RD Legal Funding Provides Financial Relief for GlaxoSmithKline Diabetes Drug Settlement Attorneys
CRESSKILL, N.J., Feb. 28, 2012 /PRNewswire/ -- In January 2012, GlaxoSmithKline ("GSK") the United Kingdom's largest pharmaceutical company agreed to resolve more than 20,000 cases alleging their diabetes drug Avandia causes heart attacks. Meanwhile, the plaintiffs' attorneys have not been compensated for their out-of-pocket expenses incurred in pursuing these meritorious cases. RD Legal Funding, LLC ("RD Legal") a leading lawsuit settlement funding company, is available to provide qualified applicants with immediate financial relief.
The FDA approved the use of rosiglitazone for treatment of Type 2 Diabetes on May 25th, 1999. Marketed under the name Avandia, it became the world's best-selling Type 2 diabetes treatment drug.
In 2000, John Buse, MD, a leading diabetes expert, expressed concerns regarding potential Avandia heart risks. He subsequently reported that he was "intimidated" by the drug maker for speaking out about the dangers which could be associated with the diabetes medication. Buse, currently director of the University of North Carolina Diabetes Care Center and former president of the American Diabetes Association, continues to speak out against the use of Avandia. He writes: "…as a physician and as a member of a profession, it is inconceivable to me that anyone would make a conscious decision to prescribe Avandia today." (SOURCE: http://unchealthcare.wordpress.com/2010/07/15/one-physicians-take-on-the-avandia-controversy/)
After false and misleading comments about Avandia were made by sales representatives to an undercover investigator, the FDA issued a reprimand letter to GSK in 2001. The FDA was criticized by Public Citizens' Health Research Group for not following their staff scientists' recommendations to add a strong "black-box" warning to Avandia. However, even though GSK's own 2005 draft analysis of clinical data indicated concerns about heart risks associated with Avandia, the drug's warning label was not modified until 2006. Even then, the warnings were not prominently displayed and did not adequately convey the risks associated with Avandia.
Congressional hearings on Avandia were not held until 2007, after the New England Journal of Medicine published an independent review of the 2005 clinical data showing a 43% increase in the risk of heart attacks and over 60% increase in the risk of cardiovascular death associated with the use of Avandia. The hearing reviewed when information about Avandia heart attack risks was available and why it was not disclosed to the public earlier. Under pressure, in November, the FDA announced a new "black box" warning about the Avandia heart attack risk but failed to recall the controversial medication.
In January 2008 FDA staff scientists released a report estimating that Avandia may have caused an estimated 83,000 heart attacks. Other studies citing additional negative side effects of the drug including stroke, osteoporosis, bone fractures and liver failure soon followed. By September 2010, after Avandia had been banned in several European countries, calls for its recall in the Unites States increased dramatically. Nonetheless, the FDA announced that the drug would remain on the market for patients whose diabetes could not be controlled with other medications.
GSK spent 11 years covering up their own studies showing that the drug posed risks to the heart, failing to post results on its Website or submit them to federal drug regulators as required by law. As a result, in 2010, GSK paid a $2.36 billion charge to settle some 10,000 of 13,000 Avandia civil lawsuits it was facing in the U.S., as well as investigations over its antidepressant Paxil and manufacturing problems in its Puerto Rico plant.
In November 2011, GSK agreed to pay the U.S. government $3 billion to resolve civil and criminal investigations alleging that the company had paid doctors and manipulated medical research to promote Avandia.
Meanwhile the attorneys pursuing the cases on behalf of injured plaintiffs have yet to receive any compensation for the expenses they have incurred pursuing these meritorious cases. RD Legal is making immediate settlement funding available for attorneys in need.
Post-settlement financing does not require any kind of payments until the fee is paid; there are no monthly interest or principal payments, no upfront points or fees. Once the necessary documentation is received, RD Legal can wire funds within one to two days. RD Legal has the resources to fully fund settlements for more than $20 million.
Since its founding in 1997, RD Legal has established itself as one of the nation's leading providers of legal funding to attorneys and plaintiffs. To speak to a financing expert, call RD Legal toll-free at 1-800-565-5177. More information is available at http://www.legalfunding.com.
SOURCE RD Legal Funding, LLC