GlaxoSmithKline Settles Drug Case

New York Attorney General Eliot Spitzer and GlaxoSmithKline(GSK Quote) on Thursday announced a settlement in which the U.K.-based drugmaker agreed to release previously unpublished data about the safety and effectiveness of the antidepressant drug Paxil.

The settlement comes after Spitzer sued the company in June, alleging that since 1998 it had committed "repeated and persistent fraud" by "concealing and failing to disclose" information to doctors about Paxil's impact on children.

The company said that although the charges in Spitzer's suit "are unfounded," it had agreed to pay the state $2.5 million "to avoid the high costs and time required to defend itself in protracted litigation." ...