Study: Insomnia costs U.S. economy $42 billion a year
NEW YORK Insomnia costs the U.S. economy $42 billion a year, according to a report released Wednesday.
The report, sponsored by drug maker Sanofi-Aventis and the Center for Medicine in the Public Interest, shows that many of the estimated 70 million cases of insomnia among Americans remain undiagnosed and untreated.
People with insomnia miss work twice as often as those without it and cost employers about 4.4 days of wages per untreated individual every six months. In some industries and professions, this can have particularly harmful effects: Professionals in training working in health care on recurring 24-hour shifts with little sleep make 36% more serious medical errors and as many as five times as many serious diagnostic errors than those limited to 16 hours.
“We should treat insomnia as it should be treated: a serious medical condition that has significant health and economic implications,” CMPI VP Robert Goldberg said. “Like other chronic diseases, insomnia has been managed according to the cost of treating patients instead of the cost the disease exacts on individuals, employers and society.”
Singh steps down as Ranbaxy head
GURGAON, India The leader of Indian generic drug maker Ranbaxy Labs will step down under a plan to reconstitute the company’s executive leadership.
Ranbaxy and majority stakeholder Daiichi Sankyo Co. announced Sunday that Malvinder Mohan Singh would step down as chairman, CEO and managing director of the company, effective immediately, replaced by COO Atul Sobti in the CEO and managing director positions and by Tsutome Une in the chairman position.
“It was a difficult decision to separate from Ranbaxy, but it was the right time for me to do so,” Singh said in a statement. “I leave with complete confidence that the initial transition phase that followed Daiichi Sankyo’s acquisition of majority shareholding interest in Ranbaxy has been completed successfully; and that the company’s excellent team of management colleagues are well-positioned to take full advantage of the company’s growth opportunities.”
The company last reconstituted its executive leadership in December, following Daiichi Sankyo’s acquisition of a 63.92% stake in Ranbaxy, completed the month before. At that time, Singh took on the role of chairman of the board in addition to his roles as CEO and managing director.
“Malvinder has decided to pursue other opportunities and is stepping down by his own choice,” Ranbaxy USA spokesman Chuck Caprariello told Drug Store News. Caprariello said that included work in the investment community and with hospital chain Fortis Healthcare.
The Little Clinic appoints new chief medical officer
BRENTWOOD, Tenn. The Little Clinic has appointed Ford Brewer as its new chief medical officer, providing medical oversight and management, along with the development and implementation of new clinical programs and company initiatives.
Since 2000, Brewer has served as medical director for Toyota North America.
He has more than 20 years of experience developing health solutions for many government agencies and private sector employers including Goldman-Sachs, GE and NASA. With a clinical background in both emergency room and urgent care settings, he is licensed to practice in 13 states and has previously supervised a team of more than 200 doctors who provide occupational and primary care in corporate settings.
“As we continue to grow, he will play an integral part in broadening our service menu with programs that complement the current core offerings and focus on prevention, wellness and expanded services. He will manage the clinical aspects and provide medical oversight of all new and current programs while also overseeing the entire medical affairs function for the company,” stated Lisa Loscalzo, president of The Little Clinic, which operates nearly 100 retail-based clinics.