glaxosmithkline to pay 3bn for fraud
Last Updated : GMT 13:26:10
Arab Today, arab today
Arab Today, arab today

GlaxoSmithKline to pay $3bn for fraud

Arab Today, arab today

Arab Today, arab today GlaxoSmithKline to pay $3bn for fraud

London - DW

GlaxoSmithKline has been fined billions after admitting to promoting their drugs using dubious methods. It is the biggest pharmaceutical payout in history. British drug-making giant GlaxoSmithKline (GSK) was hit with $3 billion (2.38 billion euros) worth of fines by American authorities on Monday after it was found guilty of fraud. The charges included marketing drugs for unauthorized reasons; retaining safety information; and cheating the US Medicaid program.  The case has been referred to as the biggest healthcare payout in history. \"Today\'s resolution is significant not just because GSK\'s conduct was egregious or because it is the largest health care fraud settlement in the department\'s history,\" acting Assistant Attorney General Stuart Delery said. \"For far too long, we have heard that the pharmaceutical industry views these settlements merely as the cost of doing business. That is why this administration is committed to using every available tool to defeat health care fraud,\" he added. GSK, one of the world\'s biggest pharmaceutical firms, pleaded guilty on three counts and agreed to pay fines for their conduct. Its misconduct is traceable back to the late 1990s until 2007. A catalogue of damning charges The company pled guilty to claims that it had pushed the antidepressants Paxil and Wellbutrin for uses other than those with explicit approval from US authorities, including usage on children and adolescents. The company also offered inappropriate kickbacks. Carmen Ortiz, the US attorney for Massachusetts who was part of the team working on the case, said physicians were tempted with gifts including concert tickets and vacations in Hawaii in order to secure their endorsement of GSK\'s drugs GSK will pay up to $1 billion to cover criminal fines and forfeitures. It will also have to cover $1.7 billion worth of civil fines for illegally promoting drugs, and making claims about the safety and effectiveness of the diabetes drug Avianda. A further $300 million will go towards settling rebates it owes to US Medicaid. GSK chief: it\'s all in the past GSK\'s Chief Executive Officer Andrew Witty commented on the ruling by insisting that it took place \"in a different era for the company.” \"I want to express our regret and reiterate that we have learnt from the mistakes that were made,\" he said in a written statement. GSK has said that it will settle the fine using its existing cash stockpile. The case is in line with America\'s increasing eagerness to crack down on methods employed to sell legalized drugs, a drive which is partly fuelled by the increasing costs of drug provision through government programs.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

glaxosmithkline to pay 3bn for fraud glaxosmithkline to pay 3bn for fraud

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

glaxosmithkline to pay 3bn for fraud glaxosmithkline to pay 3bn for fraud

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today PNG police start removing refugees

GMT 03:00 2017 Friday ,24 November

PNG police start removing refugees
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Solaf happy for participating in “Hotline”

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday