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London-based Glaxo reported late last year that the Justice Department and several state attorneys general are investigating the development and marketing of Avandia. A Senate investigation released last year concluded that Glaxo knew about the risks of its drug years before they were made public and withheld important data from the FDA.
The company has reportedly settled thousands of personal injury lawsuits filed by Avandia patients, though Glaxo executives say a number of additional lawsuits have been filed since the FDA's announcement last year. They have not specified the number.
U.S.-listed shares of GlaxoSmithKline PLC rose 75 cents to $38.76 in afternoon trading.
[Associated
Press;
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