The U. S. Senate Finance Committee has issued a 334-page report, which showed a connection between Avandia, the Type 2 diabetes drug, and thousands of heart failures.

The committee's statement, which analyzed over 250,000 pages of documents provided by GlaxoSmithKline, the USFDA and research institutes, also criticized the FDA for disregarding safety fears regarding the drug brought up by its team.

According to reports, confidential analyzes showed FDA functionaries suggested Avandia be removed from the market owing to the heart failure risk.

The Food and Drug Administration is the federal agency charged with detwermining food, tobacco as well as drugs.

Committee Chairman Sen. Max Baucus, D-Mont said, "Americans have a right to know there are serious health risks associated with Avandia, and GlaxoSmithKline had a responsibility to tell them."

"Patients trust drug companies with their health and their lives, and GlaxoSmithKline abused that trust."

In a declaration, the drug maker stated that the company discards the conclusions regarding Avandia's safety.

"Contrary to the assertions in the (New York Times), and consistent with the FDA-approved labeling, the scientific evidence simply does not establish that Avandia increases ischemic cardiovascular risk or causes myocardical ischemic events." (With Input from Agencies)