GlaxoSmithKline

Europe's top drug maker agreed to pay more than $70 million to settle lawsuits filed by New York Attorney General Eliot Spitzer and other state attorneys general as well as consumers who claimed they had been overcharged for drugs by hundreds of millions of dollars as part of a class action. The attorney general's lawsuits claimed GlaxoSmithKline was involved in consumer fraud, commercial bribery and false statements to government health plans. Health care programs, individuals and insurers had filed a class action lawsuit claiming the company inflated the cost of drugs for people suffering from cancer and cheated the Medicaid system. (Aug-10-06) [BLOOMBERG]

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