GlaxoSmithKline to pay US £1bn to settle dispute

City A.M. Reporter
GlaxoSmithKline said it had agreed to settle its most significant disputes with the U.S. government over the way it marketed and developed drugs at a cost of $3bn (£1bn), which is covered by existing provisions.

The final settlement, covering both civil and criminal claims, is expected to be finalised in 2012. It includes a Department of Justice investigation into the company's controversial diabetes drug Avandia, which has been linked to heart risks.