{"id":40933,"date":"2013-10-18T08:01:31","date_gmt":"2013-10-18T12:01:31","guid":{"rendered":"http:\/\/1boringoldman.com\/?p=40933"},"modified":"2013-10-18T08:11:36","modified_gmt":"2013-10-18T12:11:36","slug":"follow-up-3","status":"publish","type":"post","link":"https:\/\/1boringoldman.com\/index.php\/2013\/10\/18\/follow-up-3\/","title":{"rendered":"follow-up…"},"content":{"rendered":"
A couple of days ago, I posted this timeline of the SKB\/GSK’s studies of Paxil in adolescents [paxil in adolescents: “five easy pieces”…<\/a>]:<\/div>\n
<\/div>\n
I wanted to put some index of their profits from the drug during the period between publishing Paxil Study 329 and the time the patent expired. I failed at that. I couldn’t even document the overall Paxil profitability. Subsequently, I found this: <\/div>\n
\n
Glaxo Agrees to Pay $3 Billion in Fraud Settlement<\/a><\/div>\n
New York Times<\/font><\/strong><\/div>\n
By KATIE THOMAS and MICHAEL S. SCHMIDT <\/div>\n
July 2, 2012<\/div>\n

<\/p>\n

The three criminal charges involved Paxil, Wellbutrin and Avandia and included a criminal fine of $1 billion. The remaining $2 billion involves fines in connection with a civil settlement over the sales and marketing practices of the blockbuster asthma drug Advair and several other drugs. <\/p>\n

Part of the civil settlement also includes claims that the company overcharged the government for drugs. Glaxo did not admit any wrongdoing in the civil settlement. Despite the large amount, $3 billion represents only a portion of what Glaxo made on the drugs. Avandia, for example, racked up $10.4 billion in sales, Paxil brought in $11.6 billion, and Wellbutrin sales were $5.9 billion during the years covered by the settlement, according to IMS Health, a data group that consults for drugmakers. <\/p>\n

“So a $3 billion settlement for half a dozen drugs over 10 years can be rationalized as the cost of doing business,” Mr. Burns said…<\/p>\n

<\/div>\n<\/blockquote>\n
Obviously these numbers aren’t exactly what I was looking for. They don’t tell us the profits from the off-label sales for adolescents. But I agree they are enough to support Patrick Burns conclusion that “a $3 billion settlement for half a dozen drugs over 10 years can be rationalized as the cost of doing business<\/em>” [Burns was the spokesman for the whistle-blower advocacy group Taxpayers Against Fraud]. If profit is the index of success, it was worth it…<\/div>\n","protected":false},"excerpt":{"rendered":"

A couple of days ago, I posted this timeline of the SKB\/GSK’s studies of Paxil in adolescents [paxil in adolescents: “five easy pieces”…]: I wanted to put some index of their profits from the drug during the period between publishing Paxil Study 329 and the time the patent expired. I failed at that. I couldn’t […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-40933","post","type-post","status-publish","format-standard","hentry","category-opinion"],"_links":{"self":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/40933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/comments?post=40933"}],"version-history":[{"count":16,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/40933\/revisions"}],"predecessor-version":[{"id":40949,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/40933\/revisions\/40949"}],"wp:attachment":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/media?parent=40933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/categories?post=40933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/tags?post=40933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}