For the first time in history, the maker of the popular antidepressant Seroquel will pay an estimated $1 billion to settle charges that it illegally marketed the drug without disclosing safety or regulatory approval information about its use.
A separate case, filed in federal court in Philadelphia, involves a company called Bristol-Myers Squibb that marketed Seroquel in the United States for about 30 years, with sales of $2.7 billion in the past two years. It has since removed the information from the FDA, but the case continues to be pending.
The company, which is based in Canada, also pleaded guilty to a criminal offence, in which it admitted marketing the drug without disclosing the safety or regulatory approval information about its use.
In its plea agreement, Bristol-Myers said the company would pay a $1.45 million fine and a $2.45 million fine in return for its violation of the False Claims Act. The company also agreed to pay $1.45 million to settle a civil lawsuit alleging that the company illegally marketed the drug.
In addition to the company’s settlement, the company also agreed to pay $800 million to settle criminal investigations into the company’s marketing of Seroquel.
The company will pay a $2.45 million fine to settle civil investigations into the company’s marketing of the drug, which have been pending at the time of the settlement and in the past six months, and to pay a $2.45 million fine and a $1.45 million settlement of criminal allegations, which the company said violated the federal False Claims Act.
The criminal investigation into Seroquel is ongoing. The company will pay $800 million to settle criminal investigations and a $2.45 million settlement to settle criminal allegations, which the company said violated the False Claims Act.
The company said the settlement resolves the civil investigations into the marketing of Seroquel and will also pay a $800 million criminal fine to resolve the civil investigations. The company said it will not immediately comment on the settlement.
The case is part of a class-action lawsuit brought by Seroquel manufacturer Zyban, which was among the company’s top-$1.1 billion drugs and pharmaceuticals in the U. S. in 2006, which was first reported in the U. by The New England Journal of Medicine.The company is represented by Timothy Smith, Ph. D., a law firm, of Boston, Mass. Smith is the associate managing partner of the law firm and an attorney for the plaintiffs.
The company is represented by Robert C. Healy, Ph. D., of Indianapolis, Ind., and by Jeffrey D. Shkreli, Ph. D., of Boston, Mass.
The company’s Seroquel settlement is pending in the U. District Court for the Western District of Pennsylvania.
For more information, visitwww.seroquel.com
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Citation: Seroquel sales jump to record high of $1 billion—ORIGINAL RESEARCH RESEARCH
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Orgis, John, The Journal of Clinical Psychiatry, Volume 42, Issue 1, July 2013, Pages 477-479
orgis, John, The Journal of Clinical Psychiatry, Volume 42, Issue 1, July 2013, Pages 477-479
Copyright © 2013.
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View code for "0167" for this product| Side Effects | Strength |
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Seroquel XR, also known as quetiapine fumarate, is an atypical antipsychotic medication used in the treatment of various mental health disorders, including schizophrenia, bipolar disorder, and major depressive disorder. The drug is marketed by AstraZeneca and has been a significant player in the pharmaceutical market due to its broad therapeutic applications.
Seroquel XR, with a market size of $1.4 billion, is anticipated to witness the highest growth. The market is driven by the increasing prevalence of side effects associated with its use, its availability and relatively low costs. The market for antipsychotic medications, especially at a particular strength, is driven by the demand for safer, effective treatments.
The primary care market for Seroquel XR isasures in the United States, Canada and Mexico. Seroquel is approved for the treatment of a small number of conditions in both younger and middle-aged adults. For young adults, the use of antipsychotic medications can lead to a range of unwanted side effects, including drowsiness, weight gain, sedation, and cognitive problems. For older adults, the use of antipsychotic medications can also impact cognitive function, with the elderly being particularly popular.
Primary Care Drugs Market Size:10.23 BillionBillion Editionermanate Market Size: $10.3 Billion ( topography:WorldData)Geographical Regions:
Seroquel XR undergoes numerous educational and emotional requirements. The drug's educate should be provided in a way that is both practical and trusty.
The pharmaceutical industry is seeking healthcare resources to assist in its search for new therapeutic uses and formulations. The search can involve consulting with healthcare professionals, accessing information such as dosage guidelines, patient reports, and product descriptions, as well as providing information about Seroquel XR. The resources can also assist in making prescribing decisions that may not be appropriate based on individual health conditions or treatment needs.
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