5 Most Fined Pharmaceutical Companies in the World

1. GSK plc (NYSE:GSK)

Total fines incurred by the company from 2003 to 2016 (in millions): $9,775

With more than double the fines of the second placed company, GSK plc (NYSE:GSK) easily tops the list of the 10 most fined pharmaceutical companies in the world. GSK plc (NYSE:GSK) is one of the biggest pharmaceutical companies in the world recording revenues of more than £34 billion in 2021. While GSK plc (NYSE:GSK) was in the news recently for spinning off its consumer division into a new company known as Haleon.

GSK plc (NYSE:GSK) claimed an unwanted record in 2012 when it was fined the largest settlement in history for a drug company back in 2012. The settlement of $3 billion included a fine of $956 million and forfeiture of $43 million while, the remaining amount covered a civil settlement with the government. This fine was levied after whistleblowers unveiled that the company failed to report safety data pertaining to Avandia and promoted Paxil and Wellbutrin, both anti-depressants for unapproved uses. False best prices and underpayment of rebates added to the charges against the pharmaceutical giant. Not only did it have to pay the fine, GSK plc (NYSE:GSK) had to sign a corporate integrity agreement which forced the company to change the way it operates including compensation programmes for executives and sales force. As can be seen from the total fines amount, this was not the only time the company engaged in illegal practices, which is why its total fines are currently just shy of $10 billion.

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