(no subject)
GlaxoSmithKline agrees to $3 billion settlement with Justice Department in largest sum of its kind over health care fraud
Pharmaceutical giant GlaxoSmithKline will plead guilty and pay $3 billion in the largest settlement of health care fraud in U.S. history, the Justice Department announced Monday.
The settlement will resolve criminal and civil liability from the company's unlawful promotion of certain prescription drugs. The company is to plead guilty to a three-count criminal information, including two counts of introducing misbranded antidepressant drugs Paxil and Wellbutrin to interstate commerce and one count of failing to report safety data about the diabetes drug Avandia to the FDA. The criminal complaints will total $1 billion.
GSK will also pay $2 billion to resolve civil liabilities relating to Paxil, Wellbutrin and Avandia, as well as other drugs and also resolves allegations of pricing fraud.
For Avandia, the U.S. alleged GSK failed to report certain safety data between 2001 and 2007 that have since led to "black box" warning labels of about the drug's potential to increase risk for heart failure and heart attack.
But hey, who needs all that stinky ol' government regulation anyway?
Pharmaceutical giant GlaxoSmithKline will plead guilty and pay $3 billion in the largest settlement of health care fraud in U.S. history, the Justice Department announced Monday.
The settlement will resolve criminal and civil liability from the company's unlawful promotion of certain prescription drugs. The company is to plead guilty to a three-count criminal information, including two counts of introducing misbranded antidepressant drugs Paxil and Wellbutrin to interstate commerce and one count of failing to report safety data about the diabetes drug Avandia to the FDA. The criminal complaints will total $1 billion.
GSK will also pay $2 billion to resolve civil liabilities relating to Paxil, Wellbutrin and Avandia, as well as other drugs and also resolves allegations of pricing fraud.
For Avandia, the U.S. alleged GSK failed to report certain safety data between 2001 and 2007 that have since led to "black box" warning labels of about the drug's potential to increase risk for heart failure and heart attack.
But hey, who needs all that stinky ol' government regulation anyway?