Arab Today, arab today glaxosmithkline to pay 3bn for fraud
Last Updated : GMT 14:03:04
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.

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*

Arab Today, arab today glaxosmithkline to pay 3bn for fraud Arab Today, arab today glaxosmithkline to pay 3bn for fraud

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 13:21 2017 Tuesday ,28 March

Samsung plans to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
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