Omnicare Agrees to Pay Close to $100 Million To Settle Case with Justice Department – Paying and Receiving Kickbacks From Ivax a
Posted Nov 03 2009 10:01pm
One of the companies accused in the case of providing kickbacks was Johnson and Johnson in their marketing of Risperdal. In addition $8 million in kickbacks from drug manufacturer IVAX in exchange for an agreement to purchase $50 million dollars worth of drugs. With Risperdal coming off of patent that somewhat will make less expensive generics available for seniors. The company admitted no wrong doing, but shelled out quite a bit of money in doing so. BD
Omnicare offers services primarily for seniors, list below from the website:
Omnicare Senior Pharmacy Services Advanced clinical programs and comprehensive pharmaceutical care distinguish our pharmacy services.
Omnicare Geriatric Pharmaceutical Care Guidelines A unique, clinically based drug formulary used to determine the most appropriate medication therapy for the elderly.
Omnicare Clinical Programs Our programs aid in both the early detection and treatment of illness among seniors.
Omnicare Senior Health Outcomes Managing pharmaceutical care on behalf of major corporations for retirees and employees.
Omnicare Information Solutions The nation's largest provider of clinical and financial software to long-term care facilities.
Omnicare Clinical Research Partnering with drug manufacturers to help develop new drugs that safely and affordably enhance the quality of life.
Omnicare PBM Plus A pharmacy benefit management company focused on creating cost effective solutions for our clients.
CBS) As members of Congress debate healthcare reform - most would agree to a crackdown on those who cheat the system. At least $68 billion is lost to health care fraud every year - and that's considered a conservative estimate. CBS News chief investigative correspondent Armen Keteyian has more on a staggering fraud case involving health care giant Omnicare. When it comes to selling drugs to nursing homes and other long-term care facilities across the country, Omnicare has a prescription for success - a market share in excess of 70 percent and more than $6 billion in sales last year alone.