GlaxoSmithKline Agrees to Pay $3 Billion in Fraud Settlement

GlaxoSmithKline Agrees to Pay $3 Billion in Fraud Settlement

Category: Avandia

More Info: Defective Drugs

In the largest settlement involving a pharmaceutical company, the British drugmaker GlaxoSmithKline agreed to plead guilty to criminal charges and pay $3 billion in fines for promoting its best-selling antidepressants for unapproved uses and failing to report safety data about a top diabetes drug, federal prosecutors announced Monday.

The agreement also includes civil penalties for improper marketing of a half-dozen other drugs.

The fine against GlaxoSmithKline over Avandia, Paxil, Wellbutrin,  and the other drugs makes this year a record for money recovered by the federal government under its so-called whistle-blower law, according to a group that tracks such numbers.

In May, Abbott Laboratories settled for $1.6 billion over its marketing of the antiseizure drug Depakote. And an agreement with Johnson & Johnson that could result in a fine of as much as $2 billion is said to be imminent over its off-label promotion of an antipsychotic drug, Risperdal.

No individuals have been charged in any of the cases. Even so, the Justice Department contends the prosecutions are well worth the effort — reaping more than $15 in recoveries for every $1 it spends, by one estimate.

Continue reading...

See the full, original post here:

About TriMark Legal Funding

TriMark was established in 2003 and is among the oldest legal funding companies in the nation. TriMark provides pre-settlement and post-settlement funding, sometimes called 'lawsuit settlement loans', to injured plaintiffs on hundreds of different types of personal injury lawsuits, employment lawsuits, workplace injury accidents and worker's comp lawsuits, mass torts, and multi-district litigation. We also provide attorney funding and law firm financing for plaintiffs' attorneys and law firms.

Personal Injury Legal FundingMultidistrict Litigation Financing

Click here to see the original article.

* Word-Use Disclaimer

Legal funding is not a loan. It is the non-recourse purchase of an equitable lien in a plaintiffs’ legal claim. Words such as ‘loans,’ ‘lending,’ ‘borrow,’ etc., are used for search and marketing purposes only.
More info

TriMark Legal Funding LLC
1056 Green Acres Rd #102
Eugene, OR 97408