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Tagged: GlaxoSmithKline

Business & Economy
6:25 am
Wed January 19, 2011

Glaxo Writes Off $3.4 Billion to Cover Avandia Costs

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By Rose Hoban

More bad news for Glaxo Smith Kline as the company attempts to account for the costs of Avandia litigation. .

GSK made the announcement in a statement posted on the company's website. Glaxo will take a $3.4 billion write-off out of fourth quarter profits to cover liability costs for blockbuster diabetes drug Avandia.

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