GSK Settles Avandia Governmental Probes for $3B, But Nothing For Consumers
Faced with multiple criminal investigations into illegal practices, on November 3, 2011, the British drug company GlaxoSmithKline said that it had agreed to pay $3 billion to settle United States government civil and criminal investigations into its sales practices for numerous drugs, including Avandia. Company whisteblowers alleged that GSK improperly paid Doctors and manipulated medical research to promote sales of the drug.
The $3 billion settlement covers not only the Avandia practices, but also a Justice Department investigation of Medicaid pricing practices and a nationwide Untied States attorneys investigation into sales and marketing of nine of GSK’s drugs.
Left out of the deal are the people who were injured as none of this money is going to the victims of these illegal actions. Avandia victims who suffered heart attacks and strokes will remain in the civil litigation system where they must prove Avandia caused their injuries.
In a move that speaks volumes about our society, GSK stock ROSE 2.96percent to $44.55, near its 52 week high.
The Brandi Law Firm is representing numerous Avandia users who suffered injuries from this product. For more information, click here to read about the Brandi Law Firm Avandia Attorneys.
Glaxo Settles With U.S. for $3 Billion (Wall Street Journal)