Glaxo Takes $2.36 Billion Charge On Legal Costs

LONDON - (AP) Pharmaceutical company GlaxoSmithKline said Thursday it expects to take a $2.36 billion charge against second-quarter earnings for the costs of settling court cases over the antidepressant Paxil and diabetes drug Avandia. The company said the charge includes settlements, agreements to settle...

$2.36B Glaxo Charge Covers Avandia, Paxil Litigation, Other Legal Costs

LONDON - (Mealey's) GlaxoSmithKline PLC (GSK) on July 15 said it expects to take a $2.36 billion charge against earnings to settle several legal issues, including settling "the substantial majority" of Avandia product liability cases and the "vast majority" of Paxil product liability...

Avandia Off Market In Europe; FDA To Restrict Its Use, Orders Probe of GSK Study

(Mealey's) The European Medicines Agency (EMA) on Sept. 23 recommended that the marketing authorization for GlaxoSmithKline PLC's (GSK) controversial anti-diabetes drug Avandia be suspended, and the Food and Drug Administration simultaneously said it will significantly restrict Avandia use in...

Lawsuits Follow Diabetes Drug Actos' Link To Cancer Risk

TRENTON, N.J. - (AP) The maker of the world's best-selling diabetes drug is facing hundreds of lawsuits and likely a big sales drop as suspicion grows that taking the pill for more than a year raises the risk of bladder cancer. In June, Takeda Pharmaceuticals Co. Ltd. halted sales of Actos. . . ...

GlaxoSmithKline To Settle 3 Federal Investigations For $3 Billion

LONDON - (Mealey's) GlaxoSmithKline plc (GSK) has reached an agreement in principal to settle three United States federal criminal and civil investigations for $3 billion, the company said Nov. 3 in a press release on its Web site. GSK said the agreement in principle will settle "the Company's...

3rd Circuit: Humana Can Sue GSK For Reimbursement For Avandia-Related Expenses

PHILADELPHIA - (Mealey's) Medicare Advantage provider Humana Medical Plan Inc. is allowed under Medicare law to seek reimbursement from GlaxoSmithKline PLC (GSK) for the costs of treating insurance customers who were injured by GSK's Avandia diabetes drug, a unanimous Third Circuit U.S. Court...

Glaxo To Plead Guilty, Will Pay $3 Billion Stemming From Drug Marketing

BOSTON - (Mealey's) GlaxoSmithKline LLC (GSK) agreed June 2 to plead guilty and to pay $3 billion to resolve broad-ranging criminal and civil allegations in Massachusetts federal court regarding the promotion of several prescription drugs, failure to report safety data and alleged false-price reporting...

GSK To Pay $229 Million To Settle Avandia, Drug Lawsuits By 8 State Attorneys General

LONDON — (Mealey's) GlaxoSmithKline plc (GSK) on July 24 said it has reached an agreement in principle with the attorneys general of seven states to pay $229 million to resolve lawsuits relating to the development and marketing of the diabetes drug Avandia, along with a lawsuit by the Louisiana...