GSK Pays $90M To Settle States' Claims Over Avandia Risks

By Daniel Wilson (November 15, 2012, 2:30 PM EST) -- GlaxoSmithKline PLC has agreed to pay $90 million to settle the claims of 37 states and the District of Columbia that it had unlawfully misrepresented the cardiovascular-related risks of diabetes treatment Avandia, several state attorneys general announced Thursday.

The settlement resolves claims that the pharmaceutical giant had unfairly and deceptively represented Avandia as lowering cholesterol without evidence, and as having cardiovascular benefits when it may have actually increased cardiovascular risks. The company has not admitted to any wrongdoing or liability under the various states' consumer laws.

Arizona Attorney General Tom Horne said in a statement Thursday that the settlement was a...

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