States bring new price-fixing suit against generic-drug makers

first_img GET STARTED Unlock this article by subscribing to STAT+ and enjoy your first 30 days free! GET STARTED Pharma Steve LeBlanc and Martin Crutsinger — Associated Press About the Author Reprints What is it? BOSTON — Attorneys general from more than 40 states are alleging the nation’s largest generic drug manufacturers conspired to artificially inflate and manipulate prices for more than 100 different generic drugs, including treatments for diabetes, cancer, arthritis and other medical conditions.The lawsuit, filed in federal court in Connecticut on Friday, also names 15 individual senior executives responsible for sales, marketing and pricing. STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis. Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond. Log In | Learn More What’s included? By Steve LeBlanc and Martin Crutsinger — Associated Press May 12, 2019 Reprints States bring new price-fixing suit against generic-drug makers Daily reporting and analysis The most comprehensive industry coverage from a powerhouse team of reporters Subscriber-only newsletters Daily newsletters to brief you on the most important industry news of the day STAT+ Conversations Weekly opportunities to engage with our reporters and leading industry experts in live video conversations Exclusive industry events Premium access to subscriber-only networking events around the country The best reporters in the industry The most trusted and well-connected newsroom in the health care industry And much more Exclusive interviews with industry leaders, profiles, and premium tools, like our CRISPR Trackr. APStock Tags drug pricinglegallast_img read more

Fort Myers credit card thief buys $1500 worth of Yeti Coolers

first_imgOates was reimbursed by his credit card company but the suspect is still on the run. He believes this ordeal is far from over. “I heard now it can go on the dark web he’s got the number. They can use it to open another account in our name so it’s really not over for me yet. This could continue for years,” Oates said. Paul Oster is the President of the company, “Better Qualified.” He suggests only carrying one credit card on you at a time and always check your purchases to ensure your information isn’t anywhere it shouldn’t be. “It’s not as easy as you would think to have those negative accounts removed once they’ve been reported to the credit bureaus,” said Oster. “There’s no such thing as identity theft protection. Early detection is the key.” If you know anything about the incident or recognize the suspect in the picture call the Lee County Sheriff’s Office  RELATEDTOPICS AdvertisementDC Young Fly knocks out heckler (video) – Rolling OutRead more6 comments’Mortal Kombat’ Exceeded Expectations Says WarnerMedia ExecutiveRead more2 commentsDo You Remember Bob’s Big Boy?Read more1 commentsKISS Front Man Paul Stanley Reveals This Is The End Of KISS As A Touring Band, For RealRead more1 comments FMPD surrounds home after shooting June 12, 2021 Advertisement“I hope they let him take his Yeti coolers to the penitentiary,” said Oates. Oates said he immediately canceled his card. The suspect’s shopping spree wasn’t over, Oates says the man then went to a Target in Naples and spent another $800.“It is a felony so the guy is gonna go to prison if they do catch him,” said Oates.  Man killed during shooting at Central Avenue June 12, 2021 AdvertisementRecommended ArticlesBrie Larson Reportedly Replacing Robert Downey Jr. As The Face Of The MCURead more81 commentsGal Gadot Reportedly Being Recast As Wonder Woman For The FlashRead more29 comments Advertisement WATCH: Fort Myers lotto looter on the run with stacks of scratchers June 16, 2021 Advertisement FORT MYERS, Fla. – A Fort Myers man is holding out hope the man accused of stealing his personal information is caught before the suspect does anything else with his identity. Dennis Oates says he was making a gas station run at the 7-Eleven gas station on College Parkway on April 5th when he realized he accidentally left his card in the chip reader once he got home. “I don’t know if they made a distraction or what but somehow the card got left in the reader,” Oates said. “Right away I get a text message it had been used at the Ace Hardware in Bonita for $1,500 bucks.” In a picture obtained by Sunshine Ace Hardware’s security cameras in Bonita Springs, the suspect is seen with a cart full of Yeti Coolers, which is considered a high-end cooler brand by many.  AdvertisementTags: Credit card theftFort Myers Thief scoops up tip jar at Fort Myers ice cream shop June 16, 2021last_img read more

