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If they are successful, that could end much of the long-running litigation over the drug and greatly reduce the risk of hefty damage awards or settlements, which has weighed on companies' shares ...
The settlement amount includes both the civil (False Claims Act) settlement and criminal fine. Glaxo's $3 billion settlement included the largest civil False Claims Act settlement on record, [1] and Pfizer’s $2.3 billion ($3.5 billion in 2022) settlement including a record-breaking $1.3 billion criminal fine. [2]
The following are settlements reached with US authorities against pharmaceutical companies to resolve allegations of "off-label" promotion of drugs. Under the Federal Food, Drug, and Cosmetic Act, it is illegal for pharmaceutical companies to promote their products for uses not approved by the Food and Drug Administration (FDA), and corporations that market drugs for off-label indications may ...
The Los Angeles Times headlined "Public Faces Overdose of Similar Drug Names." [14] The market for Zantac [15] and its competitors was described in 2005 as 13.5 billion US dollars. [16] The product's problem was described by The New York Times as being "that a potential cancer-causing contaminant can build up in the drug when stored for long ...
GSK on Wednesday said it agreed to settle another lawsuit in California alleging its discontinued heartburn drug Zantac caused cancer, as the British drugmaker sought to end costly litigation that ...
Pharmaceutical companies have been the subject of many massive settlements over unlawful drug promotions, but the largest to date was GlaxoSmithKline's $3 billion agreement in 2012. The total ...
The following is a list of the 21 largest civil settlements, reached between the United States Department of Justice and pharmaceutical companies from 2001 to 2017, ordered by the size of the total civil settlement. Some of these matters also resolved criminal fines and penalties, listed in parentheses, but these amounts are not considered when ...
Many of these cases have lead to class action lawsuits and proceedings by the Federal Trade Commision (FTC), resulting in a number of settlements worth millions — or even billions — of dollars ...