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Chinese AI startup, DeepSeek, shakes Wall Street; Pfizer to pay $60 million to settle allegations of kickbacks by subsidiary; Loretta “Lee” Ford, co-founder of the nurse practitioner, dies at 104 –Morning Medical Update
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- DeepSeek's low-cost AI app challenges U.S. tech giants, causing a selloff in AI-related stocks and questioning high spending in the industry.
- Pfizer settles for $59.7 million over allegations of kickbacks by Biohaven to promote Nurtec ODT, resolving a whistleblower case.
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Chinese AI startup, DeepSeek, shakes wall street
Chinese artificial intelligence (AI) company DeepSeek has disrupted the global tech scene with a low-cost app that some experts say rivals OpenAI’s ChatGPT, sparking a significant selloff in AI-related stocks. The app, with development costs of just $6 million, challenges the heavy spending of U.S. tech giants, who are collectively investing nearly $1 trillion in AI.
Shares of Nvidia, a manufacturer of advanced chips engineered for AI development, fell 14.5%, while ASML, a Dutch chipmaker, fell 6.7%, dragging the down the Nasdaq by 2.9% in early trading Monday morning. DeepSeek’s efficiency, leveraging inference-time computing and Nvidia chips, raises concerns about Silicon Valley’s spending and market valuations. CBS News has more.
Pfizer to pay nearly $60 million to settle allegations of kickbacks by subsidiary
Pfizer Inc. has agreed to pay $59.7 million to resolve allegations that its subsidiary, Biohaven Pharmaceutical Holding Company Ltd., violated the anti-kickback statute by offering improper payments to health care providers to boost prescriptions of the migraine drug Nurtec ODT. The claims, which stem from March 2020 to September 2022, include allegations of providing speaker honoraria, lavish meals and other incentives to influence prescribing behavior.
The settlement also resolves a whistleblower case, with the whistleblower set to receive $8.4 million. Pfizer ended the disputed practices after acquiring Biohaven in late 2022, according to the U.S. Department of Justice (DOJ).
Loretta Cecelia Pfingstel, better known as Loretta “Lee” Ford, EdD, RN, PNP, NP-C, CRNP, FAAN, FAANP, a trailblazing figure and co-founder of the nurse practitioner (NP) role, passed away last week, on January 22, 2025, at the age of 104. Born in the Bronx borough of New York City on December 28, 1920, Ford’s career began in public health nursing and culminated in the establishment of the first NP program in 1965, alongside Henry Silver, MD. Ford’s innovative work reshaped health care access, emphasizing holistic patient care and advanced practice roles for nurses. Her contributions earned her numerous accolades, including induction into the National Women’s Hall of Fame. Ford’s legacy will continue to inspire generations of health care professionals across the world.
Read the American Association of Nurse Practitioners’ (AANP’s) full piece celebrating Ford’s life and achievements here.
