Federal Blacklist of Drug Firm's CEO Worries Businesses

Wednesday, 27 Apr 2011 03:18 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
A federal campaign against a single CEO has business leaders worried that the Obama administration is using strong-arm tactics to influence corporate decision-making, the Wall Street Journal reports.

The chief executive, Howard Solomon of the pharmaceuticals company Forest Laboratories Inc., faces banishment from doing any business with the U.S. government. Solomon’s company paid civil and criminal fines for marketing its anti-depressant drugs to children's doctors before receiving federal approval.

Solomon himself was never charged with any wrongdoing, but the Department of Health and Human Services wants to exclude him from all government contracts.

If the ban goes into effect, Solomon is as good as fired, because Forest Laboratories, like most companies that sell products to the government, needs a CEO who isn’t operating under a federal blacklist.

The exclusion penalty "is a game changer," said Richard Westling, a corporate defense attorney in Nashville, Tenn. "It would be a mistake to see this as solely a healthcare industry issue. The use of sanctions such as exclusion and debarment to punish individuals where the government is unable to prove a direct legal or regulatory violation could have wide-ranging impact."



© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Two-hour Arizona Execution Sparks Calls for Rethink on Death Penalty

Thursday, 24 Jul 2014 11:22 AM

Lawyers for a double-murderer whose lethal injection in Arizona dragged on for two hours called for an outside review of . . .

Fans Protest Tony Dungy's Clarification on Sam Comments

Thursday, 24 Jul 2014 11:06 AM

NBC sports analyst Tony Dungy has clarified his comments on drafting Michael Sam, the first openly gay NFL player, but D . . .

Facebook Taking Piece of Mobile Ad Revenue Pie From Google

Thursday, 24 Jul 2014 10:28 AM

For the ninth straight quarter, Facebook Inc. has blown away Wall Street projections, more than doubling its $333 millio . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved