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Sunday, June 1, 2025

How one woman took on ‘Big Pharma’ and (mostly) won

 As a sales rep for drug manufacturers Questcor, Lisa Pratta always suspected the company’s business practices weren’t just immoral but illegal, too, as she explains in “False Claims — One Insider’s Impossible Battle Against Big Pharma Corruption” (William Morrow).

But this was the final straw.

Lisa Pratta at her home In New Jersey. In 2011, Pratta began to spy on her employer Questcor, which she believed was overcharging patients by thousands of dollars for their medication Acthar.Stephen Yang

At a patient event in Freehold, NJ, in August 2011, a young woman walking with a cane asked Pratta if the drug she sold, Acthar, could help with her multiple sclerosis. When the woman mentioned she was a mother to two babies and also had been diagnosed with lymphoma, Pratta broke down.

“I couldn’t say anything,” Pratta tells The Post. “I just went to the ladies’ room and cried.

“And that was the turning point. I knew my days of keeping my mouth shut were over.”

Pratta began working for Questcor in 2010 as the sales rep in the Northeast region for Acthar, a drug which helped relieve autoimmune and inflammatory disorders. “If prescribed correctly, Acthar could help people walk again. And talk again,” writes Pratta.  

But, she adds, “Questcor made more money when it was prescribed incorrectly.”

They would do anything to sell Acthar. 

From paying doctors to prescribe it to using bogus research studies proclaiming its miraculous efficacy, they were so successful that Achtar’s price rose from $40 per vial in 2000 to nearly $39,000 in 2019 — an increase of 97,000%.

Pratta’s determination to do the right thing was partly the result of a traumatic childhood tainted by physical and sexual abuse.

Acthar’s price rose from $40 per vial in 2000 to nearly $39,000 in 2019 — an increase of 97,000%.Acthar

“I had to fight for myself and develop that inner strength,” she says. “I needed tenacity.”

That tenacity was put to the test when Pratta began to uncover the extent of Questcor’s corruption.  

Some sales reps were making up to $4 million a year and, in turn, kept the physicians doing their bidding in a life of luxury. “The greed had just taken over. They took them on scuba diving trips and bought clothes and shoes for their wives. One guy bought his doctor a brand new Armani suit and expensed it to Questcor,” she recalls.

“And I’m going to TJ Maxx to buy my shoes.”

Though she had deliberated about exposing Questcor, Pratta worried about the ramifications. “That’s all I could think about,” she says. “I was a single parent, mother of a special needs son and had a ton of debt from my divorce. 

“The last thing I needed was to be fired and homeless.”

The impetus to act came from former colleague, Pete Keller, who, also concerned about Questcor’s methods, had decided to tell the authorities. 

According to attorney Ross Begelman, Pratta served as a “relator,” feeding information from her company to the Federal government.Javerbaum Wurgaft

Now he needed Pratta, who was still working there, to act as a “relator” and feed information to lawyers, including health care fraud attorneys Marc Orlow and Ross Begelman.

To make the case, Pratta compiled as much evidence as possible, surreptitiously making notes at sales meetings and patient programs.

“I used to write notes on the palm of my hand under the table,” she explains. “If I was at a cocktail party and somebody confessed what they were doing was bribery, I would write it on a napkin in the bathroom or even on my pants. 

“I ruined a lot of suits.”

Given the financial might of the industry she was battling, Pratta became acutely aware of her own safety.

Before she turned whistleblower, Pratta researched other relators to see what happened to them. “Just to see if anybody was murdered,” she explains. “You know, a mysterious accident or a car blowing up.”

In 2012, the Department of Justice began an investigation into Questcor.AP

Consequently, she become hyper-vigilant. 

“I would see cars sitting at the end of my block and I just got paranoid,” she says. “I was watching even more when I went in stores or the parking lot. I got a dashcam, too.”

In January 2012, the Department of Justice began a preliminary investigation into Questcor. Soon, federal agents began calling at Pratta’s colleagues’ homes and she had to feign shock. But, she writes, “If I was the only one in the company who didn’t get an early-morning visit from the Feds, that wasn’t exactly helping me keep my cover.”

