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Wyeth diet drug litigation

Executive Summary

Wyeth increases Redux litigation reserve by $4.5 bil. ($2.6 bil. net of tax), bringing total fen/phen-related charges to $21.1 bil. Wyeth has paid $13.9 bil. in claims, leaving a balance of $7.2 bil. in reserve, as of Dec. 31. The charge assumes the so-called "Seventh Amendment" settlement will be accepted, although it still awaits final court approval. The Seventh Amendment would set aside $1.275 bil. to fund less serious cases (1"The Pink Sheet" Aug. 16, 2004, In Brief)...

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