Spitzer No Likey Pharm Parties
The outcome of an investigation by the office of [New York State Attorney General Eliot Spitzer] is lots and lots of cash$10 million to be exact. Cardinal Health Inc., one of the U.S. prescription drug fat cats., is paying up to avoid further exploration into a secondary pharmaceutical trading market.
On Tuesday, Spitzer announced that this settlement is the first step in cracking down on a practice in which wholesalers trade drugs among themselves after theyre sold by manufacturers but before they are bought by pharmacies and hospitals.
According to Spitzer, Cardinal bought drugs from alternate sources (hopefully not that nice gentleman in Washington Sq. Park because hes vital to the fabric of our city) to take advantage of higher profit margins, and then sold drugs to customers despite evidence that they may have been illegally diverting the drugs.