Bad drug company GlaxoSmithKline in trouble again; this time paying record-setting 3 billion dollar settlement.

Excerpt from: Glaxo to Pay $3 Billion in Avandia Settlement By Published: November 3, 2011:

“The British drug company GlaxoSmithKline said Thursday that it has agreed to pay $3 billion to settle United States government civil and criminal investigations into its sales practices.  The settlement is the largest yet in a wave of cases brought against pharmaceutical companies for illegal marketing of drugs, passing the previous record of $2.3 billion paid by Pfizer in 2009. In recent years, drug companies have been the major targets of federal fraud investigations that cost Medicare and Medicaid tens of billions of dollars.” Read the rest of the story here.

Leave a comment

Filed under Business Misconduct

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s