The biggest player of the pharmaceutical industry, GlaxoSmithKline plc (NYSE:GSK), makes the biggest settlement of healthcare fraud in US trial history. This brings an end to a long-running case against the pharmaceutical giant that was under investigation for many years now. FDA, FBI and Department of Health and Human Services had been probing the matter. The drugs that the company is paying a huge price for are called Paxil, Wellbutrin and Avandia. While Paxil and Wellbutrin are antidepressants and the criminal charges are ‘misbranding’, GlaxoSmithKline plc (NYSE:GSK) faced allegations of misrepresenting the drug safety data, in case of Avandia. The settlement includes a payment of $1billion to…
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