[Pharmwaste] $71 Million Pharmaceutical Settlement = Wrist Slap
EGottlieb at cityofithaca.org
Wed Aug 19 09:45:24 EDT 2015
Amgen agrees to pay $71 million dollars to 48 states and the District of Columbia to settle deceptive drug promotion claims. They admit no wrong doing. Note: Sales of the two drugs, during the time that were deceptively promoted (according to prosecutors), amounted to $6.6 billion. Even assuming a low profit margin, this fine amounts to a minor cost of business expense to Amgen. "Amgen shares fell $2.07, or 1.2%, to $167.72. The stock is up about 7% this year." The settlement decision also requires Amgen to be good from now on (my summary).
The good news is that Indiana announced that some of their $1.3 million dollar share of the settlement will be used for take back programs!
Maybe other states will as well.
Chair, Coalition for Safe Medication Disposal
Industrial Pretreatment Coordinator
Ithaca Area Wastewater Treatment Facility
525 3rd Street
Ithaca, NY 14850
fax: (607) 273-8433
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