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GlaxSmithKline Settles DOJ Probe for $3 billion

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According to an announcement by the U.S. Department of Justice, pharmaceutical giant GlaxoSmithKline has admitted guilt to civil and criminal charges for the illegal marketing of the anti-depressant Paxil, and type 2 diabetes drug Avandia, as well as others. The company will pay the government a record settlement of $3 billion in fines.

Deputy Attorney General James M. Cole said in a statement, “It underscores the Administration’s firm commitment to protecting the American people and holding accountable those who commit health care fraud. At every level, we are determined to stop practices that jeopardize patients’ health, harm taxpayers, and violate the public trust-and this historic action is a clear warning to any company that chooses to break the law.”

Sir Andrew Witty, GlaxoSmithKline CEO said in statement, “Today brings to resolution difficult, long-standing matters for GSK. Whilst these originate in a different era for the company, they cannot and will not be ignored. On behalf of GSK, I want to express our regret and reiterate that we have learnt from the mistakes that were made.”

He continues, “We are deeply committed to doing everything we can to live up to and exceed the expectations of those we work with and serve. Since I became CEO, we have had a clear priority to ingrain a culture of putting patients first, acting transparently, respecting people inside and outside the organization and displaying integrity in everything we do.

“In the U.S., we have taken action at all levels in the company. We have fundamentally changed our procedures for compliance, marketing and selling. When necessary, we have removed employees who have engaged in misconduct. In the last two years, we have reformed the basis on which we pay our sales representatives and we have enhanced our ability to ‘claw back’ remuneration of our senior management,” Philly.com reports.

breakinglawsuitnews.com disclaimer: This article: GlaxSmithKline Settles DOJ Probe for $3 billion was posted on Tuesday, July 3rd, 2012 at 7:27 pm at breakinglawsuitnews.com and is filed under Defective Drug Lawsuits.

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