Avandia Drug Outlook Bleak?
Things are starting to look somewhat bleak for GlaxoSmithKline. Of course, the definition of “bleak” takes on a different meaning when you happen to be a multibillion dollar pharmaceutical conglomerate. For you or me, “bleak” might mean facing bankruptcy, or having a relative in the hospital, or any number of serious, life changing events. For GSK, “bleak” means “only making hundreds of millions instead of billions.”
This is the sort of “bleak” that pretty much everybody we know would love to experience, but GSK doesn’t find that prospect too appealing. Their “problems” have happened as the result of their previously popular type-2 diabetes drug Avandia being linked to heart complications in people who use it.
Continue Reading...