Avandia Settlement: GlaxoSmithKline Could Pay Up to $6 Billion in Lawsuits
How Much Will My Avandia Settlement Be?
After a two-year investigation by the U.S. Senate Finance Committee revealed that GlaxoSmithKline, the maker of Avandia, intentionally suppressed information about the drug’s link to heart attacks, tens of thousands of lawsuits have been filed in the U.S. alone.
The first signs of trouble started in 2007, when the FDA issued health warnings about Avandia’s link to heart attacks. Clinical studies showed that Avandia increases the risk of heart attack by 43 percent and doubles the risk after taking Avandia for just one year.
Rather than recall Avandia, the FDA issued a “black box” warning – the highest warning a drug can receive prior to an official recall. Although the FDA has updated its warning twice more (in 2010 and 2011), several European countries have taken Avandia off the market.
A drug does not have to be recalled by the FDA for patients to get an Avandia settlement, however.
It’s estimated that more than 50,000 Avandia lawsuits have already been filed, alleging that GlaxoSmithKline knowingly made false and misleading claims about Avandia and failed to adequately warn the public of serious health risks.
GlaxoSmithKline has already paid more than $770 million in Avandia settlement compensation, resolving more than 16,000 cases in multiple states across the country.
New lawsuits continue to be filed, and an additional $6.4 billion has been set aside for Avandia settlement costs. If you or someone you know developed heart disease as a result of taking Avandia, you could be entitled to receive financial compensation.