Pharmaceutical Marketing Abuses: A Conversation With Dr. Adriane Fugh-Berman (July 10, 2013)
www.thehealthcarepolicypodcast.com
Listen Now Recently the French government fined Sanofi $53 million for what it called a smear campaign against a competitor drug manufacturer. Ranbaxy was fined $500 million, in part, for making false statements to the FDA. Last year the pharamaceutical industry in sum paid out $5.5 billion to resolve fraudulent marketing practices. These included $3 billion in fines against GlaxoSmithKline (GSK) and $762 million against Amgen. When these settlements were reached eight of the top 10 global pharmaceutical companies were under "corporate integrity agreements" (that require companies to report compliance activities via an independent monitor for five years). With governments recouping only a portion of drug company profits via these marketing practices many say pharma simply views the fines as a cost of doing business. (The day the GSK fine was announced, the largest of its kind in history, GSK's stock price actually closed up).
Pharmaceutical Marketing Abuses: A Conversation With Dr. Adriane Fugh-Berman (July 10, 2013)
Pharmaceutical Marketing Abuses: A…
Pharmaceutical Marketing Abuses: A Conversation With Dr. Adriane Fugh-Berman (July 10, 2013)
Listen Now Recently the French government fined Sanofi $53 million for what it called a smear campaign against a competitor drug manufacturer. Ranbaxy was fined $500 million, in part, for making false statements to the FDA. Last year the pharamaceutical industry in sum paid out $5.5 billion to resolve fraudulent marketing practices. These included $3 billion in fines against GlaxoSmithKline (GSK) and $762 million against Amgen. When these settlements were reached eight of the top 10 global pharmaceutical companies were under "corporate integrity agreements" (that require companies to report compliance activities via an independent monitor for five years). With governments recouping only a portion of drug company profits via these marketing practices many say pharma simply views the fines as a cost of doing business. (The day the GSK fine was announced, the largest of its kind in history, GSK's stock price actually closed up).