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Kickback Trial

Discussion in 'Novartis' started by Michael Cohen's Ghost, Apr 2, 2019 at 3:46 PM.

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  1. anonymous

    anonymous Guest

    How exactly is Vas going to be successful in his initiative when he is harboring individuals from those times or their protégés who are still controlling everything in the US? He missed his chance and cowered before the powerful during the last layoffs and affected only those they thought would not retaliate in a vindictive manner. He has no courage to do the right thing.
     

  2. anonymous

    anonymous Guest

    like most ECN members, Vas has no clue what's going on in this company below the surface.

    all is well and good, until enough ripples of water begin to splash and get your feet wet.

    you do what you can to avoid becoming drenched, though you haven't slain the beast.

    because you depend on the beast to feast.
     
  3. anonymous

    anonymous Guest

    He is not going to. He will just go along till it’s time to leave. He cannot take a strong stance as he is inexperienced and depends heavily on gossip. Anyone who cannot filter the right from wrong and agrees blindly to the gossip about people from closest aides can take wrong decisions. A leader must have this ability to distinguish. The people from any new partnering companies have gossiped about internal NVS personnel from previous association and mocked them leading to positions in NVS being eliminated due to weak and insecure NVS leadership not being able to separate gossip from truth. Some people have been very tragically affected by this gossip.
     
  4. anonymous

    anonymous Guest

    It will be five years. One reason they are settling the Oswald Bilotta case for one billion dollars or whatever the amount will be is because they were still under the cia in a previous settlement agreement.
     
  5. Avexis

    Avexis Guest

    Novartis dodged a bullet. Had they gone to trial & the Avexis data manipulation situation arisen you can bet the loss would have cost them 2-3 billion on the low end
     
  6. anonymous

    anonymous Guest

    the settlement negotiation is not concluded yet.
     
  7. anonymous

    anonymous Guest

    Motions were withdrawn August 5 without prejudice to resubmission. Settlement announced soon once signed off.
     
  8. anonymous

    anonymous Guest

    August 2019 will be remembered as a very bad month for Novartis. The question becomes - What's next! There will be additional headline news that show the true colors
     
  9. anonymous

    anonymous Guest

    August 18th is coming up. Buckle up and get ready to spend many weeks defending the company's reputation
     
  10. anonymous

    anonymous Guest

    I've been selling the same pos cv med but only get 9 rxs. Well actually my pdi midget ho skank Lina & I can only get 4 new rxs, those other 5 rxs are refills
     
  11. anonymous

    anonymous Guest

    Still not settled. This is September. I wander why?
     
  12. anonymous

    anonymous Guest

    It's settled. The trial was dismissed. The official amount has not been announced. Don't know why. Expect it any day. Another black eye on Novartis.
     
  13. anonymous

    anonymous Guest

    Most likely because of your atrocious spelling :rolleyes:
     
  14. anonymous

    anonymous Guest

    any idea why settlement been formally announced? has the FDA's August surprise put the DOJ in a much stronger negotiating position to ask > $2bn instead of taking NVS' bid for $700mn?
     
  15. anonymous

    anonymous Guest

    I would assume around the $700m will be the number and was probably agreed upon when trial cancelled. It is taking a long time probably government filings. The next earnings call is October 22nd so mot likely on or before that date. With that large of a settlement it will make national news.
     
  16. anonymous

    anonymous Guest

    It was dismissed Go back to work now lazy bum reps :rolleyes:
     
  17. anonymous

    anonymous Guest

    Novartis Pharmaceuticals Corp. (“Novartis”) announced that it has earmarked funds to settle allegations brought by the US Department of Justice (“DOJ”) that it made illegal kickback payments to healthcare providers in order to induce them to write prescriptions for Novartis drugs which were ultimately reimbursed by Medicare and other federal healthcare programs. Novartis has set aside $700 million for “any potential settlement.”

    According to Novartis’s internal data, from January 2002 through November 2011, it conducted in excess of 38,000 speaker programs for the three noted drugs, spending nearly $65 million on the effort. It also showed that Novartis reaped a high return on investment for the speaker programs, with “honoraria” payments to doctors for speaking about the drugs creating the highest return on investment.

    Compounding Novartis’s problems in this suit was a 2010 settlement in another AKS violation suit in which Novartis entered into a Corporate Integrity Agreement (“CIA”) with the US Department of Health and Human Services Office of Inspector General, in which Novartis agreed to implement a “rigorous” compliance program. However, that compliance program did not detect the speaker programs being used for “illegitimate purposes,” nor did it prevent the kickbacks from being paid going forward. In addition, on the rare occasions that speaker program abuses were reported, the punishment was cursory.

    Speaking about the settlement, Novartis CEO Vas Narasimhan noted that it is “consistent with our efforts to resolve our legacy compliance-related allegations.” There is no word yet on what sort of new and improved compliance efforts Novartis will have implement, given the failures of its prior compliance program.

    Novartis Earmarks Funds for Potential Settlement in Anti Kickback Case
     
  18. anonymous

    anonymous Guest

    Maybe if they hadn’t put so much pressure on reps to do programs; also forcing down so much money that “had to be spent “, especially towards the end of the year...
     
  19. anonymous

    anonymous Guest

    Year of the field. This year reps can be lazy and not do programs
     
  20. anonymous

    anonymous Guest

    I would do them. If the right people would come; instead of the same ones that come each time.