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GlaxoSmithKline to pay $3bn in US drug fraud scandal


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#1 thatlookseasy

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Posted 03 July 2012 - 09:22 AM

http://www.bbc.co.uk...canada-18673220

GlaxoSmithKline to pay $3bn in US drug fraud scandal


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 10 drugs, including Paxil, Wellbutrin, Avandia and Advair.

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.

It agreed to resolve civil liability for promoting asthma drug Advair and two lesser-known drugs for unapproved uses.

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.


Oh drug companies, you always have our best interests at heart.

#2 Panthro

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Posted 03 July 2012 - 09:24 AM

free market!!!

#3 cantrell

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Posted 03 July 2012 - 09:27 AM

you see once we get rid of those damned government regulations everyone will break out their chemistry sets and do their own research to find out exactly what they're being lied to about

nope information asymmetry is not a problem at all when it comes to simple things like the composition of pills

#4 Floppin

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Posted 03 July 2012 - 09:28 AM

Yep, these are the people that developed Paxil (paroxetine) the medicine that I just recently quit taking.

But guys!!!! A free market capitalism based medical system is the best and ONLY way to go!!!

#5 Jase

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Posted 03 July 2012 - 09:31 AM

the doctors shouldn't have taken the bribes... are they going to jail? They probably should.

#6 Jase

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Posted 03 July 2012 - 09:32 AM

Can someone explain to me how the current FDA/ Big Pharma complex even remotely resembles a free market?

I'm waiting.


Big pharma is big pharma BECAUSE of the government, not the other way around.

#7 g5jamz

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Posted 03 July 2012 - 09:37 AM

Right. Compared to the world, our "big pharma" is a bureaucratic morass.

#8 Floppin

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Posted 03 July 2012 - 09:46 AM

Can someone explain to me how the current FDA/ Big Pharma complex even remotely resembles a free market?

I'm waiting.


Big pharma is big pharma BECAUSE of the government, not the other way around.


Yeah it's not. I was just being sarcastic. Our medical industry, especially concerning medication and/or equipment, is a corrupt profit driven oligarchic mess.

#9 thatlookseasy

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Posted 03 July 2012 - 09:56 AM

Can someone explain to me how the current FDA/ Big Pharma complex even remotely resembles a free market?

I'm waiting.


Big pharma is big pharma BECAUSE of the government, not the other way around.


Actually I think big pharma exists because people will spend lots of money to stay alive,

Although I suppose you could blame the government for trying to keep poor people alive. If the free market had its way emergency rooms would only be for those with health insurance or those who happen to be carrying thousands of dollars in cash when they had a heart attack

#10 cantrell

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Posted 03 July 2012 - 10:01 AM

Can someone explain to me how the current FDA/ Big Pharma complex even remotely resembles a free market?

I'm waiting.


Big pharma is big pharma BECAUSE of the government, not the other way around.


i agree. first of all we should do away with patent law, one of the primary obstacles separating the drug industry from the glorious free market. next we should ask drug companies to pinky promise not to take advantage of consumers. drug companies would never sell "cure-all" snake oils because then they'd be breaking their pinky promise. of course that doesn't really matter anyway because the consumer would have the perfect information to make intelligent choices because surely drug manufacturers would never attempt to mislead consumers in a purely free market.

i mean there's no incentive to fill capsules with sugar and market it as a cure for AIDS rather than spend the time, money, and effort to find a cure because uhhhhhhhhhhhh

tl;dr get fuged, free market

#11 Jase

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Posted 03 July 2012 - 10:02 AM

Actually I think big pharma exists because people will spend lots of money to stay alive,

Although I suppose you could blame the government for trying to keep poor people alive. If the free market had its way emergency rooms would only be for those with health insurance or those who happen to be carrying thousands of dollars in cash when they had a heart attack

That's not it at all. The biggest pharmaceutical companies stave off nimbler competitors because they have legislation written especially for them to maintain 'legal monopolies' for their respective products.

Government/Pharmaceutical collusion is one of the most disgusting things about our government.

#12 Jase

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Posted 03 July 2012 - 10:04 AM

i agree. first of all we should do away with patent law, one of the primary obstacles separating the drug industry from the glorious free market. next we should ask drug companies to pinky promise not to take advantage of consumers. drug companies would never sell "cure-all" snake oils because then they'd be breaking their pinky promise. of course that doesn't really matter anyway because the consumer would have the perfect information to make intelligent choices because surely drug manufacturers would never attempt to mislead consumers in a purely free market.

i mean there's no incentive to fill capsules with sugar and market it as a cure for AIDS rather than spend the time, money, and effort to find a cure because uhhhhhhhhhhhh

tl;dr get fuged, free market


I mean, nobody's saying lets get a 100% free market, but why do pharmaceutical companies get their own special patent laws? Why can't they play by the same rules as average inventor Joe?

Big pharma is its disgusting self because the government has created an environment where this type of behavior thrives. It is as simple as that.

#13 cantrell

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Posted 03 July 2012 - 10:11 AM

probably because there's so much money tied up in research and testing. that part is expensive because, despite what venom tells you, the government doesn't want drugs to hit the market that promise to cure the flu but actually cure you of the ability to walk. these companies have to recoup their losses somehow

the real crime is all of the money spent on advertising and bonuses for execs

#14 cantrell

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Posted 03 July 2012 - 10:14 AM

i mean average inventor joe is spending his afternoon creating a tv remote which doubles as a hot sauce dispenser while drug companies spend years, and millions, to develop cures for diseases.

#15 Panthro

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Posted 03 July 2012 - 10:31 AM

i mean average inventor joe is spending his afternoon creating a tv remote which doubles as a hot sauce dispenser while drug companies spend years, and millions, to develop cures for diseases.

sold


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