GlaxoSmithKline is the latest drugmaker to pay the price for a government investigation of off-label marketing. The company said it’s taking a $400 million hit over a Justice Department investigation of the way Glaxo marketed top drugs.
Glaxo said it would take the charge in its fourth-quarter results due to an investigation initiated by the U.S. attorney’s office in Colorado over “marketing and promotional practices for several products” from 1997 to 2004.
WSJ
3 comments:
Maybe, just maybe, if these idiot companies tried acting legally, they wouldn't have to cut costs (= fire staff) quite so much.
But then I guess they still make more money than they pay in fines, so all the time the balance sheet is showing that crime pays...
But wouldn't it be oh so good to see these multi-millionaire CEOs held accountable for the criminal acts of their greedy companies just now and then?
Seeing a Kindler or a Witty doing time would certainly make them (and others) take an interest in making sure that their underlings stick to the rules...
How much more effective than million dollar fines for billion dollar companies would THAT be?
One gets the sense that all the big pharma players are eager to settle while US attorneys of the previous administration are still in there. Presumably the new crop of US attorneys under an Obama administration would view these shenanigans much more seriously and the penalties would be a lot stiffer. LLY, PFE and GSK practices would have to have been real bad for an administration, where Hank McKinnell was a Bush Ranger, to levy such strong penalties.
you should check out the Med Magazine! new satire magazine about bipolar disorder with phrama gossip aplenty.
www.themedmagazine.com
Post a Comment