GlaxoSmithKline Reaches Paxil Settlement
GlaxoSmithKline agrees to $63.8 million settlement in Paxil lawsuitNov 1, 2006 | AP
GlaxoSmithKline PLC has agreed to pay $63.8 million to settle a lawsuit's claims that it promoted its antidepressant drug Paxil for use by children and adolescents while withholding negative information about the medication's safety and effectiveness.
Actual payments to consumers will depend on the amount of claims. If there is not enough money to pay all the claims, consumers will get only a portion of the amount they otherwise could have gotten.
Madison County Associate Judge Ralph Mendelsohn approved the settlement on Oct. 6 and unsealed it Oct. 27. He will hold a hearing March 9 on whether the settlement is fair and whether the plaintiffs' attorneys are entitled to the fee they request. Messages were left Wednesday with U.S. representatives of London-based GlaxoSmithKline PLC.