Paxil Birth Defect Settlements Affect GSK’s Earning Statements
By John Curran
There are hundreds of cases pending against British pharmaceutical giant GlaxoSmithKline relating to Paxil birth defect problems, just as there are against other manufacturers whose drugs carried SSRI antidepressant side effects. Research of earning statements indicates just how seriously these companies are taking the plaintiffs’ claims.
In a recent earnings statement, GlaxoSmithKline noted that it had set aside about $500 million for legal disputes, including those revolving around Paxil birth defect claims. Unfortunately, stock investors are not as worried about these disputes as they are the ability for the company to make money from it and other drugs. In spite of some drop in revenue, the company still brought in more than $40 billion in revenue last year, according to its earnings report.
Families whose children suffer from disabilities as a result of SSRI antidepressant side effects should note that not all companies are as healthy as GSK, financially speaking. This has an impact on the efforts of birth defect lawyers as those drug makers are more likely to fight back in order to save money on the millions of dollars each one of hundreds of plaintiffs could receive as a result of a jury award.
The other major factor that will impact any decisions by companies and families who were victims of drug side effects are the product labeling changes. The FDA ordered changes recently after a 2006 study connected the antidepressants with birth defect problems like limb deformities, perforations in the heart and other problems. Unfortunately there is not a class-wide consensus on what should be added, and the FDA has approved differing product safety updates.
Birth defect lawyers note that there have been birth defect settlements in other countries, including Canada, that do set a minimum baseline. However, that case was a class action claim, and there could be more money available to pay for needed rehabilitation and care for children who cannot grow up without aides. Trials are pending for most of the drugs.
Families who have dealt with these conditions in their sons and daughters clearly have legal options available to them. Getting a free consultation is the first step in finding out whether or not filing a lawsuit makes sense given the facts of their unique situation. A free, no-obligation consultation is available at the Zoloft, Paxil, Celexa, Lexapro & Prozac SSRI Antidepressant Birth Defect Class Action Lawsuit Investigation, so act now to get the legal remedy your potential case merits.
Updated February 28, 2013
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