GSK Settlement: Changing The Way Drug Cos. Do Business?
July 12, 2012, 1:52 PM EDT
Law360, New York (July 12, 2012, 1:52 PM EDT) -- On July 2, 2012, the U.S. Department of Justice announced the largest health care fraud settlement in U.S. history: GlaxoSmithKline LLC will pay $3 billion to resolve criminal and civil allegations of unlawfully promoting prescription drugs, failing to report safety data and engaging in allegedly false price reporting practices. This resolution includes a criminal fine and forfeiture totaling $1 billion and $2 billion in civil payments.
Historically Severe Criminal and Civil Fines
Under the Food, Drug and Cosmetic Act (“FDCA”), GSK may promote its prescription drugs...