Glaxo Pays $3 Billion To Settle U.S. Investigations
The settlement will also cover a Department of Justice probe into Glaxo's development and marketing of the diabetes drug Avandia.
The Wall Street Journal: Glaxo Settles With U.S. For $3 Billion
GlaxoSmithKline PLC said it will pay the U.S. government $3 billion to settle several long-running criminal and civil investigations into the company, including allegations that Glaxo marketed some drugs illegally and defrauded the Medicaid program. The settlement will also cover a Department of Justice probe into Glaxo's development and marketing of the diabetes drug Avandia, which has been linked to heart attack risks (Whalen, 11/3).
Bloomberg: Glaxo To Pay $3B To Settle U.S. Sales, Avandia Cases
GlaxoSmithKline Plc (GSK) agreed to pay $3 billion to resolve U.S. criminal and civil investigations into whether the U.K. company marketed drugs for unapproved uses and other matters, its biggest legal settlement. Negotiations over the terms are ongoing and will be completed next year, the London-based company said in a statement today. The cost is covered by existing legal provisions and will be paid from the company's cash resources, Glaxo said (Serafino and Kitamura, 11/3).
Fox Business: GlaxoSmithKline To Pay $3B To Settle U.S. Probes
GlaxoSmithKline PLC, the London health care major, said Thursday that it would pay $3 billion to settle multiple U.S. government investigations. The inquiries were focused on GSK's sales and marketing practices; issues tied to the Medicaid Rebate Program, and the development and marketing of the diabetes drug Avandia, GlaxoSmithKline said. The company said it has set aside provisions for the settlement and hopes to complete the agreement with the U.S. in 2012 (Daniel, 11/3).