Meanwhile, The New York Times revealed on January 17 that four months after announcing severe limits on the use of Avandia in the US in an effort to stem Avandia risks, the US Food and Drug Administration (FDA) has yet to implement those restrictions.
The massive charge, which is expected to exceed GSK's quarterly profits, is on top of a $2.36 billion charge that GSK took last summer to settle about two-thirds of the existing Avandia lawsuits. That effort took care of about 10,000 claims, with 3,000 remaining.
However, in a statement to the London Stock Exchange, GSK revealed "substantial" new claims that have come in since that time.
The news came as no surprise to Dr. Steven Nissen, the noted cardiologist and chair of cardiovascular medicine at the Cleveland Clinic. He said in an e-mail to The New York Times on January 17 that "millions of patients were exposed to Avandia during 11 years on the market, resulting in 50,000 or more excess heart attacks," he said. "Most of these events occurred during a period of time when GlaxoSmithKline was aware that the company's own research demonstrated a hazard for the drug, but they failed to warn physicians or patients."
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The FDA has yet to implement those restrictions.
GSK, meanwhile, stands behind its drug and shows no signs of voluntarily pulling the drug from the market in spite of charging in excess of $6 billion against 2010 earnings to fund various legal cases in the US. In the meantime, those Type 2 diabetes patients still taking Avandia must remain aware of various Avandia side effects, including bone fractures and liver failure.