Saturday, August 23, 2003

Health care industry's federal fines at record pace.

According to a Wall Street Journal article reprinted in today's St. Lous Post-Dispatch, "[i]n the last three fiscal years, the government has amassed $4.21 billion in fines, settlements and restitution payments from its health-care probes, well more than the $3.29 billion it collected in the previous 10 years combined":
This year, the federal government is poised to collect more than $2 billion in payments from HCA Inc., Abbott Laboratories, AstraZeneca PLC, Bayer AG, Guidant Corp., GlaxoSmithKline PLC, Tenet Healthcare Corp. and Pfizer Inc.

More settlements are expected. Schering-Plough Corp. anticipates more than $150 million in liability from investigations by U.S. attorneys in Boston and Philadelphia into alleged marketing violations. Fred Hassan, who took over as Schering-Plough's chief executive in April, has said that he's holding "constructive dialogue" with the prosecutors and that he's ready to settle the issue.
This would be a good time to invest in a law firm with a good white-collar and complex civil practice . . . .
posted by tommayo, 11:54 AM

Health care law (including public health law, medical ethics, and life sciences), with digressions into constitutional law, poetry, and other things that matter