Glaxo Handing Over Record $3B To Settle FCA Claims

By Jeff Overley (July 2, 2012, 2:03 PM EDT) -- GlaxoSmithKline PLC will plead guilty and pay a record-setting $3 billion penalty to resolve whistleblower charges that it promoted drugs for unapproved uses, omitted safety data about its medicines and violated the False Claims Act by doling out kickbacks, prosecutors said Monday.

Under the settlement, U.K.-based GSK will enter guilty pleas on three counts involving some of its most prominent treatments. Those charges, which carry fines totaling $1 billion, include failing to report data to the U.S. Food and Drug Administration about diabetes drug Avandia and misbranding of antidepressants Paxil and Wellbutrin.

In addition, the company will hand over $2 billion...

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