Tamil Star

GlaxoSmithKline agrees to pay 3 billion dollars in US drug fraud scandal

Posted in: Health News
Jul 4, 2012 - 12:40:13 AM


avandia.jpg
Diabetes medication "Avandia"
British drug-maker GlaxoSmithKline (GSK), one of the largest healthcare and pharmaceuticals companies in the world, has agreed to pay 3 billion US dollars as criminal fines and civil settlements with the federal and state governments of the United States of America.

Above settlement is the largest healthcare fraud settlement in entire history of USA and the drug-maker will pay this amount for criminal and civil violations involving 10 drugs that were taken by millions of people in USA.

The drug giant will plead guilty to promoting two drugs (antidepressants Paxil and Wellbutrin) for unapproved uses and then failing to report to the government agency (Food and Drug Administration) for seven years some safety data.

Food and Drug Administration (FDA or USFDA) is an agency of the United States Department of Health and Human Services, one of the United States federal executive departments.

The case against the drug giant took into account 10 drugs, including Paxil, Wellbutrin, Avandia and Advair. Diabetes medication "Avandia" is one of the three drugs concerned in the fraud case

Deputy US Attorney General James Cole told a news conference in Washington DC that the settlement was "unprecedented in both size and scope".

Let us hope that GSK, which is headquartered in London, United Kingdom, will survive this unprecedented colossal fine, come out of the bad name and continue to serve the masses of this world.

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