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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/01/diabetes-claims-cost-company-22bn.jpg"><img class="alignnone size-full" title="GlaxoSmithKline said the cost of settling legal disputes over diabetes drug Avandia will hit 2.2bn pounds" src="http://londonglossy.com/wp-content/uploads/2011/01/min-diabetes-claims-cost-company-22bn.jpg" alt="GlaxoSmithKline said the cost of settling legal disputes over diabetes drug Avandia will hit 2.2bn pounds"/></a></p>
<p>The UK&#8217;s largest pharmaceutical company has said the cost of settling legal disputes over controversial diabetes drug Avandia will hit a record £2.2 billion.</p>
<p>GlaxoSmithKline (GSK) said the charge equates to an after-tax cost of £1.8 billion and applies to the fourth quarter of 2010. The charge covers consumer lawsuits alleging the drug harms health, in particular that it increases the risk of heart attack.</p>
<p>The cases also include those stemming from an investigation by the US Attorney&#8217;s office in Colorado of GSK&#8217;s marketing practices involving a range of drugs.</p>
<p>In July, the drug maker announced it would record a charge of £1.57 billion in the second quarter to cover the cost of settling ongoing legal disputes.</p>
<p>In a statement, GSK said: &#8220;The company has continued to receive new product liability cases regarding Avandia in the United States.</p>
<p>&#8220;The number of new claims received is substantial and the group has now completed its assessment of these additional cases and an estimate of likely future claims.&#8221;</p>
<p>The statement added: &#8220;We recognise that this is a significant charge, but we believe the approach we are taking to resolve long-standing legal matters is in the company&#8217;s best interests.</p>
<p>&#8220;We have closed out a number of major cases over the last year and we remain determined to do all we can to reduce our litigation risk.&#8221;</p>
<p>GlaxoSmithKline has its headquarters in Brentford, Middlesex, and research bases at Stevenage and Ware in Hertfordshire and Harlow in Essex.</p>
<p>Its UK manufacturing operations include sites at Ulverston in Cumbria, Montrose, Angus, and Irvine in Ayrshire.</p>
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