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Pharma firm GlaxoSmithKline forced to pay record $3 billion fraud settlement

New illicit drugs are appearing on the European Union market at a rate of nearly one a week, the European Monitoring Centre for Drugs and Drug Addiction has said. (AFP Photo/Philippe Huguen)

GlaxoSmithKline was socked with $3 billion in fines by US authorities Monday over charges it marketed drugs for unauthorized uses, held back safety data, and cheated the government’s Medicaid program. The Justice Department said GSK was fined over misbranding its drugs Paxil and Wellbutrin, and for holding back data while…

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White House, big banks close to foreclosure fraud settlement

A foreclosed home. Image via AFP.

The White House, state attorney generals, and the nation’s big banks are reportedly close to a $25 billion settlement on allegations on foreclosure fraud, according to the Huffington Post. The settlement would be based on homeowners who were either illegally foreclosed on or underwater on their mortgages. Those cases would…

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