Pfizer to Settle Celebrex and Bextra suits

In a long expected move, Pfizer Inc agreed in principle yesterday to pay $894 million to settle litigation related to it's painkillers Celebrex and Bextra.

The majority of the settlement, $745 million was allocated to resolution of 90% of the known