Anti-depressant costs Glaxo $1 billion in lawsuits
Thursday, December 17th, 2009
The popular anti-depressant Paxil has earned many billions for GlaxoSmithKline, and hundreds of lawsuits.
Paxil has been held up as having helped countless people battle depression, but it's also accused of causing birth defects, addictions and suicides. GlaxoSmithKline, which makes Paxil and has headquarters in Philadelphia, has paid nearly $1 billion to settle those allegations, according to the latest tally from Bloomberg.
According to Bloomberg, GSK spent hundreds of millions of dollars to settle hundreds of suicide and addiction cases. In Philadelphia last month a jury awarded a family $2.5 million in the first birth defects lawsuit to go to court. A boy was born with heart defects after his mother took Paxil while pregnant.
On top of those settlements, the company has paid $400 million for antitrust and fraud claims related to Paxil. This may not be the end; hundreds more plaintiffs are awaiting their day in court.