An examination of the sales figures surrounding Paxil and its maker, GlaxoSmithKline, reveals an extremely successful drug and one of the most profitable drug companies in the world. A closer look at Paxil statistics, however, reveals the controversy surrounding the drug and its maker.
Paxil is a selective serotonin reuptake inhibitor (SSRI) class drug, which works by adjusting the level of chemical neurotransmitters in the brain and blocking the re-absorption of serotonin. Health officials estimate that more than 10% of the American population has taken similar antidepressants.
Paxil statistics show that the drug and its maker have enjoyed a large share of that market. Since gaining FDA approval in 1992, Paxil has been taken by an estimated 100 million or more people. In 2007 alone, more than 19.7 million prescriptions were filled.
Paxil statistics show that GlaxoSmithKline has earned approximately $20 billion on the sales of Paxil in just the United States.
There is little surprise, therefore, that GlaxoSmithKline ranks in the top three worldwide among pharmaceutical companies for sales and profitability, with an average of over $40 billion per year in revenue and $15 billion in profits.
Despite providing jobs to nearly 85,000 people worldwide, GlaxoSmithKline has also faced a good deal of negative press. Over the past decade, the company has been accused of coercing or intimidating research physicians, defrauding the U.S. government and committing multiple animal rights violations.
Paxil statistics show GSK has also faced substantial legal action for the drug, which is one of its best sellers. Legal experts estimate more than 5,000 people have filed lawsuits for side effects ranging from violent and suicidal behavior to severe birth defects after multiple studies showed the drug to be dangerous to unborn infants.
Attorneys are currently filing Paxil lawsuits on behalf of those children and families who have been affected by Paxil birth defects. Even if your child’s condition has been corrected, you may be able to recover for their suffering and future well-being.
If your child suffered birth defects after you took Paxil, it is important to learn your legal options as soon as possible. Help is available for their condition, however, the time to file a lawsuit is limited.
Legal watchdog groups estimate that GlaxoSmithKline has paid approximately $1 billion to resolve lawsuits over Paxil birth defects. A Bloomberg article estimated the average settlement for conditions such as heart defects, club foot, lung defects and brain damage to be around $1.2 million per case.
If your child has suffered from birth defects related to an SSRI drug like Paxil, your family should not bear the burden of their treatment and care alone simply because a large drug company failed to warn of the dangers of their drug.
Attorneys with the Paxil Litigation Group have represented thousands of families in defective drug lawsuits and recovered millions for those injured by birth defects from SSRI drugs like Paxil.
These same attorneys are available to discuss your case today, as well as what it may be worth and how much time you have to file a claim.
Contact us today to speak with an attorney. We are available 24 hours a day to answer your questions and provide help.