Forest Banned from Medicare-WOW!

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Anonymous

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Forest finally getting its due as the motel 6 of pharma. Serves them right. All these years of the used car salesmen forces invaded offices, now its time to pay the piper.

"Forest Laboratories (FRX) is in a pickle.

Chairman and CEO Howard Solomon was told this week that US officials are considering banning him from participating in Medicare and Medicaid -- effectively excluding his company from these programs -- following a settlement last year in a fraud investigation.

In September, Forest agreed to pay $313 million to settle charges filed under the US False Claims Act. The company also plead guilty to obstruction of justice (a felony) and two misdemeanor charges for distributing an unapproved drug (Levothroid) and promoting the antidepressant Celexa to children.
 






i wish that once and for all forest would get what they deserve. this company is known as the number one shady company! clearly others feel the same way or they would not be taking these drastic measures. they claim they will be fighting these charges...hmmmm.....whose gonna get a big pay off? this company makes me SICK!
 






Anonymous said:
Forest finally getting its due as the motel 6 of pharma. Serves them right. All these years of the used car salesmen forces invaded offices, now its time to pay the piper.

"Forest Laboratories (FRX) is in a pickle.

Chairman and CEO Howard Solomon was told this week that US officials are considering banning him from participating in Medicare and Medicaid -- effectively excluding his company from these programs -- following a settlement last year in a fraud investigation.

In September, Forest agreed to pay $313 million to settle charges filed under the US False Claims Act. The company also plead guilty to obstruction of justice (a felony) and two misdemeanor charges for distributing an unapproved drug (Levothroid) and promoting the antidepressant Celexa to children.
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There are 2 ways to stop this from repeating itself; Stop promoting inexperienced 28 year old numbnuts that don't know any other way to grow business or take away the incentives and make field sales/sales management 95% salary. This just might, over time, revert some respect back into the industry.
 






I agree with the previous poster. The bonus structure can no longer be the big or a portion of our pay. Reps/Managers etc... will continue to do anything to get business if this stays the case. How many more $300 million + lawsuits will it take.
 






We've been buying business and every illegal/immoral act we could dig up to get business for years and nothing will change! Buy this for you doc, buy that for you doc, take your family to dinner if you'll talk for 5 minutes! Wine and cheeze baskets! Oh hell that's just the tip of the iceberg...we'd be in real shit if there was a real investigation!
 






Anonymous said:
We've been buying business and every illegal/immoral act we could dig up to get business for years and nothing will change! Buy this for you doc, buy that for you doc, take your family to dinner if you'll talk for 5 minutes! Wine and cheeze baskets! Oh hell that's just the tip of the iceberg...we'd be in real shit if there was a real investigation!
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PLuueze, tell me every other drug company didn't do the same thing? The problem is Forest is too tight with their funds to just pay off the right govt. types and make this all go away. AT least we won't have to worry about memorizign who's medicare eligible, etc.
 






The companies in Phrma are probably the force behind this. Forest wasn't bullied into paying ten million bucks a year to be part of a bs lobbying organization. See opensecrets.org for the lobbying totals of Phrma, all the individual companies, and insurers. This was probably a backhand tactic so that another company could finally successfully take over Forest. Every company has their crap, take it easy righteous ones. We are ALL replaceable.
 






Anonymous said:
PLuueze, tell me every other drug company didn't do the same thing? The problem is Forest is too tight with their funds to just pay off the right govt. types and make this all go away. AT least we won't have to worry about memorizign who's medicare eligible, etc.
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You must not be in the industry very long. Forest did not sign the Pharma Code Guidelines like the other big Pharma's did. That let them do things that the others could no longer get away with. Everyone in this business should know about this, or you should not be in this business if you don't know the details. Too many young, inexperienced people have been hired into the pharma industry and quickly moved into positions of power without any work experience built. This is the type of behavior that follows.
 






So many misconceptions here. All of this was set in motion long before anyone joined PhARMA. Celexa marketing to child psychs, speakers who were child psychs, all in the name of driving share and continuing through lexapro promotion was what led to all of this. Does anyone remember trying to get a child psych off their panel? Was nearly impossible. Now we are being made an example of via Howard as a scare tactic that will probably work. At the launch of celexa, no drug had studies in children, without question a gray area. It should be an eye opener, but it doesnt seem to be with upper management. They are still playing similar games, and with Cymbalta continuing to secure indications, it is only going to get worse as they try and get us to blur the line between pain and fibro.
 






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