Monday, October 17, 2005
Serono to Pay $704 Milion for Illegal Marketing of AIDS Drug
Swiss corporation, Serono, S.A., together with its U.S. subsidiaries and related entities, has agreed to pay $704 million to resolve criminal charges and civil allegations in connection with illegal schemes to promote, market and sell its drug, Serostim, the Justice Department announced today. Serostim is used to treat AIDS wasting, a condition involving profound involuntary weight loss in AIDS patients.
Under the settlement, Serono Laboratories has agreed to pay a $136.9 million criminal fine and its affiliate companies a total of $567 million to settle civil liabilities. Today’s global resolution, the third largest health care fraud recovery by the U.S., also ensures that the Medicaid program and each of the state Medicaid agencies which paid for Serostim during the time frame of the investigation, 1996 through 2004, will recoup all monies paid based on Serono’s illegal activity.
The complete story on this award and the action that led to it can be found at www.usdoj.gov.
Posted by Quitam Help Admin on 10/17 at 09:36 AM
Page 1 of 1 pages
Printer Friendly Page