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Thread: GSK

  1. #1

    GSK

    Ouch


    [QUOTE]GlaxoSmithKline settles healthcare fraud case for $3 billion

    WASHINGTON (Reuters) - GlaxoSmithKline Plc has agreed to plead guilty to misdemeanor criminal charges and pay $3 billion to settle the largest case of healthcare fraud in U.S. history.

    The settlement includes $1 billion in criminal fines and $2 billion in civil fines in connection with the sale of the drug company's Paxil, Wellbutrin and Avandia products, according to filings in federal court on Monday.

    Deputy U.S. Attorney General James Cole said at a news conference in Washington that the settlement "is unprecedented in both size and scope."

    As part of the settlement, GlaxoSmithKline agreed to strict oversight of its sales force by the U.S. government to prevent the use of kickbacks or other prohibited practices.

    GSK said in a statement it would pay the fines through existing cash resources. The company announced a $3 billion charge in November related to legal claims.

    Chief Executive Andrew Witty said GSK's U.S. unit has "fundamentally changed our procedures for compliance, marketing and selling. When necessary, we have removed employees who have engaged in misconduct."[/QUOTE]

    [url]http://news.yahoo.com/glaxosmithkline-settles-fraud-charges-3-billion-144748923--finance.html[/url]

  2. #2
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    Sounds like the system worked.

  3. #3
    [QUOTE=Warfish;4505610]Sounds like the system worked.[/QUOTE]

    The govt system, right? ;)

  4. #4
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    [QUOTE=cr726;4505612]The govt system, right? ;)[/QUOTE]

    The legal system.

    If the Govt. system had worked, the regulators would have caught and stopped this sooner, long before it became a 3 billion dollar issue. After all, Pharma is (like Oil and Healthcare) one of our most strenuously regulated industries around.

    But I'm not up to speed yet on the details of the case, so :dunno:

  5. #5
    The legal system is run by?

    [QUOTE=Warfish;4505616]The legal system.

    If the Govt. system had worked, the regulators would have caught and stopped this sooner, long before it became a 3 billion dollar issue. After all, Pharma is (like Oil and Healthcare) one of our most strenuously regulated industries around.

    But I'm not up to speed yet on the details of the case, so :dunno:[/QUOTE]

  6. #6
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    [QUOTE=cr726;4505618]The legal system is run by?[/QUOTE]

    One branch of the Federal Government, State Governments and Local/County Governments.

    Same as law Enforcement, actually.

    But you knew that.

    Let me guess, planning to paint me as an against-all-authorities anarchist because I find fault with many aspects of our current governence?

    Have fun. /shrug

  7. #7
    Not at all.

    [QUOTE=Warfish;4505636]One branch of the Federal Government, State Governments and Local/County Governments.

    Same as law Enforcement, actually.

    But you knew that.

    Let me guess, planning to paint me as an against-all-authorities anarchist because I find fault with many aspects of our current governence?

    Have fun. /shrug[/QUOTE]

  8. #8
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    Drop in the bucket.

  9. #9
    [QUOTE=DDNYjets;4505659]Drop in the bucket.[/QUOTE]

    That makes it ok.

  10. #10
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    [QUOTE=cr726;4505662]That makes it ok.[/QUOTE]

    No.

    They got caught. Paid the penalty. Time to move on.

    Unless there is some ulterior motive or innuendo to the post.

  11. #11
    Clearly a case where government oversight and regulations did something good.
    A great example of why more regulation and not less is needed to keep the free market in check.

  12. #12
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    [QUOTE=kennyo7;4505788]...more regulation...[/QUOTE]

    Such as?

  13. #13
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    [QUOTE=kennyo7;4505788]Clearly a case where government oversight and regulations did something good.
    A great example of why more regulation and not less is needed to keep the free market in check.[/QUOTE]

    Insert facepalm here

  14. #14
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    One of the things that they were fined for was for pushing Paxil on teens when it was only approved for adults.

    Sad that even some corner drug dealers have more couth then a large company.

    [QUOTE]Paroxetine tablets (Paxil), are used to treat depression, panic disorder (sudden, unexpected attacks of extreme fear and worry about these attacks), and social anxiety disorder (extreme fear of interacting with others or performing in front of others that interferes with normal life). [/QUOTE]

    Know what else helps with that? A joint.


    Does a joint have these side effects?

