GSK would not split out the precise breakdown of the £2.2bn figure, but the bulk of it relates to the estimated settlement from an investigation led by the US attorney’s office for the District of Colorado for US sales and promotional practices between 1997 and 2004, including for its anti-depressant treatments Paxil and Wellbutrin.
Such probes typically focus on “off-label” promotion by drug companies to doctors of their medicines for uses beyond the official “label” of indications that have been formally approved by the US Food and Drug Administration.
The charge also includes an unspecified amount to cover continuing product litigation claims by patients linked to Avandia, GSK’s former blockbuster diabetes drug that was all but withdrawn in the US and Europe late last year after concerns about cardiovascular side-effects.
Tuesday, January 18, 2011
FT.com - GSK takes record £2.2bn charge
via ft.com
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