More Prempro Settlements!

Filled under All Postings, Recovering Damages on December 15, 2011 - no comments .

Pfizer and its Wyeth and Pharmacia & Upjohn units have resolved about 46 percent of suits that claimed the companies’ hormone-replacement medicines, including Prempro, Prempro and Provera, caused breast cancer, according to the Securities and Exchange Commission filing. Pfizer said it added $68 million to the $772 million it already reserved for the cases according to Bloomberg.

The latest revelation comes after a $72.6 million dollar jury verdict against Pfizer and its units Wyeth and Pharmacia & Upjohn in Philadelphia in early December, 2011. Before the Philadephia jury could consider punitive damages, Pfizer settled the case.

Pfizer also announced that it has set aside additional funds for settlement purposes. However, many plaintiff attorneys are doubtful the slugfest will resolve any time soon.

Helpful link:

http://www.bloomberg.com/news/2011-12-15/pfizer-has-settled-about-half-of-prempro-cases-adds-to-reserve.html

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