(London, UK – February 10, 2011) GlaxoSmithKline (GSK) posted Thursday a net loss of 690 million pounds ($1.12 billion) after taking a 2.2 billion pound charge for the Avandia settlements. GSK is the world’s third leading pharmaceutical company with over 90,000 employees all around the world. It has a portfolio of products for major diseases [...]
(February 10, 2011) U.S. Food and Drug Administration (FDA) announced Thursday that updated information of Avandia side effects has been added to physician labeling and patient Medication Guide. The FDA, a federal agency of the United States, is responsible for protecting and promoting public health through the regulation and supervision of food safety, medications, and several [...]
Three months ago, pharmaceutical maker GlaxoSmithKline agreed to pay $750 million to resolve a U.S. government false-claims lawsuit over charges that the company knowingly manufactured and sold adulterated drugs. The affected medications involved in the suit included the heavily prescribed antidepressant, Paxil and Avandia, a medication taken for type II diabetes. This week, the whistleblower [...]
Reports said Monday that GlaxoSmithKline 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 [...]
Chinese health officials announced that they will closely monitor any issues and concerns about the anti-diabetes drug Avandia. After the rise of relative concerns about the use of the drug in the U.S. and Europe, Shanghai’s Food and Drug Administration officials said that they will watch over the drug and will look for any problems [...]
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