CNN's Anderson Cooper: Pharmaceutical Fraud - Pfizer 'Too Big To Nail' $2.3 Billion Fine

Too Big To Nail:Show more

But When It Came To Prosecuting Pfizer For Its Fraudulent Marketing, The Pharmaceutical Giant Had A Trump Card: Just As The Giant Banks On Wall Street Were Deemed Too Big To Fail, Pfizer Was Considered Too Big To Nail.

Why? Because Any Company Convicted Of A Major Health Care Fraud Is Automatically Excluded From Medicare And Medicaid. Convicting Pfizer On Bextra Would Prevent The Company From Billing Federal Health Programs For Any Of Its Products. It Would Be A Corporate Death Sentence.

Prosecutors Said That Excluding Pfizer Would Most Likely Lead To Pfizer's Collapse, With Collateral Consequences: Disrupting The Flow Of Pfizer Products To Medicare And Medicaid Recipients, Causing The Loss Of Jobs Including Those Of Pfizer Employees Who Were Not Involved In The Fraud, And Causing Significant Losses For Pfizer Shareholders.

"We Have To Ask Whether By Excluding The Company [From Medicare And Medicaid], Are We Harming Our Patients," Said Lewis Morris Of The Department Of Health And Human Services.

So Pfizer And The Feds Cut A Deal. Instead Of Charging Pfizer With A Crime, Prosecutors Would Charge A Pfizer Subsidiary, Pharmacia & Upjohn Co. Inc.

The CNN Special Investigation Found That The Subsidiary Is Nothing More Than A Shell Company Whose Only Function Is To Plead Guilty.

Date Aired: April 2, 2010, On CNN

🔗 Feds Found Pfizer Too Big To Nail: https://edition.cnn.com/2010/HEALTH/04/02/pfizer.bextra/index.html

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