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Industry: Email Alert RSS FeedGLAXOSMITHKLINE (GSK).
Investors Chronicle, September, 2004
Investors in GlaxoSmithKline breathed a sigh of relief as the drug giant announced that it has settled the high profile lawsuit, filed by New York Attorney General and Governor candidate Eliot Spitzer, regarding the use of its anti-depressant Paxil in children. The pharmaceuticals giant is paying a paltry $2.5m to settle Mr Spitzer's action, which dramatically alleged Glaxo had suppressed trial data suggesting that the drug increased the onset of suicidal thoughts in children suffering from depression. Analysts had feared that Glaxo would have to cough up a much larger payout than this and that the litigation could, in true American fashion, spark a series of class action lawsuits.
In the event Glaxo, has come up smelling of roses. It took the initiative of...
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