Drug giant AstraZeneca has been working on a back room legal settlement deal with the U.S. government since last fall. And according to a New York Times investigation, the company has earmarked $520 million for the purpose.
According to the Times, the final arrangement will wrap up two federal investigations: one related to doctors who participated in clinical trials of the drug and another involved the company’s sales organization. The company allegedly misled both doctors and patients about the safety of its atypical anti-psychotic drug Seroquel, downplaying the known risks of weight gain and diabetes.
AstraZeneca has repeatedly denied any wrongdoing.
The drugmaker will pay $520 million in criminal fines and sign a corporate integrity agreement to settle probes into its marketing of the anti-psychotic drug. But the company will not face any criminal charges. Continue reading