Drug company GlaxoSmithKline will pay $3 billion for allegations that they used deceptive marketing, misbranding products, and failed to report safety data.
A drug company finally held accountable?? How did that happen? Well they didn't pay their dues to the politicians.
Barack Obama and Democrat campaign committees were some top recipients of Glaxo's political contributions in 2007-2009. Obama received $51,909 according to report. Did this help make federal investigations into harmful drug effects disappear, though they continued in England and New Zealand?
But then Glaxo made the biggest mistake of their lives.
"GlaxoSmithKline PLC said Monday it will no longer use corporate funds for political contributions as part of an effort to improve openness in its business.
The U.K.-based drug maker in the past has made direct corporate contributions to political candidates primarily in the U.S. and Canada. Glaxo has donated more than $585,000 in the U.S. this year and 58,000 Canadian dollars last year in Canada, spokeswoman Sarah Alspach said. Those contributions will now stop.
"We need to ensure that there is no implication whatsoever that corporate political contributions provide us with any special privileges," Glaxo Chief Executive Andrew Witty said in a statement" -(online.wsj.com)
But when you are a drug company you need to pay off Barack Obama. They are listed as giving a tenth of what they gave him in 2008.
Let this be a lesson to all of you!