Sounds like the system worked.
http://news.yahoo.com/glaxosmithklin...--finance.htmlGlaxoSmithKline 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."
Sounds like the system worked.
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
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
Drop in the bucket.
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.
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.
Know what else helps with that? A joint.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).
Does a joint have these side effects?
sleepiness or feeling ''drugged''
changes in ability to taste food
weight loss or gain
changes in sex drive or ability
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
sore teeth and gums
painful or irregular menstruation
seeing things or hearing voices that do not exist (hallucinating)
rapid, pounding, or irregular heartbeat
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
swelling of the face, throat, tongue, lips, eyes, hands, feet, ankles, or lower legs
black and tarry stools
red blood in stools
vomit that looks like coffee grounds
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
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...
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.
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".
Suffice to say, I've never taken anything close to a "no regulation" position, now or ever.
Hands off does not mean "no regulation", first.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.
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.
Riiiiight.Something guys like you dont seem to mind as long as it means "less of that scary government".
I am SOOOOO for GSK killing babies and roasting them in FIRE!!! FIREEEEEEEEE!!!!!
Lol, Ken you never cese to entertain.