According to an international organization serving the diabetes community, GlaxoSmithKline may be held liable to pay more than $1 billion to settle Avandia lawsuits to recover financial compensation for heart attack, stroke and congestive heart failure and wrongful death damages cause by use of the once popular diabetes treatment Avandia. The drug product liability litigation of many of the first Avandia lawsuits filed have reached the point where Avandia settlements are expected to be forthcoming in the near future.
It has been reported that about 700 Avandia plaintiffs are reaching a pre-trial settlement for a total amount of around $60 million. The CEO of Glaxo, Andrew Witty, is reported to be “looking to reach settlements in the cases as soon as possible.” Even if the cases are settled, the 13,000 Avandia lawsuits in total may cost Glaxo settlements costs in excess of $1 billion. Previously, it was reported that Avandia lawsuit settlements could top $6 billion.
A clinical trial regarding the safety and efficacy of the diabetes drug still is underway. A joint FDA drug advisory committee meeting in July is expected to decide whether the study (known ads the TIDE trial) will be allowed to continue and whether the drug finally will be recalled.