Re: GlaxoKline to Pay $3 Billion in Fraud Settlement

[Guest guest]

$3B in settlement!? Boggles the mind what their profit margin is if they can take a financial hit this large!! That is more than what my company makes in GROSS Revenue!!Seems it is worth it for them to take the risk, amass profits, then pay out pittance to injured parties. This type of irresponsible behaviour should be viewed as CRIMINAL and the appropriate measures taken against the perpetrators. If not, there really is no incentive for Big Pharma to behave and they will continue to play with the lives of innocents! To: miralax Sent: Monday, July 2, 2012 12:58 PM Subject: Re: GlaxoKline to Pay $3 Billion in Fraud Settlement

Oh, if only we could get this for Miralax.

At first glance, this has disturbing similarities to Miralax as a pharmaceutical being promoted for off label use in children. In this day and age of cutting corners and maximizing profits, I don't know how it can be prudent to blindly follow big pharma as if big pharma's interests are aligned with the interests of parents and kids.

WASHINGTON (AP) — The Justice Department says GlaxoKline will pay $3 billion and plead guilty to promoting two popular drugs for unapproved uses and to failing to report important safety data about a diabetes drug to the Food and Drug Administration.

Government officials say it's the largest health care fraud settlement in U.S. history.

Prosecutors say GSK encouraged use of Paxil for children although it was not approved for anyone under 18. The company also promoted Wellbutrin for uses besides major depressive disorder, its only approved use. They say that between 2001 and 2007 GSK failed to report on two studies of the cardiovascular safety of Avandia, a diabetes drug.

Of the penalties, $1 billion covers criminal fines and forfeitures and $2 billion is for civil settlements with the federal and state governments.

http://www.nytimes.com/aponline/2012/07/02/business/ap-us-justice-glaxosmithkline.html