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Avandia settlements predicted to exceed $6 billion

March 12, 2010

Avandia settlements predicted to exceed $6 billion

The UBS (Union Bank of Switzerland) reported publicly last week that pharmaceutical giant GlaxoSmithKline PLC could end up liable for more than $6 billion in settlements and compensation for serious health complications caused by the company’s popular diabetes treatment medication Avandia. The type-2 diabetes prescription drug has been linked with severe heart problems, including heart attacks.

The U.S. Senate Finance Committee also released a report prior to the UBS announcement about the dangers associated with Avandia, as well as the more than 13,000 lawsuits currently pending against GSK and the manufacturers of similar diabetes medication in the U.S. GSK has long denied the reports and has responded to the Senate’s report as inaccurate.

The Food and Drug Administration formed a committee of medical professionals in 2007 to determine whether or not Avandia should remain available for prescriptive use, as well as if it indeed posed a risk of heart attack. The committee found that while Avandia did pose a threat for heart conditions, it was still safe enough to remain on the market. The FDA did, however, impose a black box warning on GSK as a result of the administration’s findings, and the manufacturer added the special label to Avandia, explaining that the drug was capable of causing heart problems, including heart attack.

Avandia has raised eyebrows in the medical community since 2007, when a cardiologist from the Cleveland Clinic brought light to the higher percentage chances of a person suffering a heart attack due to Avandia’s side effects. GSK eventually revealed that its own studies of the drugs revealed similar percentage risk.

If you or a loved one has experienced serious side effects, a heart attack or other health complications from using Avandia, contact Newsome Law Firm and fill out a case evaluation form today. Our team of attorneys has experience specific to complications associated with prescription medication. Not only can they give you the legal guidance you need, they can help you get the compensation you deserve.
 

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