Democracy Now: Report: Payments to Settle Fraud by U.S. Drugmakers Have Doubled in 2012

A new report finds U.S. drugmakers have paid $6.6 billion dollars in penalties and fees to settle fraud allegations this year, already doubling what they paid last year. The advocacy group Public Citizen said the increased fees and penalties are still not enough to make a dent in drug company profits or to curb alleged behavior ranging from overcharging Medicare to encouraging the prescription of drugs for unsanctioned uses. In July, GlaxoSmithKline settled for a record $3 billion over fraud charges, including allegations it failed to report key safety data on a diabetes drug linked to heart risks.

~ by wheresthemic on September 28, 2012.