'Drugmaker GlaxoSmithKline has preliminarily agreed to a $3 billion settlement over the sales and marketing practices of several of its drugs, including the diabetes drug Avandia.
This represents the largest federal drug-company settlement to date, surpassing the $2.3 billion paid by Pfizer in 2009 for illegally promoting off-label uses of four of its drugs. The sum, though extraordinarily large by most people's standards, represents only a slap on the wrist to the drug giant, which assured investors the payments would be funded by "existing cash resources."
To put things into perspective, GlaxoSmithKline has a market value of more than $110 billion, according to the New York Times.'
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