Glaxo Agrees To Settle Paxil Litigation For $63.8M

Law360 (November 1, 2006, 12:00 AM EST) -- GlaxoSmithKline PLC is dishing out $63.8 million to settle claims in a class action lawsuit that it marketed its antidepressant drug Paxil to kids and teenagers while hiding information about the drug's safety.

Around $16.6 million of the settlement will go to plaintiffs' attorneys. The suit was filed in notorious plaintiffs' haven Madison County, Ill.

As part of the settlement, Glaxo denied the suit's claims and said that it wanted to resolve the matter to avoid further costs.

A spokeswoman for Glaxo, Mary Anne Rhyne, told Dow Jones that "we believe we acted appropriately, denied liability and moved to resolve this...

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