Charles Grassley

Goldman's Discounted GM IPO Fee Angers Rivals

Goldman Sachs' big discount in underwriting fees for the GM IPO has squeezed the other underwriters in the deal. The banks now stand to make only a fraction of what they would normally rake in for the stock offering.

GlaxoSmithKline Settles 10,000 Avandia Lawsuits

GlaxoSmithKline, whose diabetes drug Avandia is undergoing a safety review by the FDA, has agreed to pay about $460 million to resolve about 10,000 lawsuits from users of the drug, which can allegedly cause heart attacks and strokes.

FDA Panel Scrutinizing Diabetes Drug Avandia

On Tuesday, the FDA will convene a panel of experts to discuss GlaxoSmithKline's type II diabetes drug Avandia. Once a blockbuster, sales of the drug have dropped by more than half since studies suggested it significantly increases risk for serious heart problems.