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Pfizer Reserves $772 Million For Prempro Lawsuits

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After a 2002 study linked Prempro to cancer, and more than 6 million women used the menopause drug to treat symptoms, Prempro faced more than 10,000 lawsuits, among them, 8,000 cases consolidated in Arkansas federal court.

Pfizer claims it has resolved about 3,300 cases and has set aside $772 million for “the minimum expected costs to resolve all of the other outstanding” lawsuits.

Prempro is combination of estrogen and progestin used to combat hot flashes, mood swings and other symptoms of menopause. The drug is still on the market and had more than $2 billion in sales before the release of the National Institutes of Health sponsored study reporting the link to breast cancer.

Pfizer has lost 8 of 15 jury decided cases since 2006, and has won the dismissal of more than 3,000 cases. A Puerto Rico jury ordered the company to pay $1.5 million in damages to a woman who developed breast cancer after taking the drug.

Reports say that Pfizer paid nearly $330 million to resolve 2,200 cases, averaging about $150,000 per woman, though Pfizer has disputed those claims.

Lead counsel for the plaintiffs in the consolidated lawsuit case in the U.S. District Court, Eastern District of Arkansas (Little Rock) said “We are pleased to see Pfizer finally accept responsibility for the injuries this drug caused to women and hope the company will compensate each woman fairly and reasonably.”

breakinglawsuitnews.com disclaimer: This article: Pfizer Reserves $772 Million For Prempro Lawsuits was posted on Tuesday, May 17th, 2011 at 7:44 pm at breakinglawsuitnews.com and is filed under Defective Drug Lawsuits.

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