IIROC hearing panel fines former advisor $250,000 for various infractions

first_img Mouth mechanic turned market manipulator PwC alleges deleted emails, unusual transactions in Bridging Finance case BFI investors plead for firm’s sale An Investment Industry Regulatory Organization of Canada (IIROC) hearing panel has prohibited Yu Qiong (Kevin) Li, a former advisor, from being a registered member of the self-regulatory organization (SRO) and fined him $250,000 for infractions that include unauthorized investment purchases and discretionary trading within client accounts. Li was also found to have been unco-operative in the course of IIROC’s investigation into the situation and ordered to pay costs of $15,000. Li was employed with TD Waterhouse Canada Inc. in Richmond, B.C., when the violations took place. Li, who is fluent in Chinese and Mandarin, was one of several advisors TD Waterhouse employed within that community to provide services to clients who spoke those languages. The former advisor had clients who were based in British Columbia and in China. Li’s first infraction is connected to actions taken on the account of a client in B.C. referred to as “YX.” Li engaged in 11 trades in YX’s account that were unauthorized and contradicted the client’s express instructions that YX be notified in advance of details concerning trades. After a trade that incurred a loss in October 2011, YX complained to Li’s branch manager and Li was terminated following an internal investigation by the firm. The second contravention involved 181 unauthorized discretionary trades that the former advisor made in a two-hour period in October 2011. Many of these trades were conducted through the accounts of clients who lived in China. “The [IIROC hearing] panel accepted evidence that the trades took place at a rapid pace, every minute or so (with the exception of two breaks), within a period of approximately two hours,” the IIROC hearing panel’s decision states. “In the circumstances, there was no credible evidence that the respondent complied with his obligation to obtain instructions. … Indeed, it was not physically possible for him to do so.” Li also misrepresented the orders made within that time period as the trade tickets used for the transactions were marked as “unsolicited,” which would indicate that the clients initiated the actions, although that was not the case. Li’s final infraction involves his multiple attempts to avoid co-operating with IIROC in the course of its investigation into his conduct, which began in in November 2012. These attempts included evading contact by telephone, email and mail and personal service as well as leaving the country and refusing to provide contact information for his new residence in Beijing. The SRO became aware in 2015 that Li had applied to the B.C. Securities Commission to re-activate his registration. When IIROC staff then contacted the former advisor to advise him that a hearing was still to be held, Li terminated the phone call and further efforts to get in touch were unsuccessful. “It is prejudicial to the public interest and brings the investment industry into disrepute where registered representatives strenuously avoid and successfully frustrate such investigations while leaving open the possibility that they may try to return to the industry some years later only to resume the complained-of conduct,” the IIROC hearing panel decision states. Li’s actions had an adverse effect on clients and their belief in the integrity of registrants; IIROC’s ability to conduct investigations; and a hit to TD Waterhouse’s reputation, the IIROC hearing panel notes. “The harm to the respondent’s employer, the dealer member, included the economic damage to it of having to compensate clients for his misconduct,” the decision states, “and the harm to its reputation and the integrity of its compliance systems, particularly in the Chinese-speaking community that it sought to [serve] by offering registered representatives such as the respondent who purported to meet their particular needs.” Photo copyright: aruba2000/123RF Share this article and your comments with peers on social media Keywords EnforcementCompanies Investment Industry Regulatory Organization of Canada Tessie Sanci MFDA bans former rep for recommending unsuitable strategy Related news Facebook LinkedIn Twitterlast_img read more

Interim Administrator Minute – Performance Improvement Order

first_imgInterim Administrator Minute – Performance Improvement Order On 20 November the Minister for Local Government gave Council notice of her intention to issue a Performance Improvement Order on Armidale Regional Council and gave Council 7 days to make submissions.I reported the matter to Council on 25 November welcoming the Minister’s intentions and outlining my reasons which were conveyed to the Minister within the time specified.Noting the Council’s submission the Minister has today served a Performance Improvement Order on Council which I now table and will ensure is placed on the Council’s website without delay.The Performance Order requires the appointment of a special adviser and financial controller who will be in place until the September elections and is named as Mr John Rayner.The Minister also forwarded a letter to Mr Rayner and myself noting that in deciding to issue an order she has given particular regard to the need to ensure that the improvements made under Administration continue when the elected body returns from the suspension period ie. on Saturday.Accordingly I move:The contents of the Performance Improvement Order given by the Minister for Local Government and to take affect from 9 December 2020 be noted.(Viv May PSM)Interim Administrator /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Armidale, Armidale Regional Council, council, elected, election, Government, local council, Local Government, Minister, websitelast_img read more

