Avandia Lawsuit Settlements
GlaxoSmithKline Pay Avandia Claims to Avoid Lawsuits
Glaxo officials have agreed to pay at least $700 million over the last eight months to resolve about 12,000 suits alleging the drugmaker failed to warn consumers that Avandia could cause heart attacks and strokes, people familiar with the accords told Bloomberg News earlier.
GlaxoSmithKline to pay 1,000 Avandia Lawsuits
Glaxo, the U.K.’s biggest drugmaker, is in settlement talks with lawyers for an estimated 1,000 former Avandia users who sued the company in state courts in Pennsylvania, California and Illinois, Dianne Nast, a plaintiffs’ attorney who serves on a group helping to oversee cases consolidated in federal court in Philadelphia, said in an interview yesterday.
Avandia Settlements in the L.A. court have paid 2,400
Settlement talks in state court in Los Angeles already have resulted in 2,400 former Avandia users settling their claims, Nast told the judge. The lawyer said she expected the talks to generate about another 200 settlements in state court in Philadelphia and an undetermined number in Illinois.
Glaxo puts 6 Billion in Reserve for Avandia and other Drugs
Glaxo said in January it was taking a $3.5 billion charge to cover expenses linked to investigations and suits over Avandia and sales practices on other drugs. The reserve brings to more than $6 billion the amount the drugmaker has set aside for legal costs tied to Avandia and other drugs, such as its antidepressant Paxil.