Compounding pharmacy CEO pleads guilty to lying in 2020 case

The former CEO of a compounding pharmacy in Florida pleaded guilty in late July to lying to federal agents in a kickback case the business and a private equity firm settled in 2019 for $21 million, according to the Justice Department.

Patrick Smith, the ex-CEO of Patient Care America, falsely told investigators in 2020 that he did not vet marketing groups that recruited Tricare patients. The compounding pharmacy paid $40 million to marketers, and a dozen of them have been convicted and sentenced to up to 13 years for their roles.

Mr. Smith faces up to five years in prison.

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