European Agency To Re-test Safety Of GSK's Avandia

European Agency To Re-test Safety Of GSK's AvandiaThe European Medicines Agency announced on Friday that it will initiate reviewing the safety associated with the diabetes drug, Avandia after research prompted that it is related to a boosted risk of heart issues, strokes and deaths in older adults.

The Agency posted that the review will be conducted by its Committee for Medicinal Products for Human Use, when it meets from July 19 to July 22.

The U. S. Food and Drug Administration will conduct hearings on Avandia, also called as rosiglitazone and manufactured by GlaxoSmithKline PLC, on Tuesday and Wednesday.

"GSK is fully committed to patient safety and believes that rosiglitazone is an important treatment option for appropriate Type 2 diabetes patients", quoted, Dr. Tony Hoos, European Medical Director for GlaxoSmithKline.

The European Medicines Agency claimed that the drug was permitted to use, however, imposed with certain warnings related to prescribing for patients previously hit by heart failures or those having a history of heart failure, or to patients surviving with heart issues.

GSK shares registered a plunge of 1.3%, trading at 1,127 pence ($17.10) in late-morning trading on the London Stock Exchange.