6 Pharma Giants Who Were Smacked By Government Watchdogs

1. GlaxoSmithKline
Settlement: $3 billion

The British drug manufacturing giant GlaxoSmithKline settled to appeal guilty to illegal charges of unlawfully marketing drugs and withholding safety data from U.S. officials. In July 2012 the company was accused of marketing two anti-depressants Paxil and Wellbutrin to minors.

This Glaxo's fourth settlement with the U.S. government over the years and is considered to be the costliest of all. The company had to pay $3 billion to the U.S. authority.

2. Pfizer
Settlement: $2.3 billion

Pfizer is the world’s biggest drug manufacturer headquartered in New York City. The company was smacked by the U.S. government for its repetitive offence of marketing drugs to patients and doctors for unapproved uses.

In 2004 Pfizer appealed guilty to a previously charged offense of sales strategies and its actions have been under U.S. supervision since then.

"If another one of these charges crops up, it would raise questions whether Jeff Kindler is keeping everyone at Pfizer on a tight enough leash," said Miller Tabak analyst Les Funtleyder, referring to Pfizer's chief executive officer, reported Reuters.

The company had to pay fine worth $2.3 billion for selling the drug Bextra, which was pulled out of the market due to safety issues.

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