Part One of this series discussed the advantages of coordinating state and federal mass torts cases, and specifically addressed New York law. The conclusion describes the process of applying for coordination in New York State.
When it comes to determining whether a product is a drug, a cosmetic, or both under the Federal Food, Drug and Cosmetic Act of 1938, the focus has been mostly on the marketing and promotional claims related to the product, at least based on available FDA guidance, case law, and recent enforcement actions. As the market for cosmeceuticals continues to grow, however, and if more products are formulated with ingredients found in FDA-approved prescription drugs, that focus could change.
Everything contained in this issue, in an easy-to-read format.
In-depth analysis of recent rulings.
All companies must live with the risks and uncertainties inherent in their businesses. Doing business with Chinese manufacturers, however, recently has proven to be more risky than some companies had anticipated.
Corporate scandals over the past decade have led to an encyclopedia of new statutes, regulations, initiatives, and programs, at the state, federal, and global levels. Corporations have responded with new or revised ethics codes and rules governing business conduct. Along with this mass of law, corporations have been expected to police themselves through stringent compliance and reporting programs. The current business cycle may make compliance efforts even more difficult.
The continuing economic crisis, driven in large measure by the subprime mortgage meltdown, is affecting major segments of the economy. Not a day goes by that there is not something in the press regarding the effects of billions of dollars of mortgage failures. Criminal investigations into all industries involved in the process are underway. The Department of Justice is considering creating a task force, much in the same way the Bush Administration created the Corporate Fraud Task Force in the aftermath of the Enron failure.
