Pharmaceutical drug maker GlaxoSmithKline will pay $3 billion
and plead guilty to federal charges to resolve a slew of criminal and civil
issues stemming from its use of kickbacks, mis-branding and other misconduct to
market drugs such as Paxil, Wellbutrin and Advair, the U.S. government
announced.
The agreement is the largest healthcare fraud settlement in history, spanning
nearly every state, according to the Justice Department. It's also the largest
payment ever by a drug company.
The settlement is "unprecedented in both size and scope," said James M. Cole, deputy attorney general, in a statement.
"Today brings to resolution difficult, long-standing matters for GSK," said Chief Executive Sir Andrew Witty in a statement. "Whilst these originate in a different era for the company, they cannot and will not be ignored. On behalf of GSK, I want to express our regret and reiterate that we have learnt from the mistakes that were made."
The British company illegally marketed depression drug Paxil to children and teens, even sponsoring dinners and spa programs in the drug's name, prosecutors said.......
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The settlement is "unprecedented in both size and scope," said James M. Cole, deputy attorney general, in a statement.
"Today brings to resolution difficult, long-standing matters for GSK," said Chief Executive Sir Andrew Witty in a statement. "Whilst these originate in a different era for the company, they cannot and will not be ignored. On behalf of GSK, I want to express our regret and reiterate that we have learnt from the mistakes that were made."
The British company illegally marketed depression drug Paxil to children and teens, even sponsoring dinners and spa programs in the drug's name, prosecutors said.......
Continue Reading....
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