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GlaxoSmithKline Agrees to Pay $3 Billion in U.S. Drug Settlement

July 2 (Bloomberg) -- GlaxoSmithKline Plc agreed to plead guilty and pay a $3 billion settlement to resolve criminal and civil charges linked to the company’s illegal promotion of prescription drugs and its failure to report safety data, according to a U.S. Justice Department statement today.

The agreement is the largest health-care fraud settlement in the U.S. and the largest payment by a drug company, the department said in the statement.

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To contact the reporter on this story: Seth Stern in Washington at sstern14@bloomberg.net

To contact the editor responsible for this story: Justin Blum at jblum4@bloomberg.net

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