Did Fagron just buy Bellevue?

Word on the street is that this is true...

 

Not true at all, why would a company buy a pharmacy who's creams will not be covered by years end and is being looked at for improper payments to physicians.

 

I thought so too, but their reps are saying this is true.

 

Fagron's reps are saying that they did? How can we verify this?

 

Not Fagron reps, Bellevue reps are telling people this. Not sure how to verify this. Why would Fagron tell anyone if in fact they did buy Bellevue?

 

and why would they buy a company who's main product will be all but out of business by Jan. 1 and investigated from what I hear regarding improper payments to " consultant speakers"

 

Any link to them being investigated? The rumor has always been that they have had shady business practices.

 

Bellevue investigated-YES
Fagron purchasing-Not a chance....it would put Bellevue or Fagron out of business in the States. Business enterprise conflict.

 

Fagron bought Bellevue and JCB Labs. Seems like a major conflict of interest for any pharmacy purchasing product from them or Freedom considering they will be able to undercut any and all other compounding pharmacy prices that are not covered under insurance, which as everyone knows, is becoming increasingly more prevalent in the industry.

 

why is it a conflict of interest?

 

Legal Trouble May Be Coming For Osiris' Sales Executives
May. 8, 2015 4:02 PM ET | 3 comments | about: Osiris Therapeutics, Inc. (OSIR)
Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. (More...)
Summary

A plea agreement by their former colleagues leads us to believe an Osiris executive is under investigation for alleged kickbacks that took place while he worked for Advance Bio Healing.
Program called the "Magic Wand" or "Receipt Maker" to provide gratuities to physicians without being detected.
Even if no illegal activity is found at Osiris, it seems likely that the investigation will expand to include Mr. Clawson and Mr. O'Briant.
Osiris Therapeutics (NASDAQ: OSIR) is a developer, manufacturer and distributor of regenerative medicine products. Focused on the United States, the company's main products include Grafix, for treating wounds, BIO4, a bone allograft, and Cartiform, a chondral allograft. Products are distributed through the company's salesforce to hospitals, physicians, clinics and other distributors. The market for the products is very competitive with a number of large biologics firms including Zimmer, RTI Biologics, Medtronic and many others with substantial resources to market their products.

At Least One of Osiris' Executives May Be Under Investigation for Providing Kickbacks and Fraud

In a recent Department of Justice Investigation, two sales persons who worked for Advance Bio Healing (ABH - which was purchased by Shire in 2011 and recently by Organegenisis) signed a plea agreement in July of last year related to paying kickbacks to doctors in order to induce them to use ABH's Dermagraft products. These two individuals, Charles Anthony Ezell and Nicolo Rallo worked in the salesforce and reported to Todd Clawson and Keith O'Briant at ABH. Based on information provided in the plea agreement, it appears they may have been co-conspirators in the kickback scheme.

The plea agreements for Ezell and Rallo can be located in court files for the U.S. District Court, Middle District of Florida or you can go to www.pacer.gov and refer case 8:14-cr-00311-RAL-MAP to search for the court files.

The inclusion of these two individuals could spell trouble for Osiris given Mr. Clawson's current role as National Director of sales and marketing and close association with Keith O'Briant who was a consultant with the company.

Based on the information included in the plea agreement, in late 2009 a co-conspirator worked with management to develop a program called the "Magic Wand" or "Receipt Maker" to provide gratuities to physicians without being detected. Mr. Ezell later created false receipts which he shared with the other conspirators. The plea agreement states that,

Mr. Ezell together with others including "KO," "NR," "TC," (who were ABH officers known to the defendant and the government), and members of the ABH sales force, did knowingly and willfully conspire to and did offer and pay physicians and the physicians' staff kickbacks...

(click to enlarge)

 

So what does this mean for Bellvue??

 

Those two individuals no longer work for Bellevue Pharmacy.

 

They were fired, this company is sinking quick, they are bs'ing their sales force so they don't leave in masses.

 

I agree that we are being fed BS. There is no way anyone will be able to make decent money here anymore. How??? Regardless of how much volume you have, the money just isn't there. I'm just now getting calls to interview. Don't know which direction to go really...labs, pharma, device, etc? Just need to make at least $100k. Won't be doing that here anytime soon. Anybody have any input on where they plan on going after compounding?

 

The group that owns Fagron definitely did buy Bellevue. As well as a pharmacy in Las Vegas, NV, Anazeo. Two of the largest compounding pharmacies in the country. Fagron is now in direct competition with my pharmacy as well as any other independent compounding pharmacy out there. Not cool.