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Just Other Articles - Corporate Fraud-In Praise of Jail Time
Finally, we are beginning to see real serious consequences for some of the players in the frauds that have been so prominent in
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
the recent news. A third Enron executive is now sitting in a jail cell, and one WorldCom top dog has been arrested. Even Martha
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
tewart has finally been indicted.
It’s about time!
Too many have turned a blind eye to these cases. I would argue that this ca
It’s about time!
Too many have turned a blind eye to these cases. I would argue that this ca
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
lous disregard has serious implications for free markets worldwide. America is the image of how a free-market works, and the wor
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
d is watching.
In nations where fraud and corruption are tolerated, free markets don’t last long. Already, many former communis
In nations where fraud and corruption are tolerated, free markets don’t last long. Already, many former communis
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
nations are on the road back toward socialism, because brief attempts at developing a functional market-based system failed. Th
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
se failures usually were the result of weak legal structures and the domination of a class of mafia businessmen who defrauded ci
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
tizens without penalty. Such a system is doomed. Any nation that tolerates fraud and corruption is doomed to see its market syst
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
m fail.
The strange thing is that very few in the pro business camp have taken the trouble to cry out for harsh penalties. Do w
The strange thing is that very few in the pro business camp have taken the trouble to cry out for harsh penalties. Do w
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
not understand how important fairness and justice is to freedom, and how important all of these are to economic progress? Anyon
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
who values the free-market and the opportunity to engage in honest business activity should be thrilled to see the indictments
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
oming.
Instead, we’ve dragged our feet in convicting these celebrities. The case of Martha Stewart is particularly disturbing.
Instead, we’ve dragged our feet in convicting these celebrities. The case of Martha Stewart is particularly disturbing.
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
egardless of what one thinks of her home-tips, her crimes are fairly obvious. Yet, many in the press and in mainstream America p
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
efer to defend her, and believe her “innocent act”. The government’s attempt to criminalize these actions make no sense to me,”
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
Martha claims. Yet, there is little doubt that Martha, a former stockbroker, is well aware of the rules regarding insider tradin
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
. Whether one agrees with the specific rules or not is irrelevant, because investors invest with the expectation that these rule
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
will not be violated. Still, not only did she violate the law once with regard to ImClone, her friend’s company, but more dist
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
rbingly, when news that she would be indicted was about to hit the press, she violated the same laws again, by selling shares in
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
her own company before the public knew about the indictment (which would obviously cause those shares to fall).
Such egregious
Such egregious
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
isregard for the law deserves no mercy. Let Martha decorate her prison cell. Hopefully, she’ll soon have a lot of company there
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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