Feds Drop Fraud Charges Against Former Stryker Biotech Exec
The federal government has dropped fraud charges against former Stryker Biotech president Mark Philip, the Boston Business Journal reports. Philip received indictments in 2009 and 2011, alleging he was involved in marketing an unapproved mixture of products for strengthening human bone growth.
A related case in federal court, in which Stryker Biotech -- the Hopkinton-based medical device unit of Stryker Corp. -- was charged with with 13 felony fraud charges, was dropped last month. The BBJ reports that Stryker Biotech has agreed to plead guilty to one misdemeanor count of misbranding a medical device, and to pay a $15 million fine.