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GlaxoSmithKline Agrees to Pay $750 Million for Drug Lawsuit Settlement

Posted by Adam Ellis on Oct 26th, 2010 and filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

GlaxoSmithKline Lawsuit Settlement Fine

Glaxo

GlaxoSmithKline, has agreed to pay $750 million to settle a lawsuit from the government that accuses the company of selling defective and possibly dangerous drugs. Glaxo pleaded guilty to charges that it sold “adulterated” drugs that were produced in a plant in Cidra, Puerto Rico. The plant has since been shut down.

GlaxoSmithKline will pay $600 million to state and federal authorities, while $150 million will be for a criminal fine.

The defective drugs were produced between 2001 and 2005.

“Today’s settlement reminds the pharmaceutical industry that they must observe those standards and reflects the commitment of Federal law enforcement organizations to pursue improper and illegal conduct that places health care consumers at risk,” Patrick E. McFarland, said in a statement. MacFarland is the inspector general of the U.S. Office of Personnel Management.

GlaxoSmithKline is a global pharmaceutical company specializing in vaccines, and biologics. Their headquarters are located in London. Only Johnson & Johnson and Pfizer generate more revenues than Glaxo. They are responsible for many popular medications such as Advair, Alli, Avodart, Avandia, Valtrex, Tums, Lanoxin, Horlicks and many more.

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  • http://www.facebook.com/haszard Danny Haszard

    Glaxo whistle-blower gets millions

    The deal with Zyprexa is that Eli Lilly pleaded guilty to criminal wrongs (“viva Zyprexa” campaign) the Zyprexa saga was rotten through and through.
    Eight Lilly EMPLOYEES got millions each as supposed informant ‘whistle blowers’.Lawyers on BOTH sides got millions and millions……most patient claimants who got sick are ‘mentally challenged’ and less able to advocate for themselves.
    The Class action Lawsuits in the US had payouts of $85,000 BUT the lawyers got 45 percent and then the govt got most of the rest for having to take care of the victim/patients medical expenses.Soooo,$85K turned into about $9,000 for Zyprexa claimants many had their food stamps and other state benefits taken away because of their *windfall profit* making them worse off in the end.
    *
    Daniel Haszard Zyprexa victim activist and patient who got diabetes from it. http://zyprexa-victims.com

  • http://www.facebook.com/haszard Danny Haszard

    Glaxo whistle-blower gets millions

    The deal with Zyprexa is that Eli Lilly pleaded guilty to criminal wrongs (“viva Zyprexa” campaign) the Zyprexa saga was rotten through and through.
    Eight Lilly EMPLOYEES got millions each as supposed informant ‘whistle blowers’.Lawyers on BOTH sides got millions and millions……most patient claimants who got sick are ‘mentally challenged’ and less able to advocate for themselves.
    The Class action Lawsuits in the US had payouts of $85,000 BUT the lawyers got 45 percent and then the govt got most of the rest for having to take care of the victim/patients medical expenses.Soooo,$85K turned into about $9,000 for Zyprexa claimants many had their food stamps and other state benefits taken away because of their *windfall profit* making them worse off in the end.
    *
    Daniel Haszard Zyprexa victim activist and patient who got diabetes from it. http://zyprexa-victims.com

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