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news.GlaxoSmithKline (GSK) is set to resolve more than 1,000 lawsuits filed against its diabetes drug Avandia.
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Avandia (rosiglitazone maleate) is an oral antidiabetic agent which acts primarily by increasing insulin sensitivity.
The cases were filed against GSK as studies linked the drug to increased risks of heart attacks.
GSK has decided to pay approximately $700m for resolving around 12,000 cases over Avandia.
The company has already recalled the drug in Europe last year and stopped selling the drug in the US.
Two Avandia cases have been set for trial in November in New Mexico and California.
Further, around 5,300 cases are pending in the US district court.