GlaxoSmithKline expects to take a £1.57bn ($2.41bn) charge to resolve several long-running legal battles, including a probe into a former plant and litigation related to Paxil and Avandia, two blockbuster drugs.
The pharmaceuticals group announced the charge yesterday, a day after advisers to US regulators eased the risk that diabetes drug Avandia would be withdrawn from the market.
The £1.57bn includes £500m that GSK has provisionally agreed to pay to settle an investigation by the US government into alleged manufacturing problems at GSK's former facility in Cidra, Puerto Rico.
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