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Glaxo agrees to pay record $3 billion settlement for fraud and hiding drug safety data

In a year of billion-dollar settlements involving drug manufacturers, GlaxoSmithKline (GSK) has topped them all. The British pharmaceutical company has agreed to pay a record amount—$3 billion—to resolve criminal charges for promoting its best-selling antidepressants for unapproved uses and failing to report safety data about Avandia, a much-prescribed diabetes drug. Also, the deal settles lawsuits stemming from improper marketing of six other medications.