Tuesday, June 19, 2012

Pfizer Paid $896 Million in Prempro Settlements - Bloomberg


Pfizer Inc. (PFE) has paid $896 million to resolve about 60 percent of the cases alleging its menopause drugs caused cancer in women, the drugmaker said in a securities filing.

Pfizer, the world’s largest drugmaker, has now settled about 6,000 lawsuits alleging Prempro and other hormone- replacement drugs caused breast cancer and has set aside an additional $330 million to resolve the remaining 4,000 suits, according to a filing with the U.S. Securities and Exchange Commission.

Posted via email from Jack's posterous

1 comment:

Anonymous said...

Many of the lawyers on the plaintiff steering committee on Prempro have settled out their cases especially in Philadelphia. They appear to be taking no new cases and at least one that I know of has participated in a confidential master settlement agreement with the defendants which the client cannot see. This should be a red flag to any plaintiff that is being asked to sign a settlement agreement with the words MSE or master settlement agreement if they have not been allowed to see the agreement. Why should there be an agreement between your lawyer and the defendants that you cannot see? I have also seen a copy of an aggregate settlement agreement I was told by one of these firms that they are restricting their practice after enter into these types of aggreements and will not take more cases. This may be in violation of the lawyers professional ethics rules. If you have a Prempro case and your lawyer tries to bully you into signing think carefully. You do not have to settle. You can also take the agreement and show it to another attorney, even a malpractice attorney before signing. Be careful about any agreement where you cannot see the confidential master settlement agreement. It is your choice on what you do to protect your rights. I wish you well.