$894 Million Deal Ends Pain Of Pfizer's Lawsuits

By: Associated Press Email
By: Associated Press Email

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Drug giant Pfizer Inc. says it has an $894 million deal to end most lawsuits over two pain relievers, Bextra and Celebrex.

The world's biggest drugmaker says it has agreements to end more than 90% of personal injury suits brought by people claiming the drugs caused heart attacks, strokes or other harm. Pfizer hopes to settle them by year's end.

The proposed deal also would end suits by insurers and patients seeking to recover what they spent on Bextra and Celebrex.

And it will settle claims by 33 states that Pfizer improperly promoted Bextra. It withdrew Bextra from the market in 2005, a year after Merck & Co. withdrew Vioxx, a similar drug.

Celebrex is the only drug in that anti-inflammatory class still on the U.S. market.

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