Drug giant Glaxo seals £1.9bn deal over US fines

Drugs giant GlaxoSmithKline yesterday agreed to one of the largest fines ever levied on a pharmaceuticals firm as it settled a trio of long-running disputes with the US government.

The UK firm will pay $3 billion (£1.9bn) to end separate legal cases that stretch back to 1997 and relate to the sales and marketing of nine drugs.

Shares nudged almost 2 per cent higher as analysts said the payment cleared up some of the uncertainty surrounding Glaxo’s US litigation, especially as the firm did not expect to have to pay any additional cash in the final settlement.