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GlaxoSmithKline pleads guilty to criminal charges, pays $3bn

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It's rare that any of the top corporate powers are hit this hard. The charges don't sound that much different from what we've seen with other pharmaceutical companies so one has to wonder what else was happening behind the scenes. We should expect the political class to return any campaign contributions received from GSK though that sounds unlikely.

The Guardian:

The company went to extreme lengths to promote the drugs, such as distributing a misleading medical journal article and providing doctors with meals and spa treatments that amounted to illegal kickbacks, prosecutors said.

"The sales force bribed physicians to prescribe GSK products using every imaginable form of high-priced entertainment, from Hawaiian vacations [and] paying doctors millions of dollars to go on speaking tours, to tickets to Madonna concerts," said US attorney Carmin Ortiz.

In a third case, GSK failed to give the US Food and Drug Administration safety data about its diabetes drug Avandia, in violation of US law, prosecutors said.
As bad as Big Pharma is, how is it that we have yet to see any criminal prosecutions or any banks admit guilt from the financial crisis?

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