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Around 25% of India's drugs are fake, counterfeit or substandard. If the fake drugs market grows at the current rate of 25%, it will cross the US$10 billion mark by 2017. Trade in fake drugs is driven caused by lack of adequate regulations, shortage of drug inspectors and a lack of lab facilities to check the purity of drugs.
For example, in just five hours the drug ring was able to send out 18,500 fake prescriptions across 18 different states, according to the Associated Press.
The following are settlements reached with US authorities against pharmaceutical companies to resolve allegations of "off-label" promotion of drugs. Under the Federal Food, Drug, and Cosmetic Act, it is illegal for pharmaceutical companies to promote their products for uses not approved by the Food and Drug Administration (FDA), and corporations that market drugs for off-label indications may ...
During a counterfeit bust in New York in 2007, federal police, with the help of local Private Investigator Ray Dowd, seized $200 million in fake designer clothing, shoes, and accessories from one of the largest-ever counterfeit smuggling rings. Labels seized included Chanel, Nike, Burberry, Ralph Lauren and Baby Phat. Counterfeit goods are a ...
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Off-label promotion Depakote: False Claims Act, FDCA 2009 Eli Lilly [9] $1.4 billion Off-label promotion Zyprexa: False Claims Act, FDCA 2001 TAP Pharmaceutical Products [10] $875 million Medicare fraud, kickbacks Lupron: False Claims Act, Prescription Drug Marketing Act: 2012 Amgen [11] $762 million Off-label promotion, kickbacks Aranesp ...
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