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Pharmaceutical

Abbott Subsidiary Reaches $41 Million Settlement

December 08, 2010
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According to the Associated Press, a subsidiary of Abbott Laboratories has agreed to pay more than $41 million to settle allegations that it paid illegal kickbacks to get doctors, physician groups and managed care organizations to prescribe or recommend two of the company''s drugs, Advicor and Niaspan. The Justice Department said that Delaware-based Kos Pharmaceuticals also promoted the sale of Advicor for purposes not approved by the Food and Drug Administration. Advicor is for the treatment of cholesterol. Niaspan improves cholesterol levels. As part of the settlement, Kos agreed to the filing of a criminal information in Louisiana alleging the company conspired to pay kickbacks to two physicians to endorse Kos products including Advicor.

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