Eli Lilly is running scared. Whilst personal injury lawsuits are falling around them like autumnal leaves they can handle that. Hey, Eli Lilly can handle that sort of stuff out of its petty cash jar.
What Eli Lilly may not be able to handle so easily are the Medicaid fraud lawsuits that have been filed by 9 states so far.
However, the axe that is really hanging over Eli Lilly’s head (and a few of the other ‘death for profit’ Big Pharma merchants) is the Sarbanes-Oxley Act (SOX). After Enron crashed legislation was pushed through to protect shareholders against reckless and fraudulent use of shareholder’s money. The resultant legislation was SOX.
It is becoming clearer and clearer that the promotion of drugs with undeclared and highly dangerous side effects falls very neatly under the umbrella of the SOX legislation.
How odd that Big Pharma who have been able to kill for profit with total impunity over many decades could now finally go down for defrauding shareholders.
Reminds me of the Al Capone story. He robbed and killed and caused mayhem for years, but was eventually done for tax violations. I suppose that we should feel the same. Just lock up the drug manufacturers and dealers and throw away the key, it doesn’t matter what for just as long as they are off the streets.