A Bloomberg article reports that GlaxoSmithKline (GSK) is seeking to settle with 1000 patients who claim to be injured by the diabetes drug Avandia. There are about 5300 cases pending in state courts concerning Avandia, which was pulled from the market in Europe and meant to be used only in limited cases in the United States after reports linked Avandia use to a higher incidence of heart attack and stroke.
At one time, Avandia was the world’s best selling diabetes pill, making GSK $3 billion per year in annual sales. GSK has set aside $6 billion for legal costs associated with Avandia and their antidepressant, Paxil.
Click here to read the entire article: Glaxo May Settle 1,000 More Lawsuits Over Avandia, Patients’ Lawyer Says
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