Glaxo Stems Stock Slide Over Avandia

Medical chief rebuts findings on heart risks; claims comparable to other drugs

By Peter Fearon, Newser Staff

Posted May 31, 2007 6:44 AM CDT

(Newser) – Glaxo shares pulled out of a tailspin after the pharma giant defended its second biggest selling drug, Avandia, against claims that it triggers heart attacks. A sharply worded letter from the company's chief medical officer on the website of medical journal The Lancet pointed out that the increased incidence of heart attacks among Avandia patients—0.6%—was still very small.

And he said it was comparable to two other "gold standard" medicines used to treat type 2 diabetes. GlaxoSmithKline was up 50 cents in trading yesterday, but only after panic among investors wiped $21 billion off its market cap.The diabetes drug accounts for only 7% of Glaxo's shares, the Telegraph reports, suggesting the dive was an overreaction.

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Glaxo Stems Stock Slide Over Avandia

Medical chief rebuts findings on heart risks; claims comparable to other drugs

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Glaxo Stems Stock Slide Over Avandia

Medical chief rebuts findings on heart risks; claims comparable to other drugs

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OTHER STORIES ON OUR RADAR

Defending Avandia

medicine • drugs • diabetes • GlaxoSmithKline • Avandia • pharma • heart attack

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Diabetes Drug Ups Heart Risk

New study documents dangers of Avandia, but company nixes recall

Controversy Rages Over Diabetes Drug's Heart Risks

FDA official says superiors ordered her to back off serious warning

Drug Company Nemesis Strikes Again

Crusading cardiologist took on Vioxx, now Avandia, for heart risks

Feds Further Link Avandia to Heart Risk

FDA, Senate reports lambaste GlaxoSmithKline, want to yank drug

FDA Panel Votes to Keep Avandia on Shelves

Controversial diabetes drug still faces heart-attack link

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