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GlaxoSmithKline to pay $3bn in US drug fraud scandal
GlaxoSmithKline (GSK) is to pay $3bn (£1.9bn) in the largest healthcare fraud settlement in US history.
The drug giant is to plead guilty to promoting two drugs for unapproved uses and failing to report safety data about a diabetes drug to the Food and Drug Administration (FDA).
The settlement will cover criminal fines as well as civil settlements with the federal and state governments.
The case concerns the drugs Paxil, Wellbutrin and Avandia.
Deputy US Attorney General James Cole told a news conference in Washington DC that the settlement was "unprecedented in both size and scope".
Doctors bribed
GSK, one of the world's largest healthcare and pharmaceuticals companies, admitted to promoting antidepressants Paxil and Wellbutrin for unapproved uses, including treatment of children and adolescents.
The illegal practice is known as off-label marketing.
The company also conceded charges that it held back data and made unsupported safety claims over its diabetes drug Avandia.
In addition, GSK has been found guilty of paying kickbacks to doctors.
"The sales force bribed physicians to prescribe GSK products using every imaginable form of high-priced entertainment, from Hawaiian vacations [and] paying doctors millions of dollars to go on speaking tours, to tickets to Madonna concerts," said US attorney Carmin Ortiz.
As part of the settlement, GSK agreed to be monitored by government officials for five years.
GSK said in a statement it would pay the fines through existing cash resources.
Andrew Witty, the firm's chief executive, said procedures for compliance, marketing and selling had been changed at GSK's US unit.
"We have learnt from the mistakes that were made," Mr Witty said. "When necessary, we have removed employees who have engaged in misconduct."
If you can't control drugs in a maximum security prison, then how can you control drugs in a free society?
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If it's true that there was a Big Bang, everything that each of us are was once contained in that needle tip of highly condensed matter. Over time, the Universe grew in ways which enabled it to see and understand itself. We are the universe looking back at itself.
GSK said in a statement it would pay the fines through existing cash resources.
I.e. low level employees will have to be fired so as to not cut into the profits of high-level management
-------------------- A cautious young fellow named Lodge / Had seat belts installed in his Dodge. / When his date was strapped in / He committed a sin / Without even leaving the garage. That's clever, isn't it?-A boy and his dog
The industry calculates in advance what it will cost if it is caught doing these types of things. In most cases, it is more profitable to violate the law because the profits outweigh the ensuing fines. None of this is an accident in any way, it is standard practice.
Quote: 5-HT2A said: The industry calculates in advance what it will cost if it is caught doing these types of things. In most cases, it is more profitable to violate the law because the profits outweigh the ensuing fines. None of this is an accident in any way, it is standard practice.
This 100%.
The sickest part is the collaboration between "government" people and top-tier business executives, who either often have very very close and long-standing ties OR are the very same people.
Quote: 5-HT2A said: The industry calculates in advance what it will cost if it is caught doing these types of things. In most cases, it is more profitable to violate the law because the profits outweigh the ensuing fines. None of this is an accident in any way, it is standard practice.
This 100%.
The sickest part is the collaboration between "government" people and top-tier business executives, who either often have very very close and long-standing ties OR are the very same people.
i think it's pretty sick these liars don't get shut down for [potentially] endangering public safety
anyone else who endangers someone's life goes to prison, but not these guys
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