GlaxoSmithKline (GSK) Reaches $150 Million Settlement in Nasal Spray Litigation
12/20/2012 6:55:48 AM
Drug giant GlaxoSmithKline (NYSE: GSK) has agreed to pay several U.S. wholesalers $150 million to settle a lawsuit in which the company was accused of delaying generic alternatives to its Flonase nasal spray. “GSK confirms that is has reached an amicable resolution with the plaintiffs to bring these matters to a close," a company spokesperson told the U.K. Telegraph. "The parties agree that the settlement is not an admission or evidence of any violation of any statute or law, or of any liability or wrongdoing by GSK," the spokesperson added. "We have entered the settlement to remove the protracted disruption, expense, and uncertainty of continuing litigation.” The settlement was reported by the British newspaper and the LexisNexis news service Law 360. The companies suing GSK said the firm had filed "sham" petitions to delay generic rivals to Flonase. The federal judge involved in the case has been asked to approve the settlement.