Take the Diabetes Health Pump Survey
See What's Inside
Read this FREE issue now
For healthcare professionals only
  • 12 Tips for Traveling With Diabetes
See the entire table of contents here!

You can view the current or previous issues of Diabetes Health online, in their entirety, anytime you want.
Click Here To View

See if you qualify for our free healthcare professional magazines. Click here to start your application for Pre-Diabetes Health, Diabetes Health Pharmacist and Diabetes Health Professional.

Learn More About the Professional Subscription

Free Diabetes Health e-Newsletter
Latest
Popular
Top Rated
Food Archives
Print | Email | Share | Comments (0)

Bico Gets Hit in the Wallet —Non-invasive BG Meter Maker Under Investigation for Fraud

Feb 1, 2001

Bico Inc. agreed to pay $3.45 million to settle a class-action lawsuit alleging it duped investors into believing the Diasensor - its experimental non-invasive BG meter - was ready for market.

In the spring of 1996, Bico shareholders filed lawsuits after the Food and Drug Administration rejected Bico's request to market the Diasensor. The rejection came after an FDA advisory panel concluded the Diasensor could be dangerous. A subsequent request to start selling the device also was turned down.

According to the November 16, 2000 issue of the Pittsburgh Post-Gazette, Bico said it agreed to the payment without admitting any wrongdoing.

Bico is currently being investigated by the Justice Department and other federal agencies looking into possible fraud and mismanagement involving some of the same allegations made in the class-action suit.


Categories: Food, Meters, Noninvasive Monitors



You May Also Be Interested In...


Click Here To View Or Post Comments

Comments 0 comments - Feb 1, 2001

©1991-2014 Diabetes Health | Home | Privacy | Press | Advertising | Help | Contact Us | Donate | Sitemap

Diabetes Health Medical Disclaimer

The information on this site is not intended or implied to be a substitute for professional medical advice, diagnosis or treatment. All content, including text, graphics, images, and information, contained on or available through this website is for general information purposes only. Opinions expressed here are the opinions of writers, contributors, and commentators, and are not necessarily those of Diabetes Health. Never disregard professional medical advice or delay seeking medical treatment because of something you have read on or accessed through this website.