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Sunday, January 20, 2013

Pharmaceutical Company Fraud: Government and Whistleblowers Seek Billions by Texas Pharmaceutical Fraud Whistleblower Lawyer

Pharmaceutical Company Fraud: Government and Whistle-blowers Have Obtained Over $30 Billion From Large Drug Companies And These Numbers Will Increase As Drug Companies Commit Fraud To Obtain Their Share of the Over $800 Billion Drug Industry Annual Revenues by Pharmaceutical Company Fraud Whistleblower Lawyer Jason S. Coomer

State and Federal governments are cracking down are large pharmaceutical companies that commit fraud and violate the law to obtain large drug procurement contracts.  Under the Federal False Claim Act and State Medicaid Fraud Recovery laws, pharmaceutical companies have been forced to pay over $30 Billion in civil and criminal penalties.  This money has been paid to federal and state governments and whistleblowers.  The penalties are drug companies that have committed illegal and fraudulent activities including fraudulent off label drug marketing practices, fraudulent drug marketing, illegal drug kickbacks, and price fixing. 

Billion dollar fines may seem like a large amount of money to pay in fines that would prevent future illegal actions, however, some drug companies are repeat offenders and plan to continue their fraudulent activities because of the large profits that they can make by violating the law.  Some of these companies have determined that the these fines are the price of doing business. The pharmaceutical industry has total annual revenues of over $800 Billion and this global is increasing as the drug industry continue to expand.  Further, with profits for some drugs of over $100 Billion, it can often be worth it for a pharmaceutical company to commit fraud and violate the law to obtain dominance in a market and obtain large public section contracts that translate into large profits.

Government Fines and Whistle-blower Rewards Will Continue to Increase As State and Federal Governments Seek To Reduce Fraud and The Cost of Medical Care

With several repeat offenders and the need to reduce huge public sector medical costs, several governments will continue to raise the fines as well as increase rewards to those that report large scale pharmaceutical company fraud.  Texas currently leads all states in settlements made possible by private-sector whistle-blowers, but the Federal government and numerous other states have also determined the cracking down on pharmaceutical fraud, Medicare fraud, Medicaid fraud, and other forms of health care fraud are important and a politically viable method of reducing public health care costs.

Pharmaceutical marketing representatives and pharmaceutical professionals that are aware of fraudulent off label drug marketing practices, fraudulent drug marketing, illegal drug kickbacks, or price fixing are encouraged to be the first to expose pharmaceutical company fraud.  By the first to file on pharmaceutical company fraud, a whistle-blower can become eligible for a large financial recovery and can avoid potential liability for failing to expose a know crime.

If you are aware of a pharmaceutical company that is committing pharmaceutical company fraud and would like to confidentially have your potential case reviewed, please feel free to contact Pharmaceutical Company Fraud Whistleblower Lawyer Jason Coomer via e-mail message or please feel free to go to the following web pages on this topic: Whistle-blower Reward Lawsuits, Health Care Fraud Whistle-blower Lawsuits, Pharmaceutical Marketing Fraud Lawsuits, and Hospital Formulary Drug Fraud Lawsuits & Off Label Marketing Fraud Lawsuits

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