Thursday, 15 July 2010 at 13:40, Bloomberg
GlaxoSmithKline Plc expects to record a £1.57 billion-pound ($2.4 billion) legal charge in the second quarter to settle legal cases including lawsuits that alleged its Avandia diabetes drug led to heart attacks.
The charge equates to an after-tax cost of £1.35 billion pounds, the London-based company said in a Regulatory News Service statement today. A panel of advisers to the US Food and Drug Administration yesterday recommended that the agency keep Avandia on the market with stronger warnings about the risks of heart ailments.
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