Archive for Thursday, November 15, 2012
Colo. to get $1.9M in GlaxoSmithKline settlement
November 15, 2012
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DENVER (AP) — Colorado is getting $1.9 million as part of a settlement of allegations that the British drugmaker GlaxoSmithKline deceptively promoted the diabetes drug Avandia.
Colorado Attorney General John Suthers said Thursday that the state's portion is due the money as part of a $90 million settlement between GlaxoSmithKline and attorneys general from 38 states. The prosecutors had accused the company of failing to disclose all of Avandia's side effects and risks.
In July, a judge approved an agreement with federal prosecutors for GlaxoSmithKline to pay $3 billion to resolve alleged criminal and civil violations involving 10 drugs including Avandia. The company agreed to plead guilty to promoting the antidepressants Paxil and Wellbutrin for unapproved uses and to failing to report to the government for seven years some safety problems with Avandia.
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