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1. Goldman Sachs: The European Central Bank (ECB) is expected to raise interest rates by 25 basis points, with the baseline forecast remaining that the current tightening cycle will end after a rate hike in September. However, if energy prices remain high, inflation strengthens significantly, and the Federal Reserve raises rates in the coming months, the risk of a further rate hike in December will continue to rise. 2. ING: The ECB is expected to raise interest rates by 25 basis points, but it will be a dovish hike, or at least the signals released after the rate hike will not be sufficient to support the markets current expectations of further tightening. 3. Scotiabank: The ECB is expected to raise interest rates by 25 basis points while maintaining a relatively hawkish policy tone to curb energy-driven inflation risks and ease price pressures. 4. Reuters poll: The ECB is expected to raise interest rates by 25 basis points, after which it will stop raising rates, and the deposit rate will remain at 2.50% until the end of 2026. 5. Danske Bank: The ECB is expected to raise interest rates by 25 basis points. Lagarde will maintain ample flexibility, leaving room for further tightening, but will not pre-commit to a continued path of rate hikes, and is not expected to explicitly express any intention to suppress tightening expectations. 6. Deutsche Bank: The ECB is expected to raise interest rates by 25 basis points, with another rate hike in December. Continued energy risks are putting pressure on the inflation outlook. 2.75% is considered a more likely terminal level, and a faster easing of geopolitical tensions and weaker growth could keep the upper limit of interest rates at 2.5%. 7. Natixis: The ECB is expected to raise interest rates by 25 basis points. Lagarde is expected to take a relatively neutral stance, thus avoiding market expectations of a prolonged rate hike cycle. After this rate hike, the bank is expected to pause rate hikes until the end of 2027. 8. Rabobank: The ECB is expected to raise interest rates, and its statements on the future policy path are expected to be more restrained than currently priced into by the market. Lagarde may keep all policy options open, avoiding strong pre-commitments. 9. Nordea Bank: The ECB is expected to raise interest rates, and this meeting will be the last rate hike of this cycle, although uncertainty remains. Inflation is not expected to remain above the target level for an extended period, which will be a key reason for the central bank to keep interest rates unchanged for some time. 10. BNP Paribas: The ECB is expected to raise interest rates once in September and once in December. The September meeting may see upward revisions to economic growth and inflation forecasts, further supporting the case for tightening monetary policy. 11. MUFG: The market has fully priced in the ECBs 25 basis point rate hike expectation. Market reaction may depend more on the central banks latest forward guidance than on the rate hike decision itself. If Lagarde does not explicitly support another rate hike before the end of the year, the euro may weaken moderately. 12. State Street Global Advisors: The ECB may combine the expected rate hike with signals of a willingness to remain open. The focus is not on the September decision itself, but on whether the 2.50% interest rate is considered sufficiently restrictive, and whether the central bank reserves policy space for December.Germanys final harmonized CPI monthly rate for August was 0.2%, in line with expectations and down from 0.20% previously.Germanys final August CPI annual rate was 2.9%, in line with expectations and down from 2.90% previously.Germanys final August CPI month-on-month rate was 0.2%, in line with expectations and down from 0.20% previously.Germanys final harmonized CPI annual rate for August was 2.9%, in line with expectations and down from 2.90% previously.

Biogen finalizes $900 million drug kickback settlement

Norah Atkinson

Sep 27, 2022 14:30

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The U.S. Department of Justice announced on Monday that Biogen Inc. has struck a $900 million deal to resolve a whistleblower case that accused the biotech company of paying kickbacks to doctors who prescribed multiple sclerosis drugs.


The settlement closes a lengthy whistleblower action filed in Boston federal court by a former government employee. Biogen (NASDAQ:BIIB) disclosed in July that a potential settlement had been reached, pending government clearance.


According to his attorney, Thomas Greene, former employee Michael Bawduniak will receive $266,4 million for pursuing the action. Greene noted that this sum surpasses all previous records for whistleblower payouts in the United States.


Cambridge is located in Massachusetts As part of the agreement, Biogen did not acknowledge guilt. Biogen indicated in a statement that the corporation "believes that its goals and conduct have always been legitimate and appropriate."


From 2009 to 2014, Biogen was suspected of paying doctors millions of dollars in kickbacks to prescribe Avonex, Tysabri, and Tecfidera for multiple sclerosis. According to the lawsuit, the payments included "false" consulting deals and speaker programs, as well as lavish dinners and entertainment.


Allegedly, the scam resulted in the filing of false claims for payment to the federal healthcare programs Medicare and Medicaid.


Bawduniak filed the lawsuit in 2012 under the False Claims Act, which empowers whistleblowers to sue companies on behalf of the government to recover fraudulently obtained taxpayer monies.


The Justice Department may intervene in such situations and alleviate them itself following an investigation; however, it declined to do so in Bawduniak's case in 2015, allowing him to pursue the matter on his own.


His attorney, Greene, has described the settlement as the greatest recovery in over 150 years of False Claims Act cases won by a whistleblower without government intervention.