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Mobile, Alabama Personal Injury Lawyer Blog | Long & Waite
Friday, October 17, 2008
Pfizer to Settle Drug Lawsuits with $894 Million Buyoff
Pfizer Inc. has set up a plan to pay $894 million to resolve most legal defective pharmaceutical lawsuits claiming that billion-dollar painkillers Celebrex and Bextra caused heart-attacks and strokes. The lawsuits had been brought by people who experienced heart attacks and strokes after taking the drugs, and after Vioxx, a similar painkiller made by competitor Merck, was shown in a study to increase the risk of heart attack by fourfold. In addition, questions were raised about whether the study results were manipulated to actually conceal this risk.
In contrast to Vioxx, only smaller studies have suggested that Celebrex and Bextra may cause an increased risk of heart attack or stroke. In a huge meta-study, which evaluated 114 studies of Vioxx, Celebrex, Bextra, and related COX-2 inhibitors, only Vioxx was found to have an increased risk of renal (kidney) damage and heart arrhythmia. Thus, although Celebrex, Bextra, and Vioxx have very similar chemical structures and work via the same pathway to inhibit pain expression, there is much less evidence that Celebrex and Bextra causes heart attacks and stroke than Vioxx.
Despite the lack of supporting evidence, Pfizer decided to settle the lawsuits out of court, probably in emulation of Merck, which first fought Vioxx lawsuits vigorously, then offered a $4.85 billion settlement last year. The money includes not only a $745 million payoff for 90 % of the pharmaceutical injury cases, but also $60 million for alleged illegal promotion of Bextra and $89 million for consumer fraud cases.
Celebrex will continue to be sold and, in comparison with the settlement, generated $2.3 billion in gross revenue last year. Bextra, on the other hand, was recalled in 2005 over a potentially fatal skin reaction.
If you have been injured by a defective drug, contact the experienced personal injury lawyers at Long & Waite, Attorneys at Law, P.C. today for a no-obligation drug injury consultation.
posted by
Dr. Candelaria
at
3:59 PM
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