[Pharmwaste] $71 Million Pharmaceutical Settlement = Wrist Slap

Ed Gottlieb 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).
http://www.latimes.com/business/la-fi-amgen-settlement-20150818-story.html

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!
http://www.21alive.com/news/local/Indiana-to-receive-13-million-in-global-pharmaceutical-settlement---322200051.html

Maybe other states will as well.

Ed Gottlieb
Chair, Coalition for Safe Medication Disposal
Industrial Pretreatment Coordinator
Ithaca Area Wastewater Treatment Facility
525 3rd Street
Ithaca, NY  14850
(607) 273-8381
fax: (607) 273-8433
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