Gilead To Pay $97M To Settle Kickback Debacle Over Letairis Drug [Yahoo! Finance News]
Johnson & Johnson (JNJ)
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Source: Yahoo! Finance News
Gilead has agreed to pay $97 million to settle claims that it violated the False Claims Act by using a charitable foundation to pay illegal kickbacks disguised as copayments for thousands of Medicare patients taking its pulmonary arterial hypertension drug, Letairis, the US Justice Department said.The US government alleged that Gilead (GILD) used the foundation as a conduit to pay the co-payment obligations of thousands of Medicare patients to induce them to buy Letairis, according to the findings. From 2007 through 2010, Gilead made payments to the foundation, which, in turn, used those funds to pay co-payment of patients taking Letairis.In addition, the government claimed that Gilead routinely obtained data from the foundation detailing how much the foundation had spent for patients taking Letairis. It then used this information to decide how much to pay the foundation. Furthermore, it also alleged that, to generate revenue from Medicare and induce purchases of Letairis, Gilead refe
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