Cry for Pfizer

[marmar]

:nopity:




Pfizer paying record $2.3B settlement for illegal promotions of 4 prescription drugs

By Devlin Barrett, Associated Press Writer
On Wednesday September 2, 2009, 2:57 pm EDT


WASHINGTON (AP) -- Pfizer Inc., the world's largest drug maker, will pay a record $2.3 billion civil and criminal penalty over unlawful prescription drug promotions.

Announcing the settlement Wednesday, the Justice Department said that it included the largest criminal fine in U.S. history -- $1.2 billion. The agreement also included a criminal forfeiture of $105 million.

Authorities called Pfizer a repeat offender, noting it is the fourth such settlement of government charges in the last decade. They said the government will monitor the company's conduct for the next five years to rein in the abuses.

To promote the drugs, authorities said Pfizer invited doctors to consultant meetings at resort locations, paying their expenses and providing perks.

"They were entertained with golf, massages, and other activities," said Mike Loucks, the U.S. attorney in Massachusetts. ..............(more)

The complete piece is at: http://finance.yahoo.com/news/Pfizer-to-pay-record-23B-apf-1176280604.html?x=0

[Robeysays]

1. :D

:cry:

:D

had to do it.

[Liberal_in_LA]

2. ...

:nopity: :nopity:

[spanone]

3. unlawful prescription drug promotions....it's not enough...how many died because of this?

[marmar]

4. Agreed....It's probably far less than it should be.

And they'll just jack up their prices to recoup it.

[PA Democrat]

5. They are shameless. Check out this quote from the article:

"Loucks said that even as Pfizer was negotiating deals on past misconduct, they were continuing to violate the very same laws with other drugs."

We need to start putting people in prison for these types of crimes or going after their personal assets.

[marmar]

6. Corporate Death Penalty......

nt

[hunter]

9. I agree. With hard prison time for high ranking executives.

That would bring a quick end to this sort of corruption.

[abumbyanyothername]

7. Sigh

"In an unusual twist, the head of the Justice Department, Attorney General Eric Holder, did not participate in the record settlement, because he had represented Pfizer on these issues while in private practice."

And no wonder my GP gave me the Lipitor lecture when I wanted to get some advice on my ear infection. Honestly, Pfizer interferes with my ability to receive medical care because I can't stand going to the doctor and getting the Lipitor lecture when I have told them over 20 times I am not going to take any maintenance drug.

[Horse with no Name]

8. Sad thing is

That they probably made trillions, so what is a few billion between friends?

[Name removed]

10. Deleted message

Message removed by moderator. Click here to review the message board rules.

[marmar]

11. WHAT WAS THE DELETED MESSAGE ?!!!!!

We missed a good pizza party..... :(

[PM Martin]

12. Not enough of a penalty.