Novartis And Viatris Sued Over Unlawful Use Of HeLa Cells Used For Cancer Treatment Drugs
Portfolio Pulse from Vandana Singh
The family of Henrietta Lacks has filed a federal lawsuit against Novartis AG and Viatris Inc, alleging unlawful use of HeLa cells for drug development without compensation. The lawsuit follows similar actions against other companies, highlighting historical exploitation in medical research.
August 06, 2024 | 5:48 pm
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Novartis AG is being sued by the Lacks family for allegedly using HeLa cells without permission in the development of several drugs, including Famvir, Kymriah, and Zolgensma.
The lawsuit could lead to financial penalties and reputational damage for Novartis, potentially impacting its stock price negatively in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ultragenyx Pharmaceutical is currently facing ongoing litigation from the Lacks family over the use of HeLa cells.
Ongoing litigation could result in financial and reputational risks for Ultragenyx, potentially impacting its stock price negatively in the short term.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Viatris Inc is being sued by the Lacks family for allegedly using HeLa cells without permission to test its drugs, including Denavir and Mylan-Mirtazapine.
The lawsuit could result in financial liabilities and harm Viatris' reputation, likely leading to a short-term negative impact on its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Thermo Fisher Scientific previously faced a similar lawsuit from the Lacks family, which has since been settled.
Since the lawsuit has already been settled, there is no immediate impact on Thermo Fisher Scientific's stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50