Abbott To Pay $1.6 Billion Over Illegal Marketing

Abbott Laboratories said it reached an agreement with the federal government and most states to pay $1.6 billion in connection with its marketing of the anti-seizure drug Depakote.

Senh: Dang, the four whistle-blowers will get nearly $100M from that settlement. If you work for a huge corporation dabbling in illegal activities, blow the whistle on them - you can be a multi-millionaire if you're successful.

Sections:  news   business   
  • Abused disabled Iowa plant workers awarded $240M
    A Texas company has been ordered to pay 32 mentally disabled workers $240 million in damages for what government lawyers described as years of around-the-clock abuse. More
  • Cancer Physicians Attack High Drug Costs
    More than 100 cancer specialists have banded together to persuade pharmaceutical companies to bring prices down, suggesting that the high prices for medicine needed to keep someone alive is profiteering. More
  • Swedish police find drugs on Bieber tour bus
    The latest chapter in Justin Bieber's European tour escapade was added Thursday when Swedish police said they had found drugs and a stun gun on the pop singer's bus. Lars Bystrom, spokesman for the Stockholm police, told The Associated Press a small amount of drugs and a stun gun were discovered during a search of the bus, which had been parked under the Globen concert venue in Stockholm, where Bieber was performing Wednesday. More
  • News Corp settles phone hacking case
    News Corp reaches a $139m (£91m) settlement with shareholders over complaints filed in relation to the UK phone hacking scandal. More
  • DealBook: Mortgage Relief Checks Go Out, Only to Bounce
    Relief checks issued as part of a settlement over foreclosure abuses have bounced, an unfortunate twist for consumers who have already faced problems over reviews of troubled mortgage loans. More
  • Democrats announce deal to fund government as shutdown looms: Here's what we know about where things stand
    Any serious objection to a funding measure in either chamber of Congress will delay passage, forcing a shutdown.
    12/1/2021 - 9:30 am | View Link
  • Other People’s Mail: Israel Can Afford to Pay For The Iron Dome
    For more than 39 years, the Washington Report on Middle East Affairs has been essential reading for the nation’s most sophisticated populace. Our readers rely on us for the most comprehensive, ...
    11/30/2021 - 1:17 am | View Link
  • Expo 2020's workers face hardships despite Dubai's promises
    Intent on making a flawless impression as the first host of the world's fair in the Middle East, Dubai sought to leave nothing to chance. It poured billions of ...
    11/29/2021 - 3:10 am | View Link
  • Nigeria plans to stop ‘$9 billion annual loss’ through proposed Kano gold market
    Despite its potential to catalyse the nation’s economy for growth and development, it has been a sad tale of resource-curse for gold with its mining characterised by violence, smuggling, abductions an ...
    11/27/2021 - 5:38 am | View Link
  • 67% of illegal migrants in US are from Mexico and Central America
    A reported released Tuesday by several non-profit agencies revealed that Mexicans make up 48 percent percent of the undocumented immigrant population in the United States.
    11/25/2021 - 4:14 am | View Link
  • More
  • Abbott Laboratories
    Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois, United States.The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs; today, it sells medical devices, diagnostics, branded generic medicines and nutritional products. It split off its research-based pharmaceuticals ...
    12/3/2021 - 4:34 am | View Website
  • Texas Gov. Greg Abbott responds to criticism he’s not ...
    In August, Abbott asked for money so DPS could burn through $1.7 million a week to pay overtime to 1,000 troopers assigned to Operation Lone Star, the border effort Abbott launched in March.
    12/3/2021 - 1:07 am | View Website
  • Abbott Laboratories – Products, History, Lawsuits and Recalls
    Abbott wanted to focus on heart stents and other medical devices. AbbVie’s main concentration is biologic drugs. Abbott acquired St. Jude Medical and Alere Inc. in 2017. It paid more than $28 billion for both companies. Abbott wanted to expand its reach and boost its diagnostics presence in the U.S. and worldwide.
    12/3/2021 - 12:45 am | View Website
  • List of largest pharmaceutical settlements
    The following is a list of the 20 largest settlements reached between the United States Department of Justice and pharmaceutical companies from 1991 to 2012, ordered by the size of the total settlement. The settlement amount includes both the civil (False Claims Act) settlement and criminal fine.
    12/2/2021 - 2:41 am | View Website
  • Big Pharma’s Big Fines
    Abbott. May 2012. Abbott was fined $1.5 billion in connection to the illegal promotion of the antipsychotic drug Depakote. Abbott admitted to having trained a special sales force to target nursing homes, marketing the drug for the control of aggression and agitation in elderly dementia patients.
    12/1/2021 - 9:16 am | View Website
  • More

Comment On This Story

Welcome to Wopular!

Welcome to Wopular

Wopular is an online newspaper rack, giving you a summary view of the top headlines from the top news sites.

Senh Duong (Founder)
Wopular, MWB, RottenTomatoes

Subscribe to Wopular's RSS Fan Wopular on Facebook Follow Wopular on Twitter Follow Wopular on Google Plus

MoviesWithButter : Our Sister Site

More Business News