GlaxoSmithKline shares fall as Senate attacks diabetes drug
11 April 2012
GlaxoSmithKline's shares fell sharply today after US senators published a highly critical report into the side effects of its diabetes drug Avandia.
Shares in the pharmaceuticals giant tumbled more than two per cent as the senators said two American drug safety reviewers recommended the medicine be pulled from the market amid concerns about its links to increased risk of heart attacks.
The developments added to fears of expensive litigation against Glaxo by patients claiming to have suffered from side effects.
Avandia comprises about 1.5 per cent of Glaxo's annual £28.4 billion sales. The shares fell 28p to 1207.5.
