States to receive funds from diabetes-drug suit

BOSTON – Attorney General Martha Coakley’s office announced last week that it had joined 37 other states in a $90 million settlement with GlaxoSmithKline LLC. The lawsuit resolves allegations that the pharmaceutical company unlawfully promoted its diabetes drug, Avandia, by misrepresenting its cardiovascular risks and safety profile. According to a statement, the settlement will bring more than $2.1 million to the commonwealth. More

To continue reading this article, please do one of the following.



law

States to receive funds from diabetes-drug suit

Posted 11/26/12

BOSTON – Attorney General Martha Coakley’s office announced last week that it had joined 37 other states in a $90 million settlement with GlaxoSmithKline LLC. The lawsuit resolves allegations that the pharmaceutical company unlawfully promoted its diabetes drug, Avandia, by misrepresenting its cardiovascular risks and safety profile. According to a statement, the settlement will bring more than $2.1 million to the commonwealth.

Separately, R.I. Attorney General Peter F. Kilmartin announced that Rhode Island will receive $1.2 million under the settlement.

In order to increase their sales of Avandia in Massachusetts, Coakley’s office alleges that GlaxoSmithKline promoted the diabetes drug to physicians and other health care providers with false and misleading representations about its safety and misrepresented the drug’s cardiovascular benefits when, in fact, the drug may instead increase risks.

As part of the settlement, the company agreed to reform how it markets and promotes diabetes drugs, and is prohibited from making any future false or unsubstantiated claims about its diabetes drugs.

“When pharmaceutical companies misrepresent the safety of their drugs, they put patients at risk,” Coakley said. “This settlement helps ensure that consumers will be protected from misleading marketing that can result in the unsafe use of prescription drugs.”

With the settlement, GlaxoSmithKline doesn’t admit any wrongdoing, The Associated Press reported. •

Calendar
PBN Hosted
Events

Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot by December 31st and get a holiday gift from PBN!
  • Best Places to Work
    Enrollment is now open for the 7th annual Best Places to Work program. Winners w ...
  • Manufacturing Awards
    Applications are now being accepted for the 2nd Annual Manufacturing Awards. Dea ...
Advertisement
Purchase Data
Book of Lists
Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  •  
  • Purchase an e-File of the entire Book of Lists database
  •  
  • Purchase a printed copy of the Book of Lists
  •  
    National
    Local
    Latest News
    Advertisement