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October 17th, 2005

"AIDS Drug Maker Serono Laboratories to Pay $704M in Settlement"

Serono Laboratories, the Swiss drug maker, has agreed to pay the US Justice Department $704 million in the third largest health care fraud settlement in US history. The drug manufacturer also admitted to wrongdoing in its repeated offers of trips and other enticements to doctors who agreed to prescribe their AIDS drug Serostim.

The drug company will be barred from engaging in federally related health program activities for fives years. The settlement award consists of a $136.9 million criminal fine and civil penalties amounting to $567 million.

The lawsuit and settlement follows a four year US government investigation into the company’s practices surrounding its marketing of the drug Serostim. The drug was FDA approved in 1996 for use in treating an AIDS related condition known as AIDS wasting.

Serono officials had repeatedly offered and gave out free trips to France for doctors who agreed to prescribe Serostim. The drug costs about $21,000 per 12-week dosage to patients.

Because the investigation started by whistleblowers in US offices of Serono, the four people involved in bringing the illegal practices to light will split a $51 million award.

Have you been the victim of a consumer fraud scam? Contact an experienced consumer fraud lawyer for a free case evaluation now.