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Check out the unbelievable price tag for stealing from Medicaid through Omnicare for prescriptions that harmed the victims of corruption, all costs passed on to taxpayers!
Keywords: omnicare, johnson and johnson, johnson & johnson, J&J, alex, gorsky, risperdal, medicai
Date Created/Edited: June 7, 2013
Here we go... Time to start calculating what Alex Gorsky has cost Johnson & Johnson:
Keep in mind, Johnson & Johnson only has ONE source of income, the wallets of consumers who are their customers and shareholders - ultimately, the fines, restitution and long-term health consequences for their victims comes from inflating the price of their products: drugs, consumer goods, medical devices.
Risperdal: Courtesy of JNJ CEO Alex Gorsky - this corrupt mess was his project while in control at Janssen. Hard to believe this asshole is CEO. Was Billy-Boy Weldon in his right mind when he chose Alex as CEO?
Federal: $2,200,000,000 ($2.2 BILLION)
Arkansas: $1,200,000,000 ($1.2 BILLION)
South Carolina: $327,000,000 ($327 million)
Texas: $158,000,000 ($158 million)
Louisiana: $258,000,000 ($258 million)
36 states, class action: $181,000,000 ($181 million)
Kentucky: $ Currently in litigation
Wow - Risperdal alone has already cost Johnson & Johnson over $5 BILLION in litigation. This figure does not include lawyer fees and other fees associated with defending Johnson & Johnson for breaking laws and regulations designed to protect consumers from harm. However, profits were $24 billion from 2003 to 2010, quite a chunk of change for causing permanent harm, and deaths, from illegal marketing and misrepresentation of a harmful drug. Take off what was lost in litigation and the profit just doesn't seem as steep, especially when additional personal injury and class action lawsuits continue to pile up.
Over $5 billion was needlessly added to the cost of our health care to cover this fiasco. Hence the high cost of health care...
Again I ask: Do you really want the CEO and Chair of the Board of a major medical corporation, our healthcare, quoted as saying, "You don't have to get it 100% right. When you get it 60%, go! Any more time that you spend trying to figure it out, you're going to lose in the speed that you're missing out on."
This is our health care, not a bunch of car parts!
When you look at the facts, it appears as though Alex Gorsky is not part of the solution to the problems at Johnson & Johnson - he's the cause of most of them. Given his lack of ethics, I think he should be banned from the medical and banking fields for the rest of his life.
1. Emily Patterson (2013, May 8). List of Reasons Johnson & Johnson CEO Alex Gorsky Should Immediately Resign. Johnson and Toxin. Retrieved from http://www.johnsonandtoxin.com/alex_gorsky_resignation.shtml
2. Margaret Cronin Fisk, Jef Feeley and David Voreacos (2012, June 11). J&J Said to Agree to $2.2 Billion Drug Marketing Accord. Bloomberg. Retrieved from http://www.bloomberg.com/news/2012-06-11/j-j-said-to-pay-2-2-billion-to-end-risperdal-sales-probe.html
3. Emily Patterson (2012, November 6). JNJ's Recent Payoff's, I Mean Settlements, Risperdal and Levaquin. Johnson and Toxin. Retrieved from http://www.johnsonandtoxin.com/payoff_settlement.shtml