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First approved in 1999, Avandia became the top-selling diabetes pill in the world by 2006, with sales of $3.4 billion. Sales began plummeting the following year after medical researchers began questioning the drug's safety. The drug was also banned in Europe. Last year Glaxo plead guilty to failing to report safety problems with Avandia to government officials over a seven-year period. The guilty plea was part of a larger $3 billion settlement with the Department of Justice
-- the largest health care fraud settlement in U.S. history -- for various criminal and civil violations involving 10 of the company's drugs. Shares of GlaxoSmithKline PLC fell 5 cents to close at $48.47 in trading Friday.
[Associated
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