July 12, 2014 12:05 PM ET

Pharmaceuticals

Company Overview of Victory Pharma, Inc.

Company Overview

Victory Pharma, Inc. engages in acquiring, developing, and marketing prescription pharmaceutical products for the treatment of pain and related conditions. The company also develops pharmaceuticals that treat pain and minimize side effects associated with widely-used pain therapeutics. Its products include NAPRELAN tablets for the treatment of rheumatoid arthritis, osteoarthritis, ankylosing spondylitis, tendinitis, bursitis, and acute gout, as well as for the relief of mild to moderate pain and treatment of primary dysmenorrheal; XODOL for the relief of moderate to moderately severe pain; Fexmid 7.5mg tablets for adjunct to rest and physical therapy for relief of muscle spasm associated wit...

11682 El Camino Real

Suite 250

San Diego, CA 92130

United States

Founded in 2003

Phone:

858-720-4500

Fax:

858-720-4501

Key Executives for Victory Pharma, Inc.

Chief Executive Officer
Executive Chairman
Senior Vice President of Trade Relations
Chief Accounting Officer
Age: 50
Vice President of Business Development
Age: 45
Compensation as of Fiscal Year 2014.

Victory Pharma, Inc. Key Developments

Victory Pharma Inc. to Pay $12 Million in Civil Damages and Penalties for Defrauding Health Care and Medicaid Programs

Attorney General Lisa Madigan joined her state counterparts across the country and the federal government to announce a $12 million settlement with Victory Pharma Inc. The settlement resolves allegations that Victory Pharma illegally promoted four of its drugs in an effort to defraud state and federally funded health care programs, including almost $140,000 in false claims submitted to the Illinois Medicaid program. The states and the federal government alleged that Victory Pharma offered kickbacks to medical professionals who encouraged Medicaid patients to use the drugs Naprelan, Xodol, Fexmid and Dolgic. Under the settlement, Victory Pharma will pay $12 million in civil damages and penalties to compensate Medicaid, Medicare, and various federal health care programs for harm suffered as a result of its conduct. Victory Pharma also pled guilty to federal criminal charges related to the kickback allegations. The company must also enter into a Corporate Integrity Agreement with the U.S. Department of Health and Human Services' Office of the Inspector General that will closely monitor the company's future marketing and sales practices. This settlement is based on a whistleblower action brought by a private individual pursuant to state and federal false claims acts and filed in the U.S. District Court for the Southern District of California.

Victory Pharma, Inc. Settles False Claims Suit for $11.4 Million

Victory Pharma, Inc. has agreed to pay $11.4 million to resolve allegations that it paid kickbacks to doctors who agreed to prescribe its medications to patients. According to the qui tam lawsuit originally filed by a former sales representative for the specialty pharmacist, the kickbacks paid to physicians included event tickets, golf outings and dinners at expensive restaurants. The drugs involved were the pain medications Naprelan, Xodol, Fexmid and Dolgic. The agreement includes a $1.4 million criminal forfeiture and $9.9 million civil settlement.

Victory Pharma, Inc. Settles with $12.2 Million in False Claims Act Case Brought by Ellis & Rapacki LLP

In the second False Claims Act brought by whistleblowers represented by the Ellis & Rapacki LLP to have settled, Victory Pharma, Inc. has agreed to pay $12.2 million to the federal and state governments and has entered into a deferred criminal prosecution agreement. The settlement with Victory resolves allegations that, from 2007 to 2009, the company offered and paid illegal remuneration to physicians to induce them to prescribe the company's pain medications (i.e., Naprelan, Xodol and Fexmid) in violation of the federal False Claims Act and similar state false claims acts. According to the whistleblower's complaint, which was filed in March 2009, Victory paid kickbacks to physicians in the form of cash, tickets to sporting events and concerts, golf outings and other trips, alcohol and dinners and other personal gifts. As part of its illegal marketing strategy, Victory gave a physician money to help make a house payment, paid for a physician's staff's outing at a strip club, including "lap dances" for the female staff, and offered a physician and his staff an all-expense paid trip to Las Vegas. Victory's illegal practices caused false or fraudulent claims for payment to be submitted to Medicare, Medicaid and other federally funded health programs. The whistleblower represented by Ellis & Rapacki LLP has been awarded more than $1.7 million for pursuing the False Claims Act case against Victory.

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