Soon, Pratta’s clandestine role became second nature to her. “It didn’t feel like I was still working for the government. It was like being married to my ex — they were never around, and there was no communication,” she writes. 

After Questcor was acquired by Irish pharma-giant Mallinckrodt in 2014, pressure to deliver even higher sales increased exponentially and with it came even greater disregard for ethics. 

After Questcor was acquired by Irish pharma-giant Mallinckrodt in 2014, pressure to deliver even higher sales increased exponentially and with it came even greater disregard for ethics. AP

In 2017, after she was repeatedly bullied by her boss, Pratta went to HR to complain but was fired soon after, although they maintained it was a corporate restructure, just to avoid a wrongful termination case.

“Ironically, I wasn’t fired because I was a double agent feeding information to the Department of Justice. Instead, they got rid of me for the offense of daring to speak out about an abusive manager,” she writes. 

In March 2019, the Department of Justice served a 100-page lawsuit against Mallinckrodt, alleging illegal marketing of Acthar, bribing doctors to boost sales and defrauding government health care programs

It also mentioned Pratta’s role in the case, meaning her long-held anonymity was now public knowledge.

“I didn’t mind that my former bosses knew; I just wished I could have seen their faces when they put it all together. I hoped they felt that their lives were suddenly out of their control. 

“The way the Acthar patients felt.”

In the wake of the lawsuit, Mallinckrodt filed for bankruptcy, a move which immediately halted all legal action against them, much to Pratta’s frustration. 

Worse still, a member of the New Jersey plumbers’ union with MS had his union file a class action lawsuit against Mallinckrodt — and, as Pratta’s identity was now revealed, and she was a New Jersey resident, he named her in it. 

While four of the five defendants were companies, Pratta was the only individual named.

“The plumbers’ union was not messing around,” she writes. “They were pissed, and rightly so. In 2018, they’d paid $26,100.28 for one dose of Acthar for one of its members.”

While that lawsuit against Pratta was ultimately thrown out, “by the time it was finally dismissed, I was left with almost $42,000 in attorneys’ fees,” she says. 

Nor did Pratta receive anywhere near the amount of compensation she could have been entitled to as a whistleblower. 

When Mallinckrodt settled out of court in March 2022, agreeing to pay just $26.3 million for violating the False Claims Act — far less than the amount had the case reached trial  — it meant Pratta’s percentage share was even smaller.

Worse still, it would now be paid in installments, once a year for the next eight years. “In reality, if I averaged it all out, it was as if I’d just stayed employed for another ten years instead of losing my job,” she reflects.

Pratta at her home in Jew Jersey with many of the documents and files that supported her cause against Questcor.Stephen Yang
For Pratta, though, the long, expensive journey to justice had been worth all the anxiety and sleepless nights.

In fact, she has no regrets whatsoever about doing what she did.

“Now I sleep like a baby,” she laughs.

https://nypost.com/2025/06/01/lifestyle/how-one-woman-took-on-big-pharma-and-mostly-won/

Ukraine wipes out dozens of Russian nuclear bombers in massive surprise attack on air bases, Kyiv says

 Ukrainian forces have wiped out dozens of Russian military aircraft, including nuclear bombers, in a massive drone attack on President Vladimir Putin’s air bases deep inside the country, Kyiv sources are claiming.

The mission carried out by Ukraine’s Security Service (SBU) using first-person-view (FPV) drones hit 41 Russian heavy bombers at four separate airfields thousands of miles from Ukraine, a security source told the Kyiv Independent on Sunday.

The drones were reportedly smuggled into the country hidden in trucks.

A picture of SBU Chief Vasyl Malyuk planning operation “Web,” date and location not disclosed.Ukraine's Security Service
A screenshot from a drone video of the alleged attack released by the SBU on June 1, 2025.Ukraine's Security Service

TU-95 “Bear” nuclear bombers, TU-22 “Backfire” fast-attack strike bombers and A-50 “Mainstay” command-and-control jets were among the aircraft that were destroyed in the strike, according to reports.

