Shares of GlaxoSmithKline are pressurized concerning apprehensions raised relating to its drug Avandia, ahead of a meeting in Europe. The meeting has been scheduled in the later parts of the week, so as to review the drug’s safety. Avandia is the drug which is used to treat diabetes.

The firm’s case has not been supported this morning with the comments from the UK medicines and healthcare watchdog group, stating that the drug, which it at one time was the second biggest seller, ought to be taken off the shelves in the market in the United Kingdom.

The news has come just before the meeting in Europe that has been lined up for Wednesday, which has witnessed Glaxo’s shares drop down by 11.5pc to £12.57.

Market Strategist at City Index, Joshua Raymond said that some shares of GlaxoSmithKline this morning were seen sold by investors, which was before the significant European Medicines Agency meeting that will discuss about the safety of usage of this drug, Avandia.

The meeting is going to take place in the middle of damaging setting of comments that have been stated by the UK regulator regarding the dangers outdoing the advantages that the drug offers.

In the past three years, sales of the drug have plunged due to worries relating the aftereffects of the drugs, weakening the weight of the firm’s shares and intimidating the investors.