Last week, the Department of Justice Announced a record $1.5 Billion settlement with Abbott Laboratories over their mislabeling of the drug Depakote. "Global Health Care Company Abbott Laboratories Inc. has pleaded guilty and agreed to pay $1.5 billion to resolve its criminal and civil liability arising from the company’s unlawful promotion of the prescription drug Depakote for uses not approved as safe and effective by the Food and Drug Administration (FDA), the Justice Department announced today. The resolution – the second largest payment by a drug company – includes a criminal fine and … [Read more...]
State attorneys general tackle mortgage servicing
From the Washington Post By Brady Dennis, Thursday, March 17, 9:00 PM State attorneys general, who soon will enter settlement talks with the nation’s largest mortgage servicers after revelations of flawed foreclosure paperwork and other shoddy practices, will accept nothing less than wholesale changes to the way those companies treat troubled homeowners, the group’s leader said Wednesday. “We're trying to shift the servicing industry from [being] a dysfunctional one to a functional one,” Iowa Attorney General Tom Miller, who’s heading up the 50-state coalition, said in an interview. “If … [Read more...]
AstraZeneca and Seroquel Suits
from Bloomberg.Com AstraZeneca Said to Pay $150 Million to Settle About 6,000 Seroquel Suits AstraZeneca Plc agreed to pay $150 million to settle more lawsuits claiming its antipsychotic drug Seroquel causes diabetes, pushing the amount the drugmaker has paid to resolve cases over the medicine to almost $350 million, people familiar with the accords said. AstraZeneca, the U.K.’s second-biggest drugmaker, will resolve about 6,000 cases alleging the company knew Seroquel could cause diabetes and failed to adequately warn patients, two people familiar with the settlements said. They spoke on … [Read more...]