Glaxo faces Avandia class action suit as well as individual user lawsuits
An Avandia class action suit has been filed against GlaxoSmithKline, PLC, the maker of the Type 2 diabetes medication. The lawsuit was filed by shareholders who claim that they were misled by the company about the increased risk of heart attacks and heart related death, which has recently been linked to the drug. The company also faces thousands of potential individual Avandia lawsuits from users who took the drug and suffered an injury.
>>INFORMATION: Avandia lawsuits
The federal class action claim was filed against Glaxo, as well as their CEO and CFO in the Southern District of New York. The law suit claims that the company breached their fiduciary duty to shareholders when they failed to disclose that their own analysis of data from clinical trials demonstrated that Avandia side effects increase the risk of heart attacks for those with Type 2 diabetes.
Information regarding the dangers of Avandia did not become known by shareholders and consumers until an independent study was released May 21, 2007 by the New England Journal of Medicine. Dr. Steven Nissen, the same researcher who highlighted problems with the arthritis drug Vioxx prior to its recall in 2004, performed a meta-analysis of data from 42 different clinical trials involving nearly 28,000 patients. His research indicates that users of Avandia face a 43% increased risk of heart attacks, and a 64% increased risk of heart related death when compared with those using other treatments.
>>INFORMATION: Avandia side effects
Following the release of this study, Glaxo disclosed that their own analysis of this data showed that the risk could be increased by 30%. Although, they provided this information to the FDA and foreign drug regulators as early as 2005, they failed to warn users or disclose this information to investors. Since the report was released, sales of the drug have dropped sharply as doctors and diabetes patients seek Avandia alternatives.
AVANDIA LAWSUITS
Individuals who used Avandia are also pursuing lawsuits against the manufacturer for failing to provide information regarding the risks associated with the drug. The diabetes medication has been used by over 6 million people worldwide, and some reports indicate that as many as 100,000 heart attacks could have been caused by Avandia.
The Avandia lawyers at Saiontz & Kirk, P.A. are reviewing potential lawsuits for users who suffered a heart attack, congestive heart failure or a heart related death. Cases are being reviewed nationwide for users in all 50 states. To determine if you, a friend or family member may be entitled to compensation, request a free Avandia claim evaluation.
2 Comments • Add Your Comments
andrew says:
dad was on avandia for years asked md to change d/t recalls states unable needs to have a1c down was changed to avandaryl. In2008 dad admitted for sob and cold sx and o2sat below 80% dx chf he had no cardiac hx
Posted on February 26, 2010 at 3:06 am
melissa says:
my father took avandia for years. he died nov 2007
Posted on January 30, 2011 at 11:22 am