Legal | MassDevice

C.R. Bard finds insurer willing to cover future hernia claims

January 7, 2010 by MassDevice staff

Murray Hill, N.J.-based C.R. Bard settles with an unidentified carrier to secure insurance coverage for possible financial claims resulting from upcoming product-liability trials for its line of hernia-repair products.

With the first of what may be a long string of product-liability trials now only months away, C. R. Bard Inc. (NYSE:CRB) has convinced an insurance carrier to again cover potential claims.

All it took was letting a $25 million IOU slide.

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DOJ: healthcare fraud recoveries totaled $1.6 billion in FY09

November 19, 2009 by MassDevice staff

Settlements and recoveries from Medicare fraud, off-label marketing and the illegal promotion of drugs and devices add up more than two-thirds of the total nut of false claims recoveries for the Federal watch dogs

DOJ: healthcare fraud recoveries totaled $1.6 billion in FY09

The Dept. of Justice is making hay from crackdowns on healthcare fraud, according to new numbers indicating that about two-thirds of the $2.4 billion recovered from false claims prosecutions this year were healthcare-related.

The department said it collected $1.6 billion from busts of Medicare and Medicaid fraud rings, off-label marketing and illegal promotion of drugs and devices during fiscal 2009. That's about 66 percent of the total the feds recovered from fraud cases during the year. This year's haul is the second-highest-grossing year ever, according to a DOJ press release.

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Wanted: Common sense reforms at FDA

September 1, 2009 by Karin Gregory

Medical device makers are focused on bringing good, safe products to market. There are better ways to police the industry than the proposals in the Medical Device Safety Act of 2009.

We watch to see the outcome of the hearings and discussions from the Congressional activities that have stemmed from the U.S. Supreme Court’s February 2008 decision in Riegel v. Medtronic Inc. Congress is rushing to enact the Medical Device Safety Act of 2009 to reverse the preemption bar for those injured by medical devices that have been approved for use via the pre-market approval process of the Food & Drug Administration.