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Abbott to Pay $1.5 Billion over Depakote

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Abbott Laboratories has plead guilty to promoting the anti-seizure drug Depakote for uses that were not approved by the U.S. Food and Drug Administration. Abbott will pay over $1.5 billion including civil settlements with the various states and the federal government in the amount of $800 million, as well as criminal fines and forfeiture in the amount of $700 million.

The Associated Press reports that Deputy Attorney General James Cole said the settlement shows the that the government was determined to “hold accountable those who commit fraud.”

Abbott admitted marketing the drug for unapproved uses, and that it trained a specialized sales reps to promote the drug as a treatment for dementia. Court filings say the company also marketed the drug as a treatment for schizophrenia.

The company reportedly said it was pleased that the matter has been resolved. Abbott agreed to terms of the settlement which include that it will be under five years of probation, in which the company must not repeat the misconduct.

U.S. Attorney for the Western District of Pennsylvania Timothy Heaphy said that the company engaged in the rogue marketing practices from 1998 to 2006.

 

breakinglawsuitnews.com disclaimer: This article: Abbott to Pay $1.5 Billion over Depakote was posted on Wednesday, May 9th, 2012 at 2:02 am at breakinglawsuitnews.com and is filed under Defective Drug Lawsuits.

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