BW reports Abbott has given itself another black eye pleading guilty to a felony bilking Medicare & Medicaid.The FBI set up the dummy company which got reps on videotape. You'd think FBI would have bigger fish to trap like terrorists! The dummies in San Diego could have prevented 911! Spec- I do think both AGEN & HLTH have promise but my big gainer is AV....bot @ $2 hit $10 today!Let's not cry over Abbott just write letter to Miles saying clean things up or resign! Send copy to BOD showing disgust!
Undercover agents set up Southern Medical Distributors, a front company in the southern Illinois town of Swansea, to pose as buyers of medical devices for nursing homes, according to an indictment filed in a related case. The agents at Southern Medical, which was dissolved in May 2002, bought pumps and tubing used to feed nutritional liquids to nursing-home patients who are too sick to eat on their own; the liquids are fed directly to a patient's stomach or small intestine.
my fault calling them IV kits, they were tubing kits that were used in the above fashion. i know what division it was from, just got it mixed up with IV (parenteral sets), sorry. no matter, they still broke the law, and cost us and shareholdes $600,000,000. do you realize how much that is? you don't get stung for that kind of money for just a few bogus kit/pump sales.
Abbott Lab, is a good Company. You can not blame the CEO.( MILES )for the FELONY & BILKING thing,He was't the sale MAN, and was a couple corrupto dishonest salesman. and I am sure this ugly thing will not happen AGAING. Have a nice Day at the $$$ MARKET $$$
Congratulations! It look slike it's on a roll! Abbott is a 5 headed monster--so we have 9 eyes left! Anyway, the black eye will heal! The Sting operation sucks--these guys were framed---but look around--Ken Lay walks around, Scrushy does too as does Skilling and Ebers, and the list goes on! What a system!!! Here these suckers might have made a few thousand dollars --and people that screwed people --shareholders, debtholders, creditors, suppliers, mucho billions walk! Meanwhile, they are screwing up on national security at the same time! I still think they screwed Imclone up with their shenanigans at the FDA!