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Pfizer Pays $273 Million For Settling Chantix Lawsuits

Date: 5th March 2013

Pfizer Inc., the manufacturer of the quit smoking drug chantix, has revealed in its annual report that it paid an amount of $273 million last year for settling chantix lawsuits and now the company has put aside $15 million for resolving the remaining chantix cases in the United States. Pfizer’s annual report was filed with the Securities and Exchange Commission (SEC) on 28th February.

Recently, Pfizer had settlement agreements in two bellwether cases that were related to chantix. The company finalized a recent agreement with a person who claimed that he suffered from suicidal tendencies and other problems after taking chantix. During the month of October, in 2012, the chantix maker had an agreement with the widow of a chantix user who committed suicide after administering chantix. However, soon after Pfizer had finalized settlement agreement in these two chantix cases, the news about the company’s SEC filing was revealed.

Source: insidecounsel.com


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