[News] GlaxoSmithKline $3 billion settlement

Bernard

Your Host
Administrator
Benefactor
Messages
6,644
Reaction score
123
Points
228
...
The U.S. government complaint against Glaxo followed a nine-year investigation of the company's marketing practices, and led to the settlement announced this week. As part of the deal, Glaxo is pleading guilty to criminal charges related to illegal drug marketing and failing to report important drug-safety data to the Food and Drug Administration.

The $3 billion fine will also settle the government's civil claims against Glaxo, including allegations that the company plied doctors with cash and lavish trips to resorts to get them to promote Glaxo drugs for uses beyond those specified in the drugs' FDA-approved prescribing labels.
...
http://finance.yahoo.com/news/dr-drew-paid-glaxo-225700871.html
 

Nakamova

Super Moderator / Thank You Queen
Moderator
Messages
17,033
Reaction score
432
Points
193
A Big Pharma company playing fast-and-loose with the rules?
Color me surprised.

<sarcasm>
 

Nakamova

Super Moderator / Thank You Queen
Moderator
Messages
17,033
Reaction score
432
Points
193
Wellbutrin, Paxil, and Avandia.
 

Cint

VIP
Supporter
Messages
5,541
Reaction score
13
Points
203
AND, according to this website
http://www.pharmalot.com/2012/07/biggest-deal-ever-glaxo-pays-3b-for-bad-behavior/
there is more:
There’s more, folks… “As part of this global resolution, Glaxo agreed to resolve its civil liability for the following alleged conduct: (1) promoting the drugs Paxil, Wellbutrin, Advair, Lamictal and Zofran for off-label, non-covered uses and paying kickbacks to physicians to prescribe those drugs as well as the drugs Imitrex, Lotronex, Flovent and Valtrex; (2) making false and misleading statements concerning the safety of Avandia; and (3) reporting false best prices and underpaying rebates owed under the Medicaid Drug Rebate Program.” These infractions, which were described in four whistleblower lawsuits, resulted in a $1 billion fine.

And Glaxo is also resolving allegations that, between 1994 and 2003, false drug prices were reported to the federal government, which resulted in underpaying rebates owed under the Medicaid Drug Rebate Program. By law, Glaxo was required to report the lowest, or best price charged customers and to pay quarterly rebates to states based on those reported prices. And so, Glaxo agreed to pay $300 million to resolve these allegations, including $160.9 million to the federal government, $118.8 million to the states and $20.2 million to certain Public Health Service entities who paid inflated prices for the drugs at issue, according to the statement from the feds.
 
Messages
63
Reaction score
0
Points
0
this just makes me sick, the almighty buck,greed,cheating,lying....don't these people have morals or values? What happened to treat others like you want to be treated?
Somethings very very wrong!
 

Silat

New
Messages
762
Reaction score
1
Points
0
While I believe in businesses taking measures to remain competitive in the market place, this is way too far...

It just makes me wonder how many people got hurt so they could make their profits. :?
 
Messages
649
Reaction score
0
Points
0
You know, every business has incentives, freebies, and/or cash bonuses... but to lie about test results at the expense of another human beings health and Wellness... that's what fry's my a$$! How do they sleep at night? The moral construct is obviously absent... and it's such a freakin bummer! Trust me... there's way more to this story than we will ever know.

:( :( :(
 
Top