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AG announces settlement with GlaxoSmithKline

  Colorado will be part of a 37-state, $90 million settlement with GlaxoSmithKline to resolve allegations that the drug manufacturer unlawfully promoted Avandia, a diabetes medication. Under the settlement, announced by Attorney General John Suthers, the state will receive $1.9 million in funds because the pharmaceutical company did not disclose all the medication’s negative side… Continue Reading AG announces settlement with GlaxoSmithKline

Pfizer 3Q profit down 70 percent due to charges

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Pharmaceutical giant Pfizer Inc. said Tuesday that revenue in the third quarter jumped 39 percent due to its acquisition of fellow drugmaker Wyeth, but hefty charges related to that $68 billion purchase dragged its profit down 70 percent. The New York-based maker of cholesterol blockbuster Lipitor and impotence pill Viagra says net income was $866… Continue Reading Pfizer 3Q profit down 70 percent due to charges

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WASHINGTON (AP) – As federal regulators take their first tentative steps toward policing the wild west of medical information online, pharmaceutical companies are pressing their case to market drugs via Google, Twitter and other Web sites. The Food and Drug Administration will convene a two-day meeting beginning Thursday to hear the drug industry’s position on… Continue Reading Drug industry presses FDA to allow more online ads

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Four pharmaceutical manufacturers have paid the state $3 million to settle claims they improperly marketed drugs and paid kickbacks to health care professionals in return for prescribing their products. Each of the four settlements stem from the damage these schemes caused to Colorado’s Medicaid program. “Colorado’s Medicaid program provides essential health services to the neediest… Continue Reading Pharm companies pay up to settle marketing-scheme allegations

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Colorado will receive more than $376,000 as part of a $95.5 million global settlement with Aventis Pharmaceuticals. The agreement resolves allegations that between 1995 and 2000, Aventis and its corporate predecessors knowingly misreported best prices for the steroid-based anti-inflammatory nasal sprays Azmacort, Nasacort and Nasacort AQ. Under the agreement, state Medicaid programs throughout the country… Continue Reading Colorado will receive a share of a $95.5 million pharmaceutical settlement

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