GlaxoSmithKline to pay $3 billion to US gov’t
WASHINGTON — GlaxoSmithKline has agreed to pay $3 billion to the U.S. government to settle allegations that it illegally marketed drugs, according to a press release.
The final settlement, which is expected to address civil and criminal liabilities, remains subject to negotiation of specific terms and is expected to be finalized in 2012.“This is a significant step toward resolving difficult, long-standing matters, which do not reflect the company that we are today,” said GlaxoSmithKline CEO Andrew Witty. “In recent years, we have fundamentally changed our procedures for compliance, marketing and selling in the U.S. to ensure that we operate with high standards of integrity and that we conduct our business openly and transparently. We reiterate our full commitment to ensuring appropriate promotion of our medicines to healthcare professionals and to the standards rightly expected by the U.S. government.”