We wrote last week about Avandia, the diabetes drug from Glaxo, under fire since a prominent cardiologist named Steven Nissen said that use of the drug could cause a higher risk of heart attacks. Diabetics are already in a high risk group for heart attacks, but Nissen concluded that Avandia use increased that risk.
Where the FDA has yet to act, the plaintiff's bar moved fast. On Monday, a New York law firm filed suit against Glaxo, its CEO and its CFO. This suit doesn't have the drama of a health-related suit. Instead, the case, for which firm Kaplan Fox & Kilsheimer are reportedly seeking class-action status, accuses the company of misleading shareholders about Avandia's safety.
Whether the truth comes out as a result of regulatory or legal action is moot. With a growing diabetes epidemic, knowing the truth fast is critical.
In related news, pharma giant Eli Lilly settled nearly 1,000 lawsuits stemming from its drug, Zyprexa. News reports peg the number of cases resolved at approaching 30,000. Zyprexa allegedly causes diabetes.
Labels: Avandia, Eli Lilly, Glaxo, Zyprexa
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