Local Tech Wire

RESEARCH TRIANGLE PARK, N.C. – (NYSE: GSK) is reported to have settled “thousands” of lawsuits filed against the drug giant in cases that allege links between its diabetes drug Avandia and heart attacks.

Reuters reported Tuesday that a spokesman for GSK said the settlements were related to consolidated cases that had been scheduled to be tried this month in Philadelphia. The news service said the spokesperson declined to disclose any more details.

The first trials that will go to trial will come in October, she added.

GSK, which maintains its U.S. headquarters in RTP, settled 700 cases recently for some $60 million, according to news reports.

Some 5,000 cases were consolidated for possible trial in Philadelphia, Reuters noted.

Analyst Mark Clark at Deutsche Bank said the settlements should be covered by GSK’s litigation coverage.

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