Glaxo to pay 460 Million to Settle Most Avandia Cases
Written By: Rheingold, Giuffra, Ruffo & Plotkin LLP
GlaxoSmithKline has agreed to pay $460 Million dollar to settle roughly 12 thousand lawsuits that have been filed over Avandia, a diabetes pill. The worst case scenario that Glaxo had outlined was paying $500,000 for all of the claims which would've totaled $6 billion.
An FDA advisory committee will vote today on whether or not to withdraw Avandia from the market after there has been concern about the cardiovascular risks associated with the drug. There has been much speculation about how the drug was approved, and whether information was excluded in order to win teh approval from the FDA.
The attorneys at Rheingold, Giuffra, Ruffo & Plotkin LLP are experienced product liability lawyers who have handled multiple drug manufacturer liability cases. We this news closely to see if the drug will be withdrawn from the market. Contact us if you believe you have been injured as a result of the harmful side effect from a drug to speak with a lawyer to help protect your rights.