Largest settlement of Healthcare Fraud

how vile. Hope no one evr uses a gsk product again, that might teach them a lesson

 

OUCH! Gotta hurt!

 

Stock is just fine!

 

Keep in mind all this has been announced last year with the exception of the dollar amount. Actually the stock is growing throughout the afternoon today. Analysts saw how much we saved in cash versus what we will pay out so they see us with extra cash on hand. Hmmm...

 

Send management and legal department to jail

 

It's past management, not current management

 

They have enough in reserve to cover these fines. All big companies do, if not many would fold. This is now old news. Hope you had fun with your Happy Dance. We are survivors, are you?

 

Layoffs are a coming! $3 billion has to come from somewhere!

 

Is there a whistleblower about to cash in super "lotto" size claim...?

 

They apparently learned nothing from the big Pfizer settlement a few years ago, the Neurontin case, the Abbott case or any of the other big settlements.

So much for that PhRMA "code".

 

Advair: During the period January 1, 2001 through June 30, 2010, GSK knowingly: (a) promoted*the sale and use of Advair for conditions and dosing regimens other than those for which its use*was approved as safe and effective by the FDA (including first line use for mild or all asthma,*and for asthma previously treated by short-acting inhalers alone), and some of which were not*medically-accepted indications as defined by 42 U.S.C. § 1396r-8(k)(6) for which the United*States and state Medicaid programs provided coverage for Advair (b) made and/or disseminated*unsubstantiated and/or false and/or misleading representations or statements about the safety*and efficacy of Advair (including that Advair was superior to the single component, inhaled*corticosteroid alone, for patients previously treated by short-acting inhalers alone); and (c)*offered and paid illegal remuneration to health care professionals to induce them to promote*and prescribe Advair, in violation of the Federal Anti-Kickback Statute, 42 U.S.C. § 1320-7b(b). As*a result of the foregoing conduct, GSK knowingly caused false or fraudulent claims for Advair to*be submitted to, or caused purchases by Medicaid, Medicare and the other Federal Health Care*Programs.

 

That is the Witty spin. He was part of the management team when this shit happened.

 

They have misled the medical community for years on every product the sold. AND the reps were well aware of the lies. Check all the warning letters for false and misleading promotions (almost monthly) for years.

 

HOW MUCH DID THE WHISTLBLOWER GET?

 

There should be crimnal charges against top mgmt. I bet some of the are worried about it.

 

Gordon Gecko would be so proud. This is what happens when there's so much money washing around in healthcare (17% of USA's GDP and climbing). Codes of conduct, ethics training, platitudes about doing the right thing . . . . Will not overcome pure greed. You can't blame the doctors, or your competitors, or the "system" or management. Each person makes a choice, every day, to be clean or dirty. The real loser here is the taxpayer. Even $3 billion will not repay the public for the money wasted buying drugs that were promoted but not useful in treating off-label indications. This is just another form of tax.

Until we have natioinalized healthcare, GSK, Pfizer, Abbot, Lilly, Merck, Roach, etc., will keep promoting illegally, and keep making windfall profits, and keep paying the occasional off-label, kickback tax. The Teaparty (all of that God and American Exceptionalism rhetoric) loves this kind of free enterprise. Problem is, US pays 2-5x what other countries pay for drugs, so we subsidize the drug pricing for the rest of the world. That is a form of redistribution of wealth I think the Teaparty types would condemn, but you don't hear them acknowledge this fact.

You know it. Shareholders know it. The status quo, even with these fines, is good for profits. That's why the stock price of Big Pharma weren't hurt by Obamacare. Billy Tozan protected the industry, and Obama (I don't blame him, he didn't have the votes or popular support for doing more) compromised the ideal solution, which is national Federal pricing for pharmaceuticals.

The majority of medications are taken by people over 65. We need nationalized healthcare, so the ultimate payer, all of us, can negotiate fair prices for drugs and medical devices.

 

Oh fuck off you Roach

 

George Abercrombie
Chris Singer
Jim Daley
Tim Tyson

 

Not enough to compensate for what this did to their lives the last 11 years! They deserve every dime they get for their courage and convictions!

 

Sorry, but I beg to differ. Sir AW was there the entire time. He was being groomed for the position that he now holds. He does not just have blood on his hands, he's bathed in it. Sir AW is as guilty as the rest of them