Glaxo Avandia Settlement [latest news]
Posted by shutah on January 25, 2011
Oh Dear!! GSK in the spotlight a lot this week.
Reports said Monday thatGlaxoSmithKline is bound to face a multi-district litigation amounting to an estimated $3.4 billion against its anti-diabetes drug, Avandia.
According to the reports, a number of pending litigations against Avandia, an oral anti-diabetic agent which acts primarily by increasing insulin sensitivity, are filed in different states of America. Federal courts’ records show that more than 50,000 complaints were reported against the adverse effect of Avandia.
In 2010, Glaxo already settled an approximated 10,000 Avandia cases with an average settlement of $460 million. On Monday, another lawsuit was heard in the US District Court for the Eastern District of Pennslyvania. The lawsuit involves a claim filed by the relatives of James Buford, a diabetic patient who had been taking Avandia for 15 months, after the latter died of heart attack.
The incident proves a meta-analysis of 42 clinical studies, saying that daily intake of the anti-diabetes drug can relatively increase the risk of myocardial ischemic attack such as angina pectoris and myocardial infarction. Buford’slawyer argued that approximately three weeks after Buford started takingAvandia, the patient suffered symptoms that suggested a mild heart attack. Earlier this month, Glaxo announced that it was reserving $ 3.4 billion to cover the contingency loss brought by the Avandia lawsuits.
Meanwhile, a second trial against Avandia is scheduled to begin on March 28 this year, which involves a patient who allegedly used the drug and suffered congestive heart failure from Avandia. Experts said that Avandia has caused 60,000 and 200,000 heart attacks and deaths due to cardiovascular problems in the United States from 1999 to 2006. Glaxo is currently under investigation by the US Department of Justice and several other state lawyers for potential fraud.
Wouldn’t it be great if the UK ‘Justice Department’ investigated Glaxo on behalf of all those, past and present, who suffer at the hands of their drug Seroxat/Paxil?