Latest Avandia News: GlaxoSmithKline rumored to be settling a thousand Avandia Lawsuits
Last week Bloomberg news reported that GlaxoSmithKline was poised to settle 1000 Avandia lawsuits across the United States. Glaxo was recently reported to be setting aside nearly 6 billion dollars to help settle lawsuits stemming from the diabetes drug Avandia. Avandia has been known to cause adverse side effects in patients including heart attacks among other serious Avandia side effects. The Avandia settlement amounts, the timing of the Avandia payments, and the terms of the Avandia settlements have yet to be reported to the public.
If you have experienced side effects from taking the drug Avandia, you may want to consider speaking to an Avandia lawyer regarding your possible options. Time may be running out to make an Avandia settlement claim, please use the Avandia Case Evaluation form to have your Avandia lawsuit reviewed.
Avandia Litigation & Settlements
Bloomberg reported that GlaxoSmithKline is currently in settlement talks with 1000 Avandia patients who have suffered side effects from taking Avandia. GlaxoSmithKline has also recently said it would stop advertising Avandia in the United States and withdrawn from the European market due the Avandia side effects. The timing of the Avandia settlements is unknown. GlaxoSmithKline patent on the drug Avandia is also schedule to expire later this year. Bloomberg also reported that the 1000 or so Avandia lawsuits that may be settled are in state courts in Pennsylvania, California and Illinois.
Bloomberg also reports that those close to the Avandia litigation estimate there are a total of 5,300 Avandia lawsuits in various state courts. There are many other patients whom have yet to file an Avandia lawsuit so these numbers tend to fluctuate. GlaxoSmithKline has reported set aside 6 billion dollars to resolve its lawsuits which include Avandia lawsuits and also include antidepressant Paxil. Also two Avandia lawsuits are currently schedule to go to trial in New Mexico and California.
Avandia is prescribed for patients with type 2 diabetes and increases the Avandia’s patient’s sensitivity to insulin. Early reports in 2007 linked Avandia side effects to heart risk, which stated that use of Avandia may increase risk of heart attack by as much as 43%. Other injuries or side effects related to the use of Avandia include osteoporosis, bone fractures, back pain and edema. Backpain, hypoglycemia, blurred vision, hyperflycemia, severe allergic reaction and myocardial ischemia are other Avandia Side Effects.
GlaxoSmithKline suffered doubled digit percentage sales drop in the first quarter of 2011 mainly resulting from the money set aside for Avandia lawsuits. Sales in the United States dropped by 23%, while sales in Europe dropped 13%. The loss of sales from the drug Avandia hit GlaxoSmithKline particularly hard as Avandia sales dropped 79%. There could be more problems on the horizon for GlaxoSmithKline as the United States government has recently asked for marketing information for the drug Lovaza which lowers lipid. It has been reported that GlaxoSmithKline is cooperating with the government subpoena.
Avandia Lawyers – National Attorney Network
The National Attorney Network has connected the top pharmaceutical plaintiff's firms and Avandia lawyers in the country, with the latest information on the ongoing Avandia litigation, class action lawsuits and MDLs. Our Avandia attorneys nationwide are currently accepting pharmaceutical cases involving Avandia, Fentanyl, Rituxan, and Paxil and are investigating a number of other potentially unsafe drugs.The statute of limitations on Avandia lawsuits is based on many factors surrounding your claim. These factors include the state you file your Avandia Lawsuit in, the injuries that were suffered and type of claim made.
If you have been prescribed the diabetes drug Avandia and have experienced side effects, you may be entitled to compensation. To have an Avandia attorney review your case information please complete our Avandia Case Evaluation form.