One of the bases hit was in the Irkutsk region of Siberia, almost 2,500 miles from Ukraine.

Others targeted were in Murmansk in the Arctic Circle, Ryazan southeast of Moscow, and Ivanovo, to the northeast of the Russian capital.

Another shot of the drone video.Ukraine's Security Service
Russian TU-22 fighter jetsAnadolu Agency via Getty Images

The operation, codenamed “Web,” took some 18 months of planning and, if the details are confirmed, will deal a huge blow to Moscow’s efforts to launch long-range missile attacks on Ukrainian cities.

“The SBU first transported FPV drones to Russia, and later on the territory of the Russian Federation, the drones were hidden under the roofs of mobile wooden cabins, already placed on trucks,” the source claimed.

“At the right moment, the roofs of the cabins were opened remotely, and the drones flew to hit Russian bombers.”

https://nypost.com/2025/06/01/world-news/ukraine-wipes-out-dozens-of-russian-nuclear-bombers-in-massive-surprise-attack-on-air-bases-kyiv-says/

SEC Flags Concerns on Crypto ETFs Offering Staking Rewards

  A potentially watershed effort to launch US crypto exchange-traded funds that offer staking rewards is throwing up regulatory doubts, even after the funds said they received initial SEC registration approval.

Issuers REX Financial and Osprey Funds are targeting to launch ETFs tracking Ethereum and Solana that offer staking exposure, which allows investors to earn rewards by pledging tokens to help operate the blockchain.

US regulators are now raising concern the vehicles may not legally qualify as ETFs at all under federal securities law.

In a letter late Friday sent to ETF Opportunities Trust — the legal entity that issues various ETFs including those managed by firms like REX — Securities and Exchange Commission staff said the two ETFs may fail to meet the legal definition of an investment company, a designation needed for the funds to list in the stock market.

The SEC said it was concerned the funds “improperly filed their registration statement” and that “disclosures in the registration statement regarding the funds’ status as investment companies may be potentially misleading.”

“We think we can satisfy the SEC on the investment company question, and we don’t intend to launch the funds until we do that,” said Greg Collett, general counsel at REX Financial.

The SEC declined to comment beyond the letter.

SEC Commissioner Caroline Crenshaw, the commission’s lone Democrat and frequent critic of its new view on crypto in President Donald Trump’s administration, said the situation was emblematic of the agency’s recent piecemeal approach to crypto regulation.

During his reelection campaign, Trump touted his own digital collectibles, gathered campaign donations from crypto fans and said he would make the US the “crypto capital of the planet.”

Since February, following the launch of a special advisory group on cryptocurrency, SEC staff have issued statements saying crypto assets such as memecoins and stablecoins aren’t securities, meaning they aren’t under the SEC’s jurisdiction.

Yet firms see opportunities to register with the SEC to launch new products, Crenshaw said in a statement Saturday.

“How is it that these crypto assets are supposedly not securities when it comes to registration requirements, but conveniently are securities when a registrant sees an opportunity to sell a new product?,” she said. “If you’re confused, join the club.”

It’s the second time in recent months that the SEC has publicly expressed doubt on a listed fund investing in alternative asset classes.

In March, it rebuked an ETF by State Street Corp. and Apollo Global Management — the world’s first to invest in private credit — hours after the fund listed.

“Even if the SEC doesn’t allow this structure to list, we still believe the more straightforward attempts to allow staking in a US ETF will ultimately be successful,” Bloomberg Intelligence ETF analyst James Seyffart said. “It’s a matter of when, not if. But the SEC doesn’t seem to be a fan of the way Rex tried to push these listings through.”

REX said it received a so-called effective registration for the two ETFs earlier Friday, meaning they could be listed anytime. REX founder Greg King said at the time the company was planning the launch by mid-June for both.

