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Drug company pleads guilty in largest fraud case ever

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Pharmaceutical giant GlaxoSmithKline has agreed to plead guilty to misdemeanor fraud charges and pay a fine of $3 billion in order to settle the largest healthcare fraud case in U.S. history. 
 
Justice Department prosecutors claimed that GSK broke laws during the development and marketing of several of its most well-known medications. 

GSK was accused of withholding safety data on its diabetes drug Avandia, marketing the antidepressant Paxil to underage patients and providing what amounted to illegal kickbacks to doctors who prescribed the drugs. 

The British drug maker said it will pay the fines using cash reserves.