Glaxo settles first batch of lawsuits on Avandia

GlaxoSmithKline reportedly agreed to settle the first batch of lawsuits that allege its Avandia diabetes pill causes heart attacks and strokes. The deal comes as Glaxo faces its first Avandia trial in state court in Philadelphia in July and about 4,000 lawsuits that have been filed so far. For more on this story go to Pharmalot and Bloomberg News.