"GlaxoSmithKline has set aside £2.2bn (US$3.4bn) in the fourth quarter of 2010 to cover legal costs. The charges relate to its diabetes drug Avandia, and a federal investigation into the company's sales and promotional practices for nine other products in the United States. Avandia was banned in Europe last year while the US restricted its use because of a suspected link to heart disease. The charge is in addition to a £1.57bn charge Glaxo announced in July. That was to cover various legal settlements, including claims over Avandia, as well as antidepressant Paxil and an investigation into standards at a factory in Puerto Rico" - BBCMonday, January 17, 2011
GlaxoSmithKline: US$3.4bn charge over Avandia and legal case
"GlaxoSmithKline has set aside £2.2bn (US$3.4bn) in the fourth quarter of 2010 to cover legal costs. The charges relate to its diabetes drug Avandia, and a federal investigation into the company's sales and promotional practices for nine other products in the United States. Avandia was banned in Europe last year while the US restricted its use because of a suspected link to heart disease. The charge is in addition to a £1.57bn charge Glaxo announced in July. That was to cover various legal settlements, including claims over Avandia, as well as antidepressant Paxil and an investigation into standards at a factory in Puerto Rico" - BBC
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