MARKET TALK: Avandia Studies' Impact On GSK Modest

28th Jun 2010 17:31

12:31 (Dow Jones) GlaxoSmithKline (GSK) shares down 0.5% at $34.43 after release of two new studies reinforcing safety concerns about diabetes drug Avandia. From investor standpoint, much of Avandia-related damage was previously baked in over past few years. Avandia sales in 2009 were only 2.7% of total GSK sales, versus 7% in 2006 before the safety controversy erupted. That said, expect Avandia safety to remain in the news near-term: a July 13-14 meeting of FDA advisory committee has been scheduled to evaluate Avandia safety. ([email protected]) Call us at (212) 416-2184 or email [email protected] Visit the Market Talk blog at www.djnmarkettalk.com (END) Dow Jones Newswires June 28, 2010 12:31 ET (16:31 GMT)