GlaxoSmithKline: Avandia Unlikely to Recover
The U.S. Food and Drug Administration recently voted to keep Avandia on the market. Avandia is a drug manufactured by GlaxoSmithKline and it is used to treat type 2 diabetes. However, though the news would seem positive for GlaxoSmithKline, the FDA's treatment of the situation has called into question the FDA's ability to manage situations such as these and the review likely will damage Avandia sales.
The FDA's panel meeting was prompted by a meta analysis conducted by Dr. Steven Nissen. Nissen's report was published in the New England Journal of medicine in May. Many medical specialists have stopped prescribing Avandia to patients as a result of the study.
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