Friday, November 4, 2011

GlaxoSmithKline spends $3 billion to settle investigations

LONDON (AP) – Drug maker GlaxoSmithKline (GSK) said Thursday that it has agreed in principle with the United States government on a $3 billion settlement of investigations of the company's sales and marketing practices.

In June, Glaxo's U.S. subsidiary agreed to pay more than $40 million to 37 U.S. states and Washington, D.C., to settle complaints about manufacturing processes at a plant in Puerto Rico, which has been closed. The company also paid a $750 million fine in 2010 in the U.S. related to the Puerto Rico plant.