GlaxoSmithKline announced today that it has reached a $3 billion settlement agreement with the federal government, which had been investigating the company's marketing of its diabetes drug Avandia.
GSK announced back in January that it was taking a $3.5 billion charge to cover expenses linked to investigations and suits over Avandia.
The British company, which has its North American headquarters in Research Triangle Park, has set aside more than $6 billion for legal costs tied to the drug, which has been linked to increased risk of heart attacks.
European regulators ordered Avandia off the market more than a year ago, and the U.S. Food and Drug Administration restricted its use in the United States.


In two major healthcare rulings today, European medical authorities suspended GlaxoSmithKline's Avandia while U.S. regulators said they will require stricter safety warnings for the diabetes drug that's packaged in Wake County.
GlaxoSmithKline said today it will spend a record amount of money on legal fees associated with lawsuits against its controversial diabetes drug, Avandia, and other issues.
