GSK Records $400M Legal Charge In Off-Label Probe

Law360, New York (January 30, 2009, 12:00 AM EST) -- In a possible signal of an impending settlement, GlaxoSmithKline PLC said it would record a $400 million legal charge in the fourth quarter of 2008 related to a U.S. Department of Justice investigation into the pharmaceutical company's marketing practices.

GSK has disclosed in several annual reports that the U.S. attorney's office in Colorado is investigating how the company has promoted nine of its highest-selling pharmaceuticals from 1997 through 2004, when the inquiry was launched.

The authorities are looking particularly at whether the company was promoting the...
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