Immune Pharmaceuticals raises $11.7m on Nasdaq
After a 158-day struggle, the Finance Ministry agreed to greatly improve the agreement to a 46-49% pay rise over ten years.
After a 158-day struggle and 46 hours of talks, the Israel Medical Association and the Ministry of Finance this morning reached an agreement in principle. The Medical Association secretariat subsequently approved the deal. Medical Association chairman Dr. Leonid Eidelman was under intense pressure from doctors who opposed the deal but the Medical Association secretariat accepted the settlement.
Sources inform ''Globes'' that the Ministry of Finance agreed to greatly improve the cost of the agreement to 46-49% over ten years from 39-43% over nine years, which the doctors previously rejected.
The increase is not in the form of a direct pay hike, but the general cost pay hikes and incentives on top of the doctors' current salary. Most of the addition will be awarded to doctors in the periphery, specialists in fields with shortages, and doctors who work extra duty shifts. These measures are expected to strengthen government hospitals.
The parties agreed that doctors with up to five years seniority as specialists will, for the first time, be required to carry out two duty shifts per month. Currently, only specialists in emergency rooms and gynecology are required to do this. However, in contrast to previous agreements, the specialists' duty shifts will end at 11 pm, rather than continue throughout the night. The doctors strongly pushed for this change.
Published by Globes [online], Israel business news - www.globes-online.com - on August 24, 2011
© Copyright of Globes Publisher Itonut (1983) Ltd. 2011
You comment was recieved and soon will be published.
Load more comments
The money raised will fund a Phase II trial of ulcerative colitis drug bertilmumab.
XTL Biopharma files to raise $40m on Nasdaq
XTL plans to initiate a large Phase IIb clinical trial for the treatment of Lupus.
Teva launches generic cancer drug
Brand Xeloda, made by Genentech, had $754 million in US sales in 2013.
Yelin Lapidot takes stake in Brainsway
Brainsway raised NIS 41 million in the private placement.
Barclays upgrades Teva
Barclays raised its recommendation to "Overweight" and its target price to $65.
BiolineRX raises $24m in Nasdaq offering
Three months ago, the company announced promising preliminary clinical trial results.
Teva VP Ika Abravanel resigns
Abravanel's is the first senior departure from Teva since Erez Vigodman became CEO.
FDA approves Pluristem cell production facility
Pluristem's Haifa plant can produce 150,000 doses of PLX cells annually.
Desheh: Splitting Teva will not create value
Teva CFO Eyal Desheh says Teva's tight integration means that a split makes no sense.
InsuLine expanding in Europe
24Care will distribute the company's InsuPad product in the Netherlands and Belgium.
Teva launches generic breast cancer, osteoporosis drug
Teva has 180 days of marketing exclusivity for generic Evista, which had 2013 US sales of $824 million.
BiolineRX raising $21m in Nasdaq secondary offering
The company will use the proceeds to develop leukemia and celiac disease drugs.
MediWound sets terms for $92m Nasdaq IPO
The burns and wounds treatment developer's offering is at a value of $350-370 million.
Opko losses triple
CEO Phillip Frost: From an R&D perspective, all our programs are progressing.
D-Pharm doubles on good interim stroke study results
The Phase IIa trial interim results found the company's drug was safe for cerebral strokes.
Perrigo selling OTC drugs through Amazon
Perrigo: It is also a platform for obtaining good information about consumer behavior.
Teva launches bipolar, schizophrenia treatment
Adasuve is the first orally inhaled medicine for the acute treatment of agitation in schizophrenia and bipolar I disorder.
Perrigo acquires Aspen Global products for $51m
Perrigo bought value-brand OTC products sold in Australia and New Zealand.
Galmed updates $30m Nasdaq IPO prospectus
The liver disease drug developer will issue shares at a company value of $132 million.
Enzymotec shareholders raise $131m in offer to sell
Kibbutz Ma'anit's Galam reportedly sold shares for $46 million.
Compugen raises $63m, Magic $51m
The two companies held secondary offerings on Nasdaq on the basis of shelf prospectuses.
If Rose Fostanes played basketball
Reforms in regulations for foreign caregivers are welcome, but don't go far enough.
Private treatment kills public healthcare
If the German Committee validates private healthcare, it will be the last nail in public healthcare's coffin, argues Prof Dani Filc.
Reducing the number of polyps that colonoscopies miss
EndoChoice's Israel development center has devised an endoscope with a 330-degree arc.
Neopharm moves into orphan drugs
The company, better known for marketing others' products, has been quietly building up its innovative capacity, as VP Tal Fuhrer relates..
Merck Serono Israel incubator nurtures early stage projects
Merck Germany head of pharmaceuticals Dr. Stefan Oschmann says R&D is enjoying a renaissance at big pharma companies.
Israeli biomed cos bring in US CEOs
"Globes" speaks to 3 US CEOs appointed to boost marketing at TASE traded medical device companies.
Alcobra has had two successful Nasdaq offerings this year as it develops an ADHD treatment with fewer side effects.
Restructuring can help Teva's Copaxone woes
Avishai Ovadia argues that Teva can offset falling Copaxone sales by reducing overall company costs.
Enabling diabetes patients to sleep soundly
Excess insulin levels can be fatal when they occur at night. NightSense aims to remove the fear.