DEVELOPING: GlaxoSmithKline Plc has agreed to plead guilty to criminal charges and pay $3 billion to settle the largest case of healthcare fraud in U.S. history, according to court filings and prosecutors.
The settlement includes $1 billion in criminal fines and $2 billion in civil fines in connection with the sale of the drug company’s Paxil, Wellbutrin and Avandia products.
READ MORE: GlaxoSmithKline settles fraud charges for $3 billion
Some more details, from Bloomberg:
In a charging document filed today, London-based Glaxo admits to illegally promoting Paxil for children and adolescents, wrongfully marketing Wellbutrin for weight loss and purposes other than those approved by U.S. regulators, and failing to report data regarding the safety of its Avandia diabetes drug to regulators. The company has agreed to admit to the charges, which are misdemeanors, according to the filings.
this is big.