Hardly a month goes by without more horror stories concerning the pharmaceutical industry. Glaxo are back in the frame with another massive amount of money set aside for compensation. GlaxoSmithKline has set aside a further £2.2bn to cover the mounting bill for the controversial diabetes treatment Avandia. The drug killed thousands of people.
The latest hit follows a damaging US investigation last year, which found the drug increased the chances of a heart attack in patients. The damning verdict triggered an avalanche of litigation against Glaxo, which took a £1.57bn hit in the summer largely to pay for the Avandia debacle.
“We recognise that this is a significant charge, but we believe the approach we are taking to resolve long-standing legal matters is in the company’s best interests.
Glaxo added: ‘We have closed out a number of major cases over the last year and we remain determined to do all we can to reduce our litigation risk”
I bet they are, and if it includes lying and falsifying trial data, it won’t be the first time. It is amazing the amount of type 2 diabetics, that have such faith in pharma drugs, especially when the reduction in HbA1c they produce are minimal, yet the risks are so often very high. The corruption and exploitation continues.
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