CU Boulder’s first Schwarzman Scholar announced

first_img Published: Dec. 3, 2019 Recent graduate Zeena Nisar is a member of the 2020–21 class of Schwarzman Scholars and the first CU Boulder alumna to win the prestigious scholarship, which prepares graduate students for global leadership roles.Nisar, a Norlin Scholar from Colorado Springs, is teaching English at the International University of Central Asia in Kyrgyzstan on a Fulbright grant. In May, she graduated with bachelor’s degrees in English and molecular, cellular and developmental biology.Through her research, she has sought connections between her majors and the space industry, and as a Fulbright Scholar is collaborating with the Satellite Girls Initiative, a group of women working to launch Kyrgyzstan’s first satellite. By the numbersRecent CU Boulder scholarship recipients by the numbers:2 Rhodes Scholars, Jake Reagan (2020) and Serene Singh (2019)1 Schwarzman Scholar, Zeena Nisar (2020)1 Marshall Scholar, Emma Oosterhous (2018)1 Gates-Cambridge Scholar, Christian Philippi (2019)1 Knight-Hennessy Scholar, Izzy Aguiar (2018)2 Truman Scholars, Jake Reagan (2019) and Serene Singh (2018)2 Astronaut Scholars, Ellen Considine (2019) and Emma Simmerman (2018)2 Boren Fellows, Marielle Butters and Naomi Chang (2018)14 U.S. Fulbright student grantees2 Goldwater Scholars, Ellen Considine and Yannick Lee-Yow (2019)She said the satellite would contribute to the country’s development, further women’s rights, and place Kyrgyzstan in the international space sector.“The space industry, like so many other STEM industries, remains homogenous,” Nisar wrote in a leadership essay in her Schwarzman application. “Despite the research on the myriad benefits of diverse teams, the gendered lag persists. This was my chance to finally carve change into the space industry for future women.”Nisar said she was ecstatic to receive the scholarship and to represent CU Boulder, and will use the opportunity to develop leadership skills to one day leverage space technology for the United Nations’ Sustainable Development Goals. She also plans to use her position as a space researcher to lead innovation and international collaboration for the peaceful uses of space.Deborah Viles, director of CU Boulder’s Office of Top Scholarships, has worked with Nisar on several scholarship applications and said, “I admire her thoughtful and purposeful pursuit of humanitarian aims, and I’m so proud to have her represent CU.”At CU Boulder, Nisar conducted bioastronautics research with the BioServe Space Technologies group under Luis Zea, an aerospace engineering assistant research professor, an experience that transformed her academic and professional trajectory.Her NASA-funded biofilm research led to the publication, “Design of a Spaceflight Biofilm Experiment,” which she presented at the 2017 American Society for Gravitational and Space Research Conference and the 2018 International Astronautical Congress in Germany. She was also a youth delegate at the Asia-Pacific U.N. Space Generation Workshop in Singapore, where she worked with a group dedicated to increasing gender diversity in the space sector.Nisar said bioastronautics research work has allowed her to be a part of a highly transnational and transdisciplinary field dedicated to advancing humanity both in space and on Earth. In this field, she said she began to see a future in which she could foster the pursuit of outer space in tandem with sustainable development on Earth.The Norlin Scholarship community, she said, helped her forge a unique and interdisciplinary path for her future. Her degree in both the hard sciences and in literature taught her to bridge the gap between science and communication, and she is grateful that CU Boulder gave her the opportunities and flexibility to explore so many of her interests.Her work with organizations such as Ashinaga and the Clinton Global Initiative University are among her contributions to the nonprofit world. With Ashinaga, Zeena contributed STEM educational materials for orphaned and /vulnerable students to equip them for the rigors of American college-level courses. Through the Clinton Global Initiative University, Zeena was a “commitment maker” to a local nonprofit in order to quantify and measure impact.The Office of Top Scholarships supports students applying for the Schwarzman and other top awards. Contact [email protected] for more information.Categories:Deadlines & AnnouncementsCelebrateCampus Community Share Share via TwitterShare via FacebookShare via LinkedInShare via E-maillast_img read more

