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BAD BUSINESS: Abbott Laboratories to Pay $1.6 Billion Over Misbranding Drug

Business  (tags: health, healthcare, government, Big Pharma, Abbott Labs, investigation, protection, abuse, business, corruption, corporate, abuse, government, news, marketing, ethics, dishonesty )

- 2208 days ago -
Abbott Laboratories has pleaded guilty and agreed to pay $1.6 billion to resolve its criminal and civil liability arising from the company's unlawful promotion of the prescription drug Depakote, the U.S. Justice Department said

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wolfNoFwdsPls a (135)
Tuesday May 8, 2012, 4:06 am
impressive: pay $1.6 billion
even more impressive: earned about $13 billion from Depakote sales
still good profit, isn't it ?
and, of course, none of the persons responsible for the crime convicted of anything, not even charged of anything, I'd guess, or was even one ?


Past Member (0)
Tuesday May 8, 2012, 4:46 am

Robert O (12)
Tuesday May 8, 2012, 10:40 am
Shame on them. Thanks Cal.

Cecily P (4)
Tuesday May 8, 2012, 10:42 am
Ouch! Bad news!!

Aimee A (177)
Tuesday May 8, 2012, 10:56 am
If this is the third-largest fraud settlement against the government in any field, then why does the government receive about $560 million from the civil settlement? The total expected to be divided among all 50 states is about $240 million, so how do they figure that this is a settlement against the government. It sounds to me like this is a settlement for the government, since they are getting way over half of the settlement amount! That is way too unfair! Thanks for posting!

John B (185)
Tuesday May 8, 2012, 10:57 am
Good for the DOJ. Thanls for the great news Cal.

Gwynethrose F (12)
Tuesday May 8, 2012, 11:26 am
The biggest surprise about this article is that it really isn't a surprise anymore...the pharmaceutical companies lie, cheat and steal each and every dollar they can.

Ellen m (215)
Tuesday May 8, 2012, 11:35 am
We need to learn so much more about natural medicines as these drug companies are going to kill us!

Kenneth L (314)
Tuesday May 8, 2012, 11:40 am
Not surprising but as Wolf A. points out they make 13 billion selling it illegally and the fine was 1.6 billion. Absolutely worth it for them. Not a deterrent.
In fact as one ex-pharma sales rep pointed out the drug companies keep a kitty for paying out fines with that they know are probably inevitable.
Oh and don't forget all the people (elderly in this case) whose lives have been worsened now with side-effects and possibly worse---but does Big Pharma care about the human cost? Again as an ex-drug rep said, they also expect various deaths to occur too.

Sometimes I wonder if it's just a big PR show for the FDA and Big Pharma to give the illusion they're applying 'justice'.

Daniel H (0)
Tuesday May 8, 2012, 12:04 pm
Reg-Abbott labs off-label promotion of Depakote.
I took Depakote for 6 years was ineffective for my condition PTSD,the doctor kept telling me to take it.
The saga of the schizophrenia drugs is one of incredible profit.Eli Lilly made $65 BILLION on Zyprexa franchise. Described as *the most successful drug in the history of neuroscience*.
There is a whole underclass block of our society,including children in foster care that are the market for these drugs,but have little voice of protest if harmed by them.
--Daniel Haszard FMI Google-Haszard Zyprexa

Nicole W (646)
Tuesday May 8, 2012, 4:25 pm
noted, shaking my head again Cal.

Past Member (0)
Tuesday May 8, 2012, 5:03 pm

Mary Donnelly (47)
Tuesday May 8, 2012, 5:25 pm
Thanks Cal.

Past Member (0)
Tuesday May 8, 2012, 6:33 pm

Quanta Kiran (67)
Wednesday May 9, 2012, 3:12 am

Tom C Sullivan (98)
Wednesday May 9, 2012, 1:29 pm
sad to think that they have made a poop load of money off this drug, and we are suppose to trust them & the FDA

Nelson Baker (0)
Wednesday May 9, 2012, 5:06 pm
I don't trust drug companies and their prescription drugs. I take a lot of vitamins and supplements but I just don't trust prescription drugs. After all they quite often in their promotions to the public state that taking the drug may also result in death.

Barbara Tomlinson (431)
Thursday May 10, 2012, 1:02 pm
And how many actual lives have been ruined? Maybe lives prematurely ENDED?
For 11.4 BILLION in Profit$$$$$??

{That's 13 BILLION minus the "paltry" fine of 1.6 BILLION.}

Barbara Tomlinson (431)
Thursday May 10, 2012, 1:12 pm
"The company wound up giving millions of dollars in rebates to pharmacists at long-term-care facilities that were based on increases in the use of the drug in nursing homes they serviced, the news release said."

In other words, people at these facilities HAD LITTLE OR NO CHOICE OVER WHETHER OR NOT THEY WOULD TAKE THE DRUG.
So, reserving the right to choose or not choose to take Prescription Drugs for yourself, DOES NOT TAKE CARE OF THE PROBLEM. If Grandma in the Nursing Home was getting "treated" with this, NEITHER YOU NOR SHE MIGHT EVEN KNOW.

And, apparently, NO STUDIES AT ALL HAVE BEEN DONE as to whether this FRAUD actually hurt anybody or even killed anybody. "Oh, they just died of 'natural causes.'" It stands to reason that a powerful, mind-altering Drug WOULD have some CONSEQUENCES.....!!!!!!!!!!!
Suicides? Depression? Shortening of life? Combinations with other drugs? Nah, let's just not open that Can of Worms......


Kari Knabe (14)
Tuesday May 15, 2012, 1:59 pm
Thanks for the info!!
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