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Amgen's allegedly improper marketing practices have sparked federal and state investigations and several whistleblower lawsuits.
NEW YORK TIMES Investor Accuses Carlyle of Improper Marketing | A Kuwaiti company that is suing the Carlyle Group over a $25 million deal now says the private equity firm marketed the deal without a license, The Associated Press reports.
Eli Lilly & Company won reversal of a ruling that had granted class-action status to a suit by pension funds, unions and insurers that claimed improper marketing of Zyprexa, its schizophrenia treatment, raised their costs.
Under the new standards, companies are responsible not only for their own employees, but also for sales agents and contractors who "engage in improper marketing and promotional activities" on their behalf.
Eli Lilly & Company will record a $1.4 billion charge related to allegations of improper marketing of its top-selling schizophrenia drug, Zyprexa, and is in advanced talks to resolve the investigations, the company said on Tuesday.
The memory of hefty legal settlements for improper marketing and obfuscation of safety risks lingers, the biggest being GlaxoSmithKline's 2012 $3 billion penalty over the marketing of antidepressants and a safety issue for a diabetes drug.
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Evergreen Investment Management and its affiliates have agreed to pay $32.5 million to settle charges of improper market timing, the Securities and Exchange Commission said yesterday.
He also lost 50 percent of his 2011 bonus for his role in the improper market conduct, according to a person with direct knowledge of the matter.
The following day, the state of Massachusetts filed charges of fraud against five former employees of Prudential Securities Bostonn office, also for allegedly improper market timing.
Putnam has conceded that other employees also engaged in improper market-timing, quick in-and-out trades of the company's mutual funds.
The CVM may also obtain information on markets, institutions, financial products, customers and parties involved in securities transactions, carry out investigations, impose sanctions, suspend trading of securities, and prohibit improper market conduct.
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