Quoted from http://www.bloomberg.com/news/2011-05-13/pfizer-sets-aside-772-million-to-resolve-cancer-claims-on-menopause-drug.html
Pfizer Sets Aside $772 Million, Settles One-Third of Pending Prempro Case
By Jef Feeley - May 13, 2011 12:01 AM ET
Pfizer Inc. (PFE), which has settled a third of the pending cases over its Prempro menopause drug, said it set aside $772 million to resolve claims the medicine causes breast cancer.
Officials of New York-based Pfizer, the world’s largest drugmaker, said in a filing with the U.S. Securities and Exchange Commission yesterday that the reserve provides “the minimum expected costs to resolve all of the other outstanding” lawsuits over its hormone-replacement drugs. The company didn’t say how many cases would be settled....
10,000 Suits
At the height of the litigation, Pfizer faced more than 10,000 claims that its menopause drugs caused breast cancer, according to lawyers for former users. Those cases included more than 8,000 cases consolidated in federal court in Arkansas and other cases in state courts in Pennsylvania, Nevada and Minnesota.
The company’s announcement that it had resolved a third of the cases over its menopause drugs means Pfizer has settled more than 3,300 cases.
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