GSK to Pay $3B in Biggest Health Care Settlement in U.S. History

According to an announcement by the U.S. Justice Department, "Global health care giant GlaxoSmithKline LLC (GSK) agreed to plead guilty and to pay $3 billion to resolve its criminal and civil liability arising from the company’s unlawful promotion of certain prescription drugs, its failure to report certain safety data, and its civil liability for alleged false price reporting practices, the Justice Department announced today. The resolution is the largest health care fraud settlement in U.S. history and the largest payment ever by a drug company."

"Today’s multi-billion dollar settlement is unprecedented in both size and scope. It underscores this Administration’s firm commitment to protecting the American people and holding accountable those who commit health care fraud," stated U.S. Deputy Attorney General James M. Cole at a press conference today on the settlement. "Health care fraud is an epidemic that touches every aspect of our lives. And yet, 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," added his colleague, Acting Assistant Attorney General Stuart Delery.

GSK stated that the charges stem from a "different era" for the company, and its corporate mission now centers on "putting patients first, acting transparently, respecting people inside and outside the organisation and displaying integrity in everything we do."Continue reading...