Glaxo Reaches $229 Million Settlement With 8 States on Avandia
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GlaxoSmithKline Plc has reached a $229 million settlement in principle with eight U.S. states to resolve lawsuits relating to the development and marketing of its Avandia diabetes drug, and a separate action from Louisiana for other products.
The amount is within existing provisions set aside for legal matters, the London-based company said in a statement yesterday.