Global Briefs: Biogen & GSKBy
A roundup of news from Biogen and GlaxoSmithKline.
* Biogen Settles Litigation for $900 M
* GSK Names New CFO
Biogen Settles Litigation for $900 M
Biogen has reached a final agreement to pay $900 million to the US government and 15 states to settle litigation relating to allegations that the company caused the submission of false claims to Medicare and Medicaid by making improper payments to physicians to induce them to prescribe Biogen drugs.
The settlement resolves a lawsuit filed and litigated by a former Biogen employee against Biogen under the qui tam provisions of the federal False Claims Act, which permit a private party (known as a relator) to file a lawsuit on behalf of the US and receive a portion of any recovery. The US may intervene in the action or, as in this case, the relator may proceed with the lawsuit.
“Biogen believes its intent and conduct was at all times lawful and appropriate and Biogen denies all allegations raised in this case,” said the company in a September 26, 2022 statement. The US and the states did not intervene in the case and the settlement does not include any admission of liability by Biogen.
Source: Biogen and the US Department of Justice
GSK Names New CFO
GlaxoSmithKline (GSK) has named Julie Brown, currently Chief Operating and Financial Officer, Burberry Group, as GSK’s Chief Financial Officer (CFO), effective May 1, 2023. Iain Mackay, GSK’s current CFO, plans to retire and will step down as CFO and as an Executive Director of the GSK’s Board in May 2023. Brown will join GSK in April 2023 and will work with Mackay to transition responsibilities, taking responsibility as CFO and as an Executive Director of GSK May 1, 2023.
Prior to joining the Burberry Group, Brown was the Group CFO of Smith & Nephew from 2013-2017. Before this, she was Interim Group CFO of AstraZeneca, having worked at the company for 25 years in finance, commercial and strategic roles. She has also served as a Non-Executive Director and Audit Chair of Roche Holding AG.