U.S. Markets close in 3 hrs 27 mins

Ore. to get $4M in diabetes drug settlement

PORTLAND, Ore. (AP) -- Oregon Attorney General Ellen Rosenblum says the state will get nearly $4 million in a multistate settlement with GlaxoSmithKline over the diabetes drug Avandia.

Rosenblum said Thursday that GlaxoSmithKline will pay $90 million to 38 states to settle a suit alleging it misrepresented the cardiovascular risks of the drug.

A spokesman, Jeff Manning, says much of the Oregon money will fund the Department of Justice consumer protection operation, and about $400,000 will go to state agencies, such as the Department of Corrections, that bought the drug.

The company said in a statement it had acted responsibly and didn't admit wrongdoing in settling the case. It said it did so to avoid litigation expense and uncertainty.