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GlaxoSmithKline (GSK) Release: RD Legal Funding Offers Lawsuit Financing to Plaintiff Attorneys with Avandia Settlements


3/30/2012 10:00:20 AM

CRESSKILL, N.J., March 29, 2012 /PRNewswire/ -- Even after published studies described Avandia's dangerous side effects, Type 2 diabetes sufferers, who are at the highest risk of developing fatal heart disease, were prescribed the drug in order to lower their blood sugar levels. Tens of thousands of suits have been settled by GlaxoSmithKline to resolve claims that its drug Avandia increased the risk of heart attack in Type 2 diabetes patients. Plaintiff attorneys with Avandia settlements, who are still waiting to get paid, are encouraged to contact RD Legal Funding, LLC ("RD Legal"), one of the nation's leading providers of lawsuit funding to attorneys.

(Logo: http://photos.prnewswire.com/prnh/20110803/NY45278LOGO )

Avandia (rosiglitazone) proved a bitter pill for Type 2 diabetes sufferers who were already at increased risk of heart attack. In Type 2 diabetes, either the body does not produce enough insulin or the cells ignore the insulin which the body requires to use glucose for energy. Avandia helped control diabetics' blood sugar by making the body more sensitive to its own insulin. First approved for use in the United States in 1998, Avandia became the world's best-selling drug for treating Type 2 diabetes.

Heart disease and stroke are already the number one causes of death and disability among people with Type 2 diabetes. However, even after a 2007 study linked Avandia to increased levels of heart attack and stroke in Type 2 diabetes sufferers, the drug continued to be prescribed.

According to some experts, Avandia may have caused between 60,000 and 200,000 heart attacks and deaths due to cardiovascular problems in the U.S. from 1999 to 2006. The lead author of the 2007 study published in The New England Journal of Medicine, Dr. Steven E. Nilsson, estimated that Avandia users faced a 43 percent higher risk of a heart attack or other cardiovascular events. A 2008 report by the Federal Drug Administration implicated Avandia in an estimated 83,000 heart attacks. Other studies cited additional negative side effects caused by Avandia including stroke, osteoporosis, bone fracture and liver failure.

GlaxoSmithKline's profits from Avandia were $3.2 billion in 2006, but dropped to $1.19 billion by 2009. The company paid a $2.36 billion charge in 2010 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, the pharmaceutical giant 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. In January 2012, GlaxoSmithKline agreed to resolve more than 20,000 cases alleging their diabetes drug Avandia causes heart attacks.

RD Legal can provide Avandia plaintiff attorneys with interim post-settlement funding, which provides immediate capital on settlements. Lawsuit 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 several days. RD Legal provides personalized service and quick turnaround.

Founded in 1997, RD Legal has established itself as one of the nation's leading providers of lawsuit settlement funding to attorneys and plaintiffs. Contact RD Legal at 1-800-565-5177 for more information.

SOURCES:

"Avandia (Drug)," New York Times, updated November 3, 2011 (collection of articles and sources); http://topics.nytimes.com/top/news/health/diseasesconditionsandhealthtopics/avandiadrug/index.html

"Glaxo Settles 20,000 Lawsuits over Avandia, Lawyer Says," February 14, 2012, by Jef Feeley
http://www.businessweek.com/news/2012-02-14/glaxo-settles-20-000-lawsuits-over-avandia-lawyer-says.html

"Glaxo to pay $3 billion settlement of Avandia, U.S. sales cases," 6th November, 2011, http://avandiarecallnews.com

http://avandiaclassaction.com/avandia-lawsuit

http://avandia.lawsuitinformation.org

http://avandiaclassactionlawsuit.org/category/overview-of-avandia

http://www.youhavealawyer.com/avandia/heart-risk-timeline

http://www.heart.org/HEARTORG/Conditions/Diabetes/WhyDiabetesMatters/Cardiovascular-Disease-Diabetes_UCM_313865_Article.jsp

SOURCE RD Legal Funding, LLC



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