GSK Settles 10,000 Avandia Suits for $460M

The makers of diabetes medication Avandia, GlaxoSmithKline, have agreed to pay $460 million to settle the bulk of the lawsuits its facing over alleged heart attacks and strokes suffered by people taking the drug.

A reported 10,000 lawsuits will be settled with these monies, at about $46,000 per lawsuit. GSK was facing over 13,000 suits alleging serious adverse health events related to the drug.

GSK has agreed to the settlements just as it is getting ready to face its first Avandia trail in federal court in Philadelphia in October.

This news coincides with reports that the expert panel convened to advise the federal Food and Drug Administration on Avandia found that there is an increased risk for heart attack associated with the medication. The FDA review has been a factor in the decision by GSK to begin negotiating settlements.

GSK Settles 10,000 Avandia Suits for $460M

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