GlaxoSmithKline Guilty in $3-Billion Drug Case

GlaxoSmithKline | BCBusiness
One of the world’s largest drug companies was slapped with a $3-billion fine in a massive drug fraud case.

The British pharma giant will pay one a heavy price for the largest drug fraud scandal in U.S. history.

Morgan Stanley execs are likely rejoicing to be out of the news cycle as another massive corporate corruption case grabs the headlines. GlaxoSmithKline, the massive pharmaceutical corporation out of the United Kingdom, will soon be $3 billion poorer after agreeing to settle in a drug fraud case over the long weekend.
 
The company plead guilty in the egregious scandal, where the company marketed antidepressants Paxil and Wellbutrin and diabetes drug Avandia for uses not approved by the U.S. Food and Drug Administration.
 
The prosecution accused GSK of marketing antidepressants to children and for unapproved uses such as to treat obesity, sexual dysfunction and ADHD. Additionally, the company lied to consumers about the safety and practicality of these drugs and is accused of offering kickbacks for doctors who agreed to prescribe the medications.
 
The fraud was perpetrated in almost every state, which explains the massive fine. As the largest health fraud settlement in the country’s history, the U.S. Justice Department hopes the startling amount will deter other drug companies from committing similar heinous acts of fraud on unsuspecting consumers.