The Perils of Part D
This article was originally published in RPM Report
The Medicare drug benefit means more federal spending on pharmaceuticals-and more oversight of the industry. Two prominent prosecutors are experienced and ready. The first place they will look: contracting between manufacturers and plans and its influence on the formulary selection process.
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Michael Loucks stepped down as acting US Attorney at the end of 2009, after a career that put him at the center of many of the largest health care fraud prosecutions in the pharmaceutical industry. We spoke to him about what happens next, for industry, for prosecutors-and for him.
The Era of Big Pharma Fraud Cases Is Ending, Former US Attorney Loucks Says, But It May Go Out With A Bang
The pace of whistleblower cases against Big Pharma companies is winding down, former prosecutor says. It may not seem that way, with a full pipeline of pending investigations likely to dominate the headlines for months or even years to come, but Big Pharma is finally coming into compliance. This era may end with a bang: Loucks believes there is significant pressure to exclude a corporation for fraud.
Record setting $2.3 billion payment is afterthought in context of Pfizer/Wyeth merger, but the Bextra and recent Zyprexa settlement will have far-reaching implications. In economic terms, the first two cases of 2009 exceed the total recoveries of the last 13 pharma marketing settlements. But the big impact may be political: the cases involve a volatile mix of marketing abuses and drug safety