“To the extent that these concerns remain unresolved, the Commission staff will consider the appropriate next steps to ensure compliance with the federal securities laws,” the SEC said late Friday.

https://finance.yahoo.com/news/sec-flags-concerns-crypto-etfs-180757218.html

Nadler’s aide detained by DHS agents in Manhattan office

 Longtime Democratic Rep. Jerrold Nadler slammed President Trump for “sowing chaos” nationwide after federal agents handcuffed one of his aides inside his lower Manhattan office.

The lawmaker’s verbal tirade came after Department of Homeland Security officers entered the Big Apple office Wednesday and accused his staff of “harboring rioters” in a dramatic confrontation caught on video. 

“President Trump and the Department of Homeland Security are sowing chaos in our communities, using intimidating tactics against both citizens and non-citizens in a reckless and dangerous manner,” he said in a statement to Politico.

Rep. Jerrold Nadler blasted Trump after DHS cuffed one of his aides.YouTube/WNYC

“If this can happen in a Member of Congress’s office, it can happen to anyone — and it is happening.”

The video, obtained by Gothamist, showed one agent aggressively restraining a teary-eyed female staffer, while another employee asked for a warrant and blocked a second officer from entering a private section of the congressional office, located in the same Varick Street building as federal immigration court.

“I’m a federal officer, we’re here checking on something,” the male agent said to the employee standing in his way, the footage showed. 

“We have the right to check. You are harboring rioters in the office,” he argued in the heated back-and-forth that ended with the staffer granting him access to the back office.

Nadler said that the “deeply troubling” incident showed a clear violation of legal protocols. 

The video showed one employee asking for a warrant and blocking an officer from entering the office.YouTube/WNYC

Federal Protective Service officers went to the congressman’s office to conduct a security check after receiving reports that protesters were hiding inside, DHS told The Post in a statement.

“Based on earlier incidents in a nearby facility, FPS officers were concerned about the safety of the federal employees in the office and went to the location to ensure the safety and wellbeing of those present,” Homeland Security officials said.

Another teary-eyed staffer was cuffed during the heated confrontation.YouTube/WNYC

When they arrived, one individual – the woman who was briefly detained – was “verbally confrontational and physically blocked access to the office” after the officers identified themselves and explained why there were there.

“The officers then detained the individual in the hallway for the purpose of completing the security check,” DHS said.

Nadler said the “deeply troubling” incident violated legal protocols.Getty Images

The aide was released after the fiery standoff — which reportedly erupted when a Nadler staffer invited two advocates monitoring ICE activity at the courthouse into the office. 

Nadler charged that the Trump administration is embracing totalitarian and authoritarian tactics.

“The Trump administration is trying to intimidate members of Congress,” Nadler told the New York Times Saturday.

“They’re behaving like fascists. We have to fight them. We don’t want to be a fascist country.”

The White House did not immediately respond to The Post’s request for comment.

https://nypost.com/2025/05/31/us-news/dem-rep-nadler-slams-trump-for-sowing-chaos-after-his-aide-was-detained-by-heavy-handed-dhs-agents-in-manhattan-office/

Trump more detailed proposal for steep 2026 spending cuts

 The Trump administration on Friday unveiled more details of the president’s vision for how to fund the government in fiscal year 2026, expanding on its request earlier this month for steep spending cuts.

The lengthy budget appendix, which stretches to more than 1,200 pages, comes as Republicans in both chambers have pressed the administration for more information about the president’s proposed funding cuts.

President Trump is calling for more than $160 billion in cuts to nondefense discretionary spending — amounting to about 22 percent — while requesting a boost to defense dollars. 

While presidential budget requests aren’t signed into law, they can serve as a blueprint for lawmakers as they begin crafting their funding legislation.

House appropriators will take up the first set of funding bills next week, with subcommittees on military construction, the Department of Veterans Affairs, rural development, and the Department of Agriculture set to meet to consider the proposals on Thursday.

The White House rolled out Trump’s so-called skinny budget about a month ago. It ran 46 pages, and it’s not unusual for presidents to first roll out shorter versions of their proposals before releasing more details.

https://thehill.com/business/budget/5326736-trump-budget-proposal-2026-spending-cuts/