This story, like the Martin Skkreli narrative, has run its course and is now boring to me. WBA is suspending their relationship with Theranos. The companies valuation of $10 billion can no longer be justified. The unicorn has been slain.
If you enjoy the content at iBankCoin, please follow us on TwitterWalgreens Boots Alliance Inc. said it will stop sending lab tests to Theranos Inc.’s Newark, California, facility after U.S. regulators found severe deficiencies at the lab.
The companies have been working together to provide lab testing to consumers through a handful of Walgreens stores in California and Arizona. Theranos’s lab in Arizona, where it does the majority of its analysis, isn’t affected. Shortcomings at the California lab jeopardized the health and safety of patients, the Centers for Medicare and Medicaid Services said in a letter to Theranos made public on Wednesday.
“No patient samples will be sent to the Newark lab until all issues raised by CMS have been fully resolved,” Walgreens said Thursday.
Good riddance to bad rubbish. I feel bad for any regular Joe/Jane who partook in this charade.
I assume you’re talking about the testing and being a patient part of this, and not being an investor. You know there can’t be regular folks who invest in the Silicon Valley darlings…
I’m counting 28 Walgreen’s in the Phoenix area w/ Theranos Wellness centers. Arizona inspectors aren’t too happy w/ Theranos either. Would expect they will be following CA, and these will be shut down in short order.
http://www.azcentral.com/story/money/business/consumers/2015/11/27/arizona-inspectors-find-theranos-lab-issues/76021416/