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Glaxo Plans $2.36 Billion Charge for Legal Issues
New York Times

GlaxoSmithKline, the British pharmaceutical company, said Thursday that it would take a second-quarter charge of $2.36 billion related to legal cases involving its drugs Avandia and Paxil.

The company, based in Brentford, England, made the announcement a day after an American medical advisory panel recommended that Avandia, a controversial diabetes drug, should either be withdrawn from the market or have sales severely restricted because it increases the risks of heart attacks.