Glaxo’s Avandia to Be Pulled in EU, Restricted in U.S.
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GlaxoSmithKline Plc’s Avandia, once the world’s best-selling diabetes drug, will be withdrawn in Europe and restricted in the U.S. after a three-year review of the medicine’s heart risks.
Glaxo said it will stop promoting the drug in all countries after the decisions announced today by the European Medicines Agency and the U.S. Food and Drug Administration. Regulators disagreed on the reliability of the data and whether potential risks could be contained. Glaxo’s American depository receipts fell the most in a month in New York trading.