A minor fibrillation

22 May 2007 By Una Galani Follow @ugalani

The UK pharmaceuticals shares have taken a battering after a study linked its blockbuster diabetes drugs to higher risk of heart attacks. The author is credible, but his technique is disputed. For now, it looks like Glaxo will only suffer mild damage.

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GlaxoSmithKline's leading diabetes drug has been linked to higher risk of heart attacks. A study published in The New England Journal of Medicine by prominent cardiologist Steven Nissen suggests people using Avandia have a 43% increased chance of suffering from a heart attack. Glaxo's Avandia medication last year generated $3bn in global sales.

Dr Nissen is widely credited for raising early safety concerns over Merck's blockbuster arthritis drugs Vioxx back in 2001. The drug which generated $2.5bn in annual sales was similarly found to increase the rate of heart attacks and was later withdrawn in 2004.

Avandia is Glaxo's secondbiggest selling drug after its asthma medicine Advair. About seven million people worldwide have taken the drug since it was introduced in 1999. In the US it represents 37% of the market for oral diabetes treatments.

Glaxo shares have fallen 9% since Dr Nissen's report on Avandia was published.

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