News Alert: GlaxoSmithKline to pay $3B to settle charges over marketing practices

	Thursday, November 3, 2011 9:24:04 AM NEWS ALERT GlaxoSmithKline to pay $3B to settle charges over marketing practices GlaxoSmithKline agreed to pay $3 billion to resolve U.S. criminal and civil investigations into whether the U.K. company marketed drugs for unapproved uses and other matters, its biggest legal settlement. Negotiations over the terms are ongoing and will be completed next year, the London-based company said in a statement today. The cost is covered by existing legal provisions and will be paid from the company's cash resources, Glaxo said. The Glaxo settlement would trump the $2.3 billion Pfizer paid in 2009 over the marketing of its Bextra painkiller and other drugs and the $1.4 billion Eli Lilly paid the same year over sales of its Zyprexa anti-psychotic medicine. The Bextra accord had been the largest pharmaceutical marketing settlement in U.S. history. Read more at: http://www.washingtonpost.com/business/glaxo-to-pay-3-billion-to-settle-us-sales-avandia-cases/2011/11/03/gIQAbPzOiM_story.html Or visit washingtonpost.com. SEND TO A FRIEND UNSUBSCRIBE E-MAIL CENTER GET HELP Washington Post Digital E-mail Customer Care 1150 15th Street NW Washington, D.C. 20071 ©2011 The Washington Post Privacy Policy