3 ms·
The industry already got one actually, I coincidentally came across this yesterday: http://www.bloomberg.com/news/2013-08-13/florida-pharmacists-win-597-millio
by jonknee 13y ago
The industry already got one actually, I coincidentally came across this yesterday:
http://www.bloomberg.com/news/2013-08-13/florida-pharmacists-win-597-million-blowing-whistle-on-scheme.html http://www.bloomberg.com/news/2013-08-13/florida-pharmacists...
The TLDR is that an independent pharmacist treating AIDS patients got run out of business by price fixing competitors. He got the last laugh and sued on the behalf of the government and has so far collected $597M in awards (the government has collected over $3 billion).
The behavior of these (very large) firms was outrageous:
> For example, Abbott Laboratories (ABT) sold its antibiotic Vancomycin 1 GM FTV to customers for $4 a dose, according to a joint Justice Department and Ven-A-Care lawsuit. Abbott reported the cost to pricing publishers as $72.48 -- 18 times the actual amount, the lawsuit says.
This is likely going on for other types of drugs and then also in every other segment (medical devices/supplies being a biggy).