Land Divestment Committee to be enshrined in Law

first_imgFacebookTwitterWhatsAppEmail Minister of Water, Land, Environment and Climate Change, Hon. Robert Pickersgill, said that the Land Divestment Advisory Committee (LDAC) is to be enshrined in statute. “I will shortly take the Bill to amend the Crown Property Vesting Act to the legislative committee of Cabinet and hope to have it tabled in the House as early thereafter as possible,” he said, during his contribution to the 2012/13 Sectoral Debate in the House of Representatives recently. He said the amendments will also outline the composition of the LDAC, its appointment and other related matters. “With changing times, the land divestment process has also come under the microscope as we strive to ensure transparency and fairness in the allocation of such lands and promote prudent and sustainable land utilisation that will lead to social and economic development,” he said.   During fiscal year 2011/2012, the LDAC processed 31 applications (including re-submissions) for divestment. A total of 25 applications, were recommended for divestment.  Ministerial approval was obtained for 22 applications valued at approximately $112 million for sale or lease of government owned properties. The remainder of the applications was deferred for further information/clarification as required by the LDAC, Minister Pickersgill informed. Land Divestment Committee to be enshrined in Law EnvironmentJuly 27, 2012 RelatedLand Divestment Committee to be enshrined in Law RelatedLand Divestment Committee to be enshrined in Law Advertisements By Chris Patterson, JIS Reporter RelatedLand Divestment Committee to be enshrined in Lawlast_img read more

Term Limits head to November Ballot

first_imgHomeNewsTerm Limits head to November Ballot Jul. 06, 2018 at 5:01 amNewsTerm Limits head to November BallotKate Cagle3 years agocity councildaily pressNewsSanta Monicasanta monica daily presssanta monica newsTerm LimitsvotingFile photo Voters will decide whether to place term limits on Santa Monica’s elected officials this November after the County Clerk officially certified a citizen initiative Thursday. The measure would limit City Council members to three terms, or twelve years, going forward.Councilmember Sue Himmelrich, who is running for her second term this year, and Mary Marlow, chair of the Santa Monica Transparency Project, a government-watchdog organization, sponsored the measure.“Term limits will allow fresh perspectives and new ideas in our City government,” Marlow said. “We have a situation now where incumbents almost automatically get re-elected for decades. They are frequently backed by wealthy special interests with business before the Council who pour hundreds of thousands of dollars into each election cycle.”Marlow says only two incumbents have lost reelection over the last 25 years. Two current members, Councilmembers Kevin McKeown and Pam O’Connor, have served more than twenty years on the dais. If passed, the new limits would only apply to terms going forward.Supporters gathered more than 19,000 signatures to get the initiative on the ballot.No formal opposition campaign has been formed at this time. However, several councilmembers have criticized the measure, arguing it will decrease the amount of civic experience.“I just hope voters understand that term limits mean giving up your power as a resident to vote for the person you believe best represents you,” McKeown said. “Voters already have the power to remove incumbents in favor of a better challenger.  That’s called ‘elections.’  Term limits don’t give residents any new power.  In truth, they limit your choices in the voting booth.”Future City Councils may be limited in other ways besides terms after the November election. Last week, a Himmelrich and McKeown-backed initiative cleared the City Council with a 4-2 vote. The measure will require a supermajority vote to amend the city’s land use plans to increase building height or density.The measure does not apply to individual projects like the Gehry-designed development at Ocean Avenue and Santa Monica Boulevard or the redesign of the Fairmont Miramar Hotel. Rather, it restricts the Council’s ability to amend the Land Use and Circulation Element and Downtown Community Plan, which lay out the rules for development throughout the city.Himmelrich and McKeown are both running for reelection this year. O’Connor’s term expires in November but she has not formally announced she is running.A lawsuit that could require the city to end its at-large election system in favor of district-based elections is heading to trial July 30. It is unknown at this time how that lawsuit could impact the November race for City Council.   The California Voting Rights Act bars the use of at-large elections if racially polarized voting occurs, hurting the ability of minorities to elect preferred [email protected] :city councildaily pressNewsSanta Monicasanta monica daily presssanta monica newsTerm Limitsvotingshare on Facebookshare on Twitteradd a commentKate CagleSenior ReporterSenior reporter for the Santa Monica Daily Pressview all postsBorder arrests fall by 18 percent in June; many are familiesBroken cameras no longer watch crowds on The PierYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall9 hours agoNewsCouncil picks new City ManagerBrennon Dixson20 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter20 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor20 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press20 hours agoNewsWedding boom is on in the US as vendors scramble to keep upAssociated Press20 hours agolast_img read more

