Subpoenas Issued To Wyeth And Johnson & Johnson
Make a commentBy Ed Silverman // August 4th, 2008 // 9:56 pm
Wyeth was issued a new round of subpoeanas over its heartburn med by a grand jury in Massachusetts investigating pricing and marketing activities, according to a filing with the Securities and Exchange Commission. Current and former employees, in fact, have already testified before the grand jury this year.
In 2005, Wyeth was first served a subpoena by the same federal prosecutor regarding Protonix, seeking documents from Wyeth dating back to January 2000. “We are cooperating fully,” a Wyeth spokesman wrote Bloomberg News in an e-mail. Until recently, Protonix was one of Wyeth’s top-selling products, but second-quarter sales fell 59 percent, to $228 million, thanks to competition from unauthorized generics.
Separately, Johnson & Johnson was subpoenaed by the US Attorney’s office in Boston in connection with its sales of bile duct stents, according to a filing with the SEC. Earlier this year, both Abbott Labs and Boston Scientific reported investigations into whether the devices were promoted for unapproved uses and improper reimbursement made by Medicare and Medicaid. A J&J spokeswoman tells Bloomberg the health care giant is cooperating with investigators.
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Abbott Laboratories, Bile Duct Stents, Boston Scientific, Johnson & Johnson, Protonix, Stents, Wyeth