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Old 01-23-2013, 05:30 PM
 
Location: Michigan
5,376 posts, read 5,331,642 times
Reputation: 1633

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Just two weeks after pleading guilty in a major federal fraud case, Amgen, the world’s largest biotechnology firm, scored a largely unnoticed coup on Capitol Hill: Congressional staff inserted a paragraph into the “fiscal cliff” bill in Section 632 of the law delays a set of Medicare price restraints on a class of drugs that includes Sensipar, that is projected to cost Medicare up to $500 million over the 2 year period.


http://www.nytimes.com/2013/01/20/us...anted=all&_r=0



If you think you've heard the name Amgen before around a settlement, you have....

Amgen to Pay $780 Million to Settle Suits on Its Sales
October 24, 2011

Amgen said Monday that it had set aside $780 million to settle various federal and state investigations and whistle-blower lawsuits accusing it of illegal sales and marketing tactics.

Amgen said it had reached an agreement in principle to settle criminal and civil investigations that had been under way for several years by the United States attorney offices in Brooklyn and Seattle.

http://www.nytimes.com/2011/10/25/health/25amgen.html

I will be surprised if this gets any notice here (or elsewhere). It's not as exciting as lip-syncing.

Last edited by plannine; 01-23-2013 at 05:56 PM..
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Old 01-23-2013, 05:37 PM
 
Location: deafened by howls of 'racism!!!'
52,331 posts, read 34,072,162 times
Reputation: 29052
interesting. and not the first time amgen has been singled out for a sweet deal.

Quote:
Sen. Edward Kennedy has introduced a bill granting Amgen and other biotech companies more than 13 years of marketing exclusivity for new "biologic" drugs, a class of protein-based drugs engineered from living cells. That's nearly twice the seven years' protection proposed by the White House; Sen. Chuck Schumer and Rep. Henry Waxman have proposed five.
Why is Ted Kennedy being so kind to Amgen? - Slate Magazine
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Old 01-23-2013, 05:42 PM
 
Location: Michigan
5,376 posts, read 5,331,642 times
Reputation: 1633
Quote:
Originally Posted by uggabugga View Post
interesting. and not the first time amgen has been singled out for a sweet deal.
They paid a lot of lobbyists a decent amount, they expect results, and they get them.

https://www.opensecrets.org/lobby/cl...0391&year=2012


Their Washington lobbyists that includes Jeff Forbes, the former chief of staff to Senator Baucus; Hunter Bates, the former chief of staff for Senator McConnell; and Tony Podesta, whose fast-growing lobbying firm has unusually close ties to the White House.
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