Water rate increased planned for this year

first_img[email protected] on Facebookshare on Twitteradd a commentPersimmon is the featured fruit for Restaurant WeekWeekend rain predicted for Los AngelesYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall9 hours agoNewsCouncil picks new City ManagerBrennon Dixson19 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter19 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor19 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press19 hours agoNewsWedding boom is on in the US as vendors scramble to keep upAssociated Press19 hours ago HomeFeaturedWater rate increased planned for this year Jan. 05, 2019 at 10:22 amFeaturedNewsWater rate increased planned for this yearMadeleine Pauker2 years agoNo tags Water rates will go up nine percent in 2019 as the City of Santa Monica embarks on several projects to wean itself off of imported water.City Council is expected to approve the rate hike at its Tuesday meeting. The average single-family home customer will pay about $4.33 more per month for water to fund the design of a larger, more efficient water treatment plant, the purchase of a new well and the cost of replacing the city’s aging water mains, said chief sustainability officer Dean Kubani. The rate increase will go into effect retroactively on Jan. 1.The City set a goal of achieving water self-sufficiency in 2011 and originally aimed to get there by 2020. Staff said that would take an additional three years in December 2018. Using local water will be cheaper and ensure residents can receive water even during regional droughts. In addition, producing and transporting local water will use far less greenhouse gases than importing it.Since 2015, the City has projected water rates to rise nine percent each year to fund water self-sufficiency projects, but rates only rose five percent in 2016, 2017 and 2018 because the City received more revenue from water sales than expected and had to delay some projects because it didn’t have enough engineers and water staff, Kubani said.Water rates rose by 33 percent between 2015 and 2019, although City staff said Santa Monicans are still paying less for water than their neighbors in Los Angeles, Culver City or Beverly Hills. The average Los Angeles family pays $176 per month for water, while a family in Santa Monica will pay $105 in 2019.Kubani said the incremental rate increases will make water less expensive in the long-term because the money will fund projects that will allow Santa Monica to stop importing water from the Metropolitan Water District of Southern California (MWD), which sources most of its water from the Colorado River. “We’re expecting MWD prices to increase sharply over the next 10 years,” he said. “We’re seeing major, long-term droughts in the Southwest impacting the Colorado River, so we really can’t rely on imported water anymore.”This year’s rate increase will go toward the initial costs of redesigning the Arcadia Water Treatment Plant to be larger and more efficient. The plant currently produces 82 gallons of treated water for every 100 gallons of raw water, and the City is looking to raise that number to 90 gallons.“That’s a significant amount of new water and one of the most cost-effective things we can do to increase our local water supply,” Kubani said.The money will also partially fund a new well, which in addition to producing more water will provide the City will a backup in case another well breaks down and avoid having to start importing water again.Finally, the funds will partially offset the cost of replacing the city’s water mains. The City is aiming to have a completely new set of water mains every 100 years, which requires the replacement of two miles of mains each year. That cost about $4 million per year until last year, when construction costs increased dramatically, Kubani said. To stay on schedule, the City will have to spend $6 million per year.“The City of Los Angeles has had some huge water main breaks recently because a lot of their mains are 200 years old or older,” he said. “We want to make sure our equipment is replaced regularly.”last_img read more

