From the 3/1 Show – Billions in Fines – Business as Usual – No Jail Time

Last Sunday night had a discussion prompted by the recent disclosure that the drug company AstraZeneca failed to publicize results concerning their drug Seroquel in at least three clinical trials that included gaining weight which could be a factor in developing diabetes. AstraZeneca is presently facing 15,000 lawsuits in which patients claim the company withheld information from them.
I am assuming another major fine is awaiting another drug company that pertains to wrongful marketing and the willful disregard for many patients safety. Forest Laboratories last week was also accused of illegally marketing the antidepressants Celexa and Lexapro. Within the last few years we have witnessed Bristol Myers Squibb, Eli Lilly, Purdue Pharma, Pfizer, and Cephalon pay out billions of dollars in fines for the misrepresentation of their products. Another billion in combined fines awaiting AstraZeneca and Forest is not unfathomable.
Although the billions in fines may sound like a lot, the reality is that it is small compared to the profit’s the drugs in question have brought to the drug companies. It appears that “fines have become a cost of doing business” for too many of the drug companies. On the radio show, I maintain that jail time is a more appropriate penalty than demanding “green” from the drug companies. The only green in the penalties should be the color of the prison stripes for the drug company executives who display no conscience.