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GlaxoSmithKline drug could be withdrawn

July 30, 2007
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As the Food and Drug Administration prepares to ask experts about safety issues related to GlaxoSmithKline PLC''s diabetes drug Avandia, one analyst said there''s a chance the drug will be taken off the U.S. market, the Associated Press reports. The FDA will ask drug safety and diabetes experts next week whether Avandia should carry label warnings of heart attack risk. The FDA''s request follows a recent medical journal article suggesting that heart attack risk is 43 percent higher in patients who take the drug. The FDA is not required to follow the recommendation of expert panel, but it usually does. Bear Stearns analyst Alexandra Hauber said there is still a chance that Avandia may be withdrawn from the market. Still, Hauber said that even if Avandia were withdrawn in the U.S., GlaxoSmithKline may still be able to meet its 2007 outlook.

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