Hutchison highlights continued improvement from 3 Group

first_img Verizon sees positives in service revenue despite drop Home Hutchison highlights continued improvement from 3 Group 3 GroupFinancialHutchison Whampoa CK Hutchison tower split on track, 3 Group revenue up Previous ArticleTelefonica reiterates digital commitmentNext ArticleKT opts out of race for Tunisian stake 3 Group achieved “another important milestone” in 2013, according to parent Hutchison Whampoa, reporting positive EBITDA less capex for the period.The “encouraging performance” is said to reflect the European operator’s strong market position in the smartphone and mobile data segments, the increased contribution from 3 Austria following the acquisition of Orange Austria in January 2013, and a “well-disciplined operating and capital expenditure profile”.In Europe, 3’s registered customer base increased 13 per cent during the year to pass 26.6 million customers, of which more than 83 per cent are active.3 Group saw EBIT of HKD4.86 billion ($626.3 million), up from HKD3.15 billion, on revenue of HKD61.98 billion, compared with HKD58.71 billion for 2012.The company said that cumulative acquisition costs for 4G (LTE) services totalled around €1.1 billion.And looking forward, it anticipates further improvements in underlying performances, following the completion of the transition to a non-subsidised handset model in the customer base in 2013, and stabilisation of European mobile termination regimes.Away from 3 Group, Hutchison saw tough times for its Hong Kong business, which also houses its operations in Macau.EBIT at Hutchison Telecommunications Hong Kong was HKD1.37 billion, down from HKD1.74 billion, on revenue of HKD12.78 billion, down from HKD15.54 billion. The unit maintained its active mobile customer base at around 3.8 million.Hutchison noted changes including reduced mobile hardware and service revenue from lower demand for new handset models and the transition to a non-subsidised handset model, which was only completed in the first half of 2013.Going forward, the unit’s performance is expected to stabilise, with the handset subsidy transition complete, the removal of unlimited local data offerings, and the introduction of additional tier-pricing in late 2013.And for its Hutchison Asia Telecommunications unit, there was a loss (LBIT) of HKD409 million, compared with a prior-year loss of HKD846 million, on revenue of HKD6.3 billion, up from HKD4.45 billion.In 2014, HAT will “continue to focus on growing its business in Indonesia, where major network rollout activities were completed in the third quarter of 2013”.The unit has an active customer base of approximately 43.5 million with operations in Indonesia, Vietnam and Sri Lanka. AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 03 MAR 2014 Related Author Steve works across all of Mobile World Live’s channels and played a lead role in the launch and ongoing success of our apps and devices services. He has been a journalist…More Read more Steve Costello Tags 3 Group teams with Cisco Jasper on IoTlast_img read more

Orange, Partner agree terms to end licensing agreement

first_img Kavit joined Mobile World Live in May 2015 as Content Editor. He started his journalism career at the Press Association before joining Euromoney’s graduate scheme in April 2010. Read More >> Read more Home Orange, Partner agree terms to end licensing agreement Orange and Israel’s Partner Communications agreed terms that could see an end to their brand licensing agreement, following a well-publicised row in the country.Under the new framework, both parties have the right to terminate the existing brand licencing agreement, but Orange itself cannot exercise the clause for a year.“If Partner does not exercise its right to terminate within 12 months, either Partner or Orange may terminate the agreement during the following 12 months,” Orange said in a statement.Orange will also pay Partner €40 million while a market study is carried out “to assess Partner’s position within the dynamics of the Israeli telecommunications services marketplace”, and an additional €50 million could be paid if the brand agreement is terminated within 24 months.Stephane Richard, Orange’s CEO, caused uproar in Israel earlier this month after stating he would end the company’s licensing agreement with Partner “tomorrow morning” if contracts allowed.Israel’s government took offence to the comments, and Prime Minister Benjamin Netanyahu said Richard should visit the country to apologise.The spat reportedly links to the country’s economic activities in Israeli settlements in occupied Palestine territories, which France and the EU considers illegal.Richard has maintained that his comments were not political, and said in a press conference at the time that “Orange does not support any form of boycott, in Israel or anywhere else in the world”.Within the announcement, Orange added that it remains committed to Israel, even if the branding agreement is terminated, and said it will rebrand its research and development operations in the country under its own name. It would be “restricted from engaging in telecommunications services”.Under the present agreement, Partner pays Orange to use its brand in the country.“For Orange, Israel is a strategically important country and we have a long term commitment to it, including our innovation activities through the Orange affiliates in Israel,” said Pierre Louette, Orange’s deputy CEO. Previous ArticleAsia Briefs: Thai minister rejects return of 4G spectrum, Foreign climbers get free WiFi on Mount Fuji & moreNext ArticleEU agrees end date for roaming, backs net neutrality Author Las grandes operadoras europeas ponen condiciones a las RAN abiertas AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 30 JUN 2015 Relatedcenter_img Español Tags Kavit Majithia Orange Ventures injects €30M into new fund Orange makes secure cloud pact for French market IsraelOrangePartner Communicationslast_img read more