GlaxoSmithKline plc announced November 3 that it had reached a $3 billion agreement in principle to settle various federal government investigations into its drug sales and marketing practices and alleged overbilling of Medicaid.
If the deal is finalized, it would be the largest health care industry settlement ever secured by the U.S. Department of Justice, which is in the midst of an unprecedented assault on alleged health care fraud. It is second only to Pfizer Inc.’s 2009 agreement to pay $2.3 billion to settle federal probes into its marketing of the painkiller Bextra [Big Suits, November 2009]. The Glaxo settlement would resolve what the company called the “most significant” series of government investigations keeping its lawyers up at night, including probes launched as far back as 2004.
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