThursday evening, revealing the depths of the problems that led federal regulators to cite a Theranos lab for multiple “serious deficiencies” in January, raises the question of how many more setbacks the young blood analytics company can survive.

According to the article, regulators at the Centers for Medicare and Medicaid Services have so far found the company’s plan to fix deficiencies found at its Newark, Calif. lab last January “inadequate” and they plan to impose sanctions against Theranos that could range from fines to suspension of their right to test human samples. 
The Journal story, by John Carreyrou and Christopher Weaver, comes just three days after researchers at the Icahn School of Medicine at Mt. Sinai published a peer-reviewed study comparing Theranos’s results to those of Quest Diagnostics and LabCorp and finding that, among other worrying issues, Theranos produced 1.6 times as many “abnormal results” as the other labs....MORE