Tag Archive for ‘Drugs’
Big Pharma has written more than $30 billion in checks in the last 10 years to resolve government allegations of illegal marketing, according to consumer watchdog group Public Citizen. Yet those sums are essentially petty cash for the drug giants, says Public Citizen, amounting to less than 5 percent of the net profits raked in by the 11 largest global pharmaceuticals firms over a similar period.
Following an investigation by ProPublica of payments made by drug companies to doctors, some of the nation’s top medical schools last year cracked down on professors who give paid promotional talks for drugmakers. The firms themselves cut back on such spending in the wake of mounting scrutiny.
At least 15 drug and medical-device companies have paid $6.5 billion since 2008 to settle accusations of marketing fraud or kickbacks. However, none of the more than 75 doctors named as participants were sanctioned, despite allegations of fraud or of conduct that put patients at risk, a review by ProPublica found.
GlaxoSmithKline and a subsidiary agreed to pay $750 million to settle charges that between 2001 and 2005 they distributed adulterated drugs made at GSK’s now-closed manufacturing facility in Cidra, Puerto Rico. U.S. authorities said a corporate whistleblower who had filed a lawsuit against GSK under provisions of the U.S. False Claims Act will receive approximately $96 million from the federal share of the settlement.
The Access to Medicine Index seeks to rank pharmaceutical companies based on their efforts “to enhance global access to medicines.” The report cited particular problematic medical areas including a need for new pharmaceutical products to address neglected tropical diseases and the lack of viable markets for pediatric HIV/AIDS drugs.