GlaxoSmithKline Settles Avandia Lawsuit for $460 Million, Analysts See It As A Win (GSK)

July 14, 2010-- GlaxoSmithKline (NYSE:GSK) agreed to pay approximately $460 million in order settle the majority of lawsuits that alleged its Avandia diabetes drug can cause heart attacks and strokes.

The average settlement, $46,000, is considered to be a win for the firm among most analysts.

Many analysts expected a worst case scenario to have been approximately $500,000 per case.

Shares of GlaxoSmithKline are trading 0.9% higher to $36.04.

Category:

News & Politics

Tags:

• GSK
• SmarTrend

[weaverdreams77]

Hello, what about all the people who DIED? What is the value of their lives?

Western medicine is the #1 cause of death in the world. (The answer isn't to

prescribe pills to treat SYMPTOMS.)

They don't want to cure anything - they would ideally like to INVENT diseases

just to create a reason to take a new drug - and they'd like it to be FOR LIFE.

(For example: Restless leg syndrome: This is not a disease. It's a side-effect of another drug.

But why not call it a disease and prescribe an rx?)

[12dogpal]

Only $ 46,000 per person for damages to diabetic patients who ended up with heart attacks? The judge in this case was bribed, that is a ridiculously low amount of compensation for giving someone heart damage. They should have received 1 million dollars minimum each.

[bja40622]

Your comments are made out of pure ignorance!!!

[BaB3B001]

@youngplayag soo true!

[Jett430]

i would also sue the doctors who wrote out the scripts.

[DidUKno777]

yea......pill makers are always inventing remedies that people become very dependent on::::"to live"....their daily lives.

[youngplayag]

haha 1st comment you brainwashed bitches, dont worry white america I'm sure Glaxo will invent another pill to kill your ass with and make billions of dollars while doing it. and i'll wait right here for the next settlement to say I told you so, They just pay the crooked FDA to look the other way, genocide by pharmaceuticals Hitler would be proud