Financial Times

US Regulators Take Aim at Serena Williams-backed Venture While Novartis Warns of Price Hike for Cancer Drug

Regulators target Serena Williams-backed company as Novartis reveals plans to keep prostate cancer drug prices high. Find out more!

US regulators have taken action against a company backed by tennis star Serena Williams. The Consumer Financial Protection Bureau, under the direction of Rohit Chopra, has pursued legal action against the enterprise for deceptive practices. This move comes after a lawsuit was filed earlier this year. In a separate development, Novartis, a Swiss pharmaceutical giant, has issued a warning regarding the price of a prostate cancer drug. The company has indicated that the medication will remain expensive and will only be sold privately if health systems cannot afford it.

Furthermore, the scrutiny by US regulators on the Serena Williams-backed venture highlights the importance of transparency and consumer protection in the financial industry. The involvement of a high-profile celebrity in a business venture warrants close monitoring to ensure fair practices. On the other hand, Novartis' decision to maintain high prices for essential medication raises concerns about access to life-saving treatments for patients in need. The balance between profit-making and societal impact remains a critical issue in the healthcare sector.