New Mexico reaches settlement with drug maker over diabetes drug

Associted Press Published:

SANTA FE, N.M. -- New Mexico Attorney General Gary King says the state has reached a multimillion-dollar settlement with a manufacturer over alleged misrepresentations regarding a diabetes drug.

Prosecutors alleged that GlaxoSmithKline downplayed or misrepresented the risk of cardiovascular disease associated with the use of Avandia.

King says the settlement returns about $15 million related to consumer claims and about $3.8 million to offset Medicaid expenditures on the drug.

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