Associated Press
Tuesday, October 18, 2005; Page A12
Serono Laboratories agreed yesterday to pay $704 million and plead guilty to federal charges that it conspired to increase the market for the AIDS drug Serostim by offering kickbacks to doctors and manipulating a test for AIDS patients.
Eighty-five percent of prescriptions for Serostim, accounting for roughly $615 million in sales, were unnecessary, said Michael Sullivan, the U.S. attorney in Boston who led a four-year investigation into the marketing of the drug.
The cost of many of those prescriptions, at $21,000 for 12 weeks, was paid by Medicaid and other government insurance plans.
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As part of the plea,
Serono will be barred from federal health programs for five years, although company officials said Serostim and other Serono products will remain eligible for reimbursement under federal insurance programs.
more ...
http://www.washingtonpost.com/wp-dyn/content/article/2005/10/17/AR2005101701870.htmlI'd suggest that in 5 years when Medicaid will pay for this seemingly critical drug, many will have died because they will no longer be able to get the drug. The cost is outrageous! How many on Medicaid can come up with $21,000 for a 12 week supply? Answer: NONE. :grr:
:dem: