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Thread: Pfizer to pay record $2.3B penalty for drug promos

  1. #1

    Pfizer to pay record $2.3B penalty for drug promos

    now why can't they just donate half of that to stem cell research and most of those drugs would not be needed!
    just my 2 cents.
    Street Dreamz c.c. maryland

  2. #2
    Senior Member bill j.'s Avatar
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    Big guys get fined, little guys get sent to prison

    Why is it that in our country when corporation do criminal acts, they get fined most of the time....but when the common men do criminal acts (like shop lifting at Walmart or smoking a joint), they spend time in the slammer!
    September 3, 2009
    Pfizer Pays $2.3 Billion to Settle Marketing Case

    By GARDINER HARRIS
    WASHINGTON — The pharmaceutical giant Pfizer agreed to pay $2.3 billion to settle civil and criminal allegations that it had illegally marketed its now-withdrawn painkiller, Bextra.



    It was the largest health care fraud settlement and the largest criminal fine of any kind ever.


    Although the investigation began and largely ended during the Bush administration, top Obama administration officials held a press conference on Wednesday to celebrate the settlement, thank each other for resolving it and promise more crackdowns on health fraud.
    “It’s another step in the administration’s ongoing effort to prosecute any individual or organization that tries to rip off health care consumers and the federal government,” said Kathleen Sebelius, secretary of health and human services.


    Republicans and Democrats on Capitol Hill have accused the Obama administration of failing to crack down adequately on health care fraud, arguing that huge savings in government health programs could be found with better enforcement. The settlement had been expected. Pfizer, which is acquiring a rival, Wyeth, reported in January that it had taken a $2.3 billion charge to resolve claims involving Bextra and other drugs. It was Pfizer’s fourth settlement over illegal marketing activities since 2002.
    “Among the factors we considered in calibrating this severe punishment was Pfizer’s recidivism,” said Michael K. Loucks, acting United States attorney for the Massachusetts district.


    Amy W. Schulman, Pfizer’s general counsel, said that Pfizer had reformed — again.


    “The reasons to trust Pfizer are because, as I have walked the halls at Pfizer, you would see that the vast majority of our employees spend their lives dedicated to bringing truly important medications to patients and physicians in an appropriate manner,” she said.


    The government charged that executives and sales representatives throughout Pfizer’s ranks planned and executed schemes to illegally market not only Bextra but also Geodon, an antipsychotic; Zyvox, an antibiotic; and Lyrica, which treats nerve pain. While the government said the fine was a record sum, the $2.3 billion fine amounts to less than three weeks of Pfizer’s sales.


    Much of the activities cited Wednesday occurred while Pfizer was in the midst of resolving allegations that it illegally marketed Neurontin, an epilepsy drug for which the company in 2004 paid a $430 million fine and signed a corporate integrity agreement — a companywide promise to behave.http://www.nytimes.com/2009/09/03/bu...gewanted=print

  3. #3
    Senior Member bill j.'s Avatar
    Join Date
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    Big guys get fined, little guys get sent to prison

    Why is it that in our country when corporation do criminal acts, they get fined most of the time....but when the common men do criminal acts (like shop lifting at Walmart or smoking a joint), they spend time in the slammer!
    September 3, 2009
    Pfizer Pays $2.3 Billion to Settle Marketing Case

    By GARDINER HARRIS
    WASHINGTON — The pharmaceutical giant Pfizer agreed to pay $2.3 billion to settle civil and criminal allegations that it had illegally marketed its now-withdrawn painkiller, Bextra.



    It was the largest health care fraud settlement and the largest criminal fine of any kind ever.


    Although the investigation began and largely ended during the Bush administration, top Obama administration officials held a press conference on Wednesday to celebrate the settlement, thank each other for resolving it and promise more crackdowns on health fraud.
    “It’s another step in the administration’s ongoing effort to prosecute any individual or organization that tries to rip off health care consumers and the federal government,” said Kathleen Sebelius, secretary of health and human services.


    Republicans and Democrats on Capitol Hill have accused the Obama administration of failing to crack down adequately on health care fraud, arguing that huge savings in government health programs could be found with better enforcement. The settlement had been expected. Pfizer, which is acquiring a rival, Wyeth, reported in January that it had taken a $2.3 billion charge to resolve claims involving Bextra and other drugs. It was Pfizer’s fourth settlement over illegal marketing activities since 2002.
    “Among the factors we considered in calibrating this severe punishment was Pfizer’s recidivism,” said Michael K. Loucks, acting United States attorney for the Massachusetts district.


    Amy W. Schulman, Pfizer’s general counsel, said that Pfizer had reformed — again.


    “The reasons to trust Pfizer are because, as I have walked the halls at Pfizer, you would see that the vast majority of our employees spend their lives dedicated to bringing truly important medications to patients and physicians in an appropriate manner,” she said.


    The government charged that executives and sales representatives throughout Pfizer’s ranks planned and executed schemes to illegally market not only Bextra but also Geodon, an antipsychotic; Zyvox, an antibiotic; and Lyrica, which treats nerve pain. While the government said the fine was a record sum, the $2.3 billion fine amounts to less than three weeks of Pfizer’s sales.


    Much of the activities cited Wednesday occurred while Pfizer was in the midst of resolving allegations that it illegally marketed Neurontin, an epilepsy drug for which the company in 2004 paid a $430 million fine and signed a corporate integrity agreement — a companywide promise to behave.http://www.nytimes.com/2009/09/03/bu...gewanted=print

  4. #4
    In China, they execute the big guys as an example to others. Whatever one might think of the method, it works. Everybody tiptoes around after that for a while.

    Seriously, $2.3 billion is not chump change. This is the largest fine ever paid by any pharmaceutical company. What was their crime? They encouraged doctors to use Bextra (a COX-2 inhibitor) on conditions other than rheumatoid arthritis and they also encouraged doctors to use higher doses than approved by the FDA. There is no evidence that anybody was hurt by this except that many prescriptions were charged to Medicare. A bunch of heads have already and many more will probably roll in Pfizer for this fiasco. These kinds of punitive actions by the FDA are turning heads in other companies.

    One upshot of this is that companies will discourage off-label use of drugs. They can't be seen to encourage off-label or off-dose use of their drugs. Most drug companies have appointed a chief compliance officer and a compliance office that is constantly training and enforcing regulations. For example, a company cannot encourage doctors to use fampridine for spinal cord injury when it has been approved for multiple sclerosis. It also adds to the cost of drugs. Ultimately, the people will pay this fine.

    Wise

  5. #5
    that's what i do like about china they don't pay around. there you get the death sentence they put a bullet in your head and send your family the bill for it. people in the u.s. end up dying of old age.
    Street Dreamz c.c. maryland

  6. #6
    Senior Member Hunker's Avatar
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    Pfizer gives me free Viagra. I am poor so i qualify. Goes to show they can pay the $$. Just another example of big business. http://www.moviewavs.com/php/sounds/...ittygritty.wav

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