GSK (GSK): Repeat After Me: Avandia Is OK
July 30, 2007 by Douglas A. McIntyreGlaxoSmithKline (GSK) wants everyone, including the FDA, to know that its diabetes drug Avadia is "safe and effective when used appropriately."
Almost everyone else thinks that the drug increases risk of heart problems.
A Food and Drug Administration safety scientist today said that "GlaxoSmithKline Plc’s diabetes pill Avandia should be removed from the market because of heart risks," according to Bloomberg.
On May 27, a prominent researcher wrote in The New England Journal of Medicine that the drug increased the risk of heart attack.
GSK wants to believe that the drug is OK, because if it is pulled from the US market its shareholders get hammered. Its stock is near 52-week lows, and it appears that it is going to get worse.
Douglas A. McIntyre
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