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Joined: May 26, 2004 Posts: 1359 Location: London, ON, Canada
Posted: Wed Oct 19, 2005 6:15 pm Post subject: Serono fined!
Serono, the makers of Rebif, have just run into a little bit of trouble with the law in this country. I certainly hope they didn't apply this practice towards Rebif as well!
Harry
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Drugmaker to pay $704M for fraud
WASHINGTON -- The Swiss manufacturer of the AIDS treatment drug Serostim agreed Monday to pay $704 million and plead guilty to scheming to boost sagging sales by, among other things, offering kickbacks to doctors to write prescriptions. As part of the plea, Serono Laboratories will be barred from participating in federal health programs for five years and will pay a criminal fine of $136.9 million and civil penalties of $567 million. The amount is the third largest payment for health care fraud, Attorney General Alberto Gonzales said in announcing the plea agreement.
This settlement applies to Serono Labs, not Serono, Inc. I spoke to a Serono representative and learned that it has no impact on Rebif or the MS business. In my experience, this is a very ethical company (of course, there are a few bad eggs in every company). This incident happened a long time ago and is only in the press right now because it finally got settled.
Joined: May 26, 2004 Posts: 1359 Location: London, ON, Canada
Posted: Wed Oct 26, 2005 9:24 pm Post subject:
Bebe,
Serono Labs is a subsidiary of Serona SA, the parent company. I would think that Serona SA was very aware of what Serono Labs was doing and as the parent, is being held kind of responsible. Here is the link to the complete article which details far more info.
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