Pfizer settles Celebrex/Bextra litigation
Executive Summary
Pfizer agrees to pay $894 million to resolve more than 90 percent of personal injury claims involving its COX-2 inhibitors, as well as consumer fraud class action claims and litigation by state attorneys general. The figure is less than half of the firm's annual Celebrex sales, which totaled $2.3 billion in 2007. Plaintiffs lawyers who worked on the structure of the settlement said the parties sought to avoid the model Merck used in settling Vioxx litigation (1"The Pink Sheet," Nov. 12, 2007, p. 11). Scott Nealey, a partner at Lieff Cabraser Heimann & Bernstein, which served as plaintiffs' liaison counsel, said that the settlement was designed so that plaintiffs will get paid quickly
You may also be interested in...
Merck’s Novel Vioxx Settlement May Set Standard To Resolve Litigation
Merck crafted extraordinary terms in its $4.85 billion agreement to resolve the bulk of Vioxx litigation, which analysts are heralding as a good result for the company
US FDA Drugs Center Ready To Break Down Silos On Regulatory Innovation
CDER Director Cavazzoni is promising to increase coordination and collaboration to accelerate broader adoption of innovative clinical trial designs and other approaches to speed drug development. A new "Quantitative Medicine Center of Excellence" illustrates the approach.
New OSP Director To Guide CDER-Wide IT Upgrades; System Enhancements Speed ANDA Assessments
Generic Drug Structured Assessment for Bioequivalence launched in 2023 and has been used in 40 ANDA reviews so far.