U.S. says Pfizer unit pleads guilty to kickback
Business Law
Pharmacia and Upjohn Company Inc., a unit of Pfizer Inc. (PFE.N), pleaded guilty to one count of offering a kickback to a pharmacy benefit manager and was sentenced to pay a criminal fine of $19.68 million, federal prosecutors said on Wednesday.
As a result of its conviction, Pharmacia will be excluded permanently from participation in all federal health care programs, prosecutors said.
Pharmacy benefit managers often recommend drugs to health plans. Their list of recommended drugs is called a formulary.
Prosecutors alleged Pharmacia offered the pharmacy benefit manager inflated payments in the amount of $12.3 million.
They also charged that Pharmacia's financial analyses showed the company expected to earn that much or more from the improved formulary positioning and benefits their drugs were expected to receive in return.
Earlier this month, prosecutors said Pharmacia would plead guilty to the charge, pay the fine and be permanently banned from federal health care programs.
Related listings
-
Samsung exec pleads guilty in DRAM scandal
Business Law 04/20/2007[##_1L|1168605596.gif|width="100" height="69" alt=""|_##]A sixth executive from Samsung Electronics Co. Ltd. has agreed to plead guilty to participating in a global conspiracy to fix DRAM prices, the Department of Justice announced. Il Ung Kim, a Kor...
-
Cytochroma settles lawsuit with Genzyme
Business Law 04/18/2007Cytochroma, Inc., a company managed by former employees of Bone Care International, has announced the settling of a lawsuit filed in August 2006 by Genzyme Corp., the company that acquired Bone Care in 2005.The lawsuit, in which Genzyme claimed that ...
-
New York seeks probe of Wal-Mart for surveillance
Business Law 04/11/2007[##_1L|1228556092.jpg|width="100" height="114" alt=""|_##]New York City is seeking a probe of Wal-Mart Stores Inc. (WMT.N: Quote, Profile, Research) over the retailer's reported surveillance of shareholders who submitted proxy petitions that could po...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.