    [QUOTE]headache

    dizziness

    weakness

    difficulty concentrating

    nervousness

    forgetfulness

    confusion

    sleepiness or feeling ''drugged''

    nausea

    vomiting

    diarrhea

    constipation

    gas

    stomach pain

    heartburn

    changes in ability to taste food

    decreased appetite

    weight loss or gain

    changes in sex drive or ability

    dry mouth

    sweating

    yawning

    sensitivity to light

    lump or tightness in throat

    pain in the back, muscles, bones, or anywhere in the body

    tenderness or swelling of joints

    muscle weakness or tightness

    flushing

    sore teeth and gums

    unusual dreams

    painful or irregular menstruation

    blurred vision

    seeing things or hearing voices that do not exist (hallucinating)

    fainting

    rapid, pounding, or irregular heartbeat

    chest pain

    difficulty breathing

    seizure

    fever, sweating, confusion, fast or irregular heartbeat, and severe muscle stiffness or twitching

    abnormal bleeding or bruising

    tiny red spots directly under the skin

    peeling or blistering of skin

    sore throat, fever, chills, cough, and other signs of infection

    uncontrollable shaking of a part of the body

    unsteady walking that may cause falling

    sudden muscle twitching or jerking that you cannot control

    numbness or tingling in your hands, feet, arms, or legs

    difficult, frequent, or painful urination

    swelling, itching, burning, or infection in the vagina

    painful erection that lasts for hours

    sudden nausea, vomiting, weakness, cramping, bloating, swelling, tightness in hands and feet, dizziness, headache and/or confusion

    hives

    skin rash

    itching

    swelling of the face, throat, tongue, lips, eyes, hands, feet, ankles, or lower legs

    hoarseness

    black and tarry stools

    red blood in stools

    bloody vomit

    vomit that looks like coffee grounds[/QUOTE]


    Just wow.

  15. #15
    [QUOTE=PlumberKhan;4505894]Sad that even some corner drug dealers have more couth then a large company.
    [/QUOTE]

    I don't really have a horse in this race...

    I simply refuse to take any medicine... I'm sure one day I'll need it but at that point, I will not have built up a fargin' immunity to things that can help cure me :cool:

    But I know what I was getting when I wasn't an over the counter user... Death... Death in pill/powder/liquid form...

    I'd feel the same way if I medicated with legal prescriptions...

  16. #16
    [QUOTE=Warfish;4505791]Such as?[/QUOTE]
    see article above

  17. #17
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    [QUOTE=kennyo7;4505930]see article above[/QUOTE]

    The one in the OP? Does a news story on a current event also suggest additional new regulation you (Ken) thinks should exist?

    Wow, thats one heck of a news article writer.:eek:

  18. #18
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    You need to do some really amoral/illegal stuff to incur $3,000,000,000 in fines. I suppose people can be apathetic to fine amounts nowadays, but that number is indicative of some heinous sh!t being done. Still, as DDNY noted, it's a drop in the bucket and the company is free to continue selling their product.

  19. #19
    [QUOTE=Warfish;4505942]The one in the OP? Does a news story on a current event also suggest additional new regulation you (Ken) thinks should exist?

    Wow, thats one heck of a news article writer.:eek:[/QUOTE]

    No
    It suggests that no regulations, as you would like to see is a recipe for disaster. See, a hands off approach to the free market leads to profits for a few, even if it means using corrupt means to achieve those goals at the expense of many. Something guys like you dont seem to mind as long as it means "less of that scary government".

  20. #20
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    [QUOTE=kennyo7;4505991]No
    It suggests that no regulations, as you would like to see is a recipe for disaster.[/quote]

    You still mad I pointed out that you have a dislike for Israel?

    Suffice to say, I've never taken anything close to a "no regulation" position, now or ever.

    [QUOTE]See, a hands off approach to the free market leads to profits for a few, even if it means using corrupt means to achieve those goals at the expense of many.[/QUOTE]

    Hands off does not mean "no regulation", first.

    Hands off does not mean free from criminal responsabillity, second.

    Hands off does not mean allowing wrongdoing to continue.

    Hands off, which I generally don't use, is a biased version of what I DO use.

    Less, more concice, more effective, more enforced regulation.

    If that means "no regulation", well, I guess we're speaking different languages then. :dunno:

    [quote]Something guys like you dont seem to mind as long as it means "less of that scary government".[/QUOTE]

    Riiiiight.:rolleyes:

    I am SOOOOO for GSK killing babies and roasting them in FIRE!!! FIREEEEEEEEE!!!!!

    Lol, Ken you never cese to entertain.

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