Glaxo settles deceptive advertising case

GlaxoSmithKline (GSK +0.1%) pays $177M to the states of KY, MD, MS, SC, UT and WV to settle a lawsuit accusing the company of using deceptive advertising regarding its diabetes drug Avandia by misrepresenting the safety and efficacy of the product. The plaintiffs claimed that Glaxo stated that Avandia reduced adverse cardiac events when, in fact, it actually increased them.

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