Court OKs $40M Paxil Deal With Third-Party Payors

Law360, New York (October 2, 2008, 12:00 AM EDT) -- A federal judge has granted final approval to a $40 million class action settlement between GlaxoSmithKline PLC and a group of health care funds and insurance companies that sued to recover the cost of Paxil purchases for children.

Judge Michael Davis of the U.S. District Court for the District of Minnesota said Tuesday that the settlement allows tens of thousands of third-party payors to recover up to 40 percent of the prescription costs of the anxiety drug for patients under 18.

The settlement, which was first...
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