Pfizer Loses Court Case on Menopause Drug (PFE)
A state appeals court in Pennsylvania has sided with two women who filed suit against drugmaker Pfizer Inc. (NYSE: PFE) claiming that the company’s Prempro menopause drug caused their breast cancers. The award of $45 million will be split between…
A state appeals court in Pennsylvania has sided with two women who filed suit against drugmaker Pfizer Inc. (NYSE: PFE) claiming that the company’s Prempro menopause drug caused their breast cancers. The award of $45 million will be split between the two complainants.
Pfizer has set aside $840 million to pay claims against Prempro, which was linked to breast cancer in a 2002 study sponsored by the National Institutes of Health. So far the company has resolved about 46% of the litigation resulting from claims against the drug, which is still available. Prempro was developed and sold by Wyeth prior to the 2009 merger takeover by Pfizer.
Pfizer has said that it will appeal the ruling to the Pennsylvania Supreme Court.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
