Bernie Sanders: Crackdown On Pharmaceutical Fraud

Sen. Bernie Sanders On May 23, 2012, Proposed Tough New Penalties To Combat Rampant Pharmaceutical Industry Fraud.

“Companies That Are Fined For Overcharging Medicare Or Medicaid, Or For Dangerous Illegal Marketing Practices, Should Not Enjoy Government-Granted Monopolies On Those Same Medications,”

The Pharmaceutical Industry Achieved A Dubious Distinction In 2010 When The Dollar Amount Of Fraud Against The Government Surpassed The Notoriously-corrupt Defense Contracting Industry, According To A Public Citizen Study. Drug Makers Accounted For Nearly Half – $1.8 Billion Out Of
$4.1 Billion — Of The Penalties Collected In 2011 By The Health Care Fraud And Abuse Control Program, A Joint Task Force Of The Department Of Justice, And The Department Of Health And Human Services. This Year, Pharmaceutical Companies Are Expected To Pay Up To $9 Billion Under Pending Fraud Settlements, According To Taxpayers Against Fraud.

While The Penalties Are Steep, The Amount Pales In Comparison To The Huge Revenues Generated By Illegal And Fraudulent Practices Such As Off-label Marketing And Price Inflation. The Top-12 Pharmaceutical Companies Made $49.1 Billion In Profits In 2011, With Pfizer Making $10 Billion And Johnson And Johnson Making $9.7 Billion. “The Penalties These Companies Pay When They Are Caught And Prosecuted Simply Aren’t Big Enough To Stop Them From Being Repeat Offenders,”

🔗 The Too-Many-To-List Examples Include: https://www.sanders.senate.gov/press-releases/sanders-crack-down-on-pharmaceutical-fraud/

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