GlaxoSmithKline to pay $3 billion fine for health care fraud

GlaxoSmithKline Corporate HQ Brentford, Middlesex, UK

British pharmaceutical manufacturer GlaxoSmithKline has agreed to plead guilty to criminal charges in the US and pay $US3 billion in fines for promoting its best-selling antidepressants for unapproved uses and failing to report safety data about a top diabetes drug. According to US federal prosecutors the deal with GlaxoSmithKline, the world’s fourth-largest pharmaceutical company measured by 2009 prescription drug sales after Pfizer, Novartis and Sanofi, also includes penalties for it improperly marketing half-dozen other drugs and comes on top of a $1.6 billion fine levied in May on Abbott Laboratories over the marketing of the antipsychotic drug Depakote, while an agreement with Johnson & Johnson over its off-label promotion of another antipsychotic drug, Risperdal, could see the pharmaceutical giant fined … Continue reading