GlaxoSmithKline (GSK) wants everyone, including the FDA, to know that its diabetes drug Avadia is "safe and effective when used appropriately."
Almost everyone else thinks that the drug increases risk of heart problems.
A Food and Drug Administration safety scientist today said that "GlaxoSmithKline Plc’s diabetes pill Avandia should be removed from the market because of heart risks," according to Bloomberg.
On May 27, a prominent researcher wrote in The New England Journal of Medicine that the drug increased the risk of heart attack.
GSK wants to believe that the drug is OK, because if it is pulled from the US market its shareholders get hammered. Its stock is near 52-week lows, and it appears that it is going to get worse.
Douglas A. McIntyre
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.