Another New Study Rips Avandia
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According to analysis published by the the Cochrane Library, “A new meta-analysis of 18 studies finds that Glaxo’s diabetes pill doesn’t “positively influence” the health of diabetics, reduce death, improve quality of life, but does contribute to weight gain, swelling, heart risks and broken bones.
“Avandia was Glaxo's second-best selling drug and brought in $3.3 billion for the London-based drugmaker in 2006, before a May 21 New England Journal of Medicine report linked it to a 43 percent increase in the risk of heart attacks. The U.S. Food and Drug Administration will review the medicine's safety and effectiveness at a July 30 meeting,” Bloomberg stated in an article Wendsday.
Since the original study several months ago, GlaxoSmithKline has experienced a fallout in their shares. Glaxo shares have lost 12 percent of their value since the report, They fell 31 pence, or 2.4 percent, to close at 1,269 pence in London.
Despite all the recent findings, the company is still backing the safety of the drug. GSK has taken out advertisements supporting the Avandia’a safety record in both the New York Times and USA Today newspapers. Glaxo has also warned lawyers to stop running what it considers to be false and misleading television ads seeking to represent patients on Avandia.
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