J&J, the largest drug company in America, caught with multimillion dollar kickbacks to Omincare, the largest pharmacy for nursing homes. The goal of J&J was to push the antipsychotic drug Risperdal on elderly patients without a diagnosed psychosis and even after a warning about the drug by the FDA. Just your mildly confused grandma force-fed the antipsychotic medication ($280 million profit in one year 2004 for J&J). This drug was pushed primarily on the elderly but also prescribed for children. In other words on the defenseless, silent citizens. The kickbacks discovered only after a tip from a whistle-blower working inside Omincare. The saddest part of this story is that J&J and Omincare will pay the settlement and continue as if nothing happened while a corner kid will be in prison for an once of dope: Bloomberg. (wasn’t Risperdal the drug they gave to the Lubavitcher Rebbe at some point. I think I heard the late Rothschild ranting about it?)
The big banks are nothing compared to the big pharma dealers. Take note of which stocks went up on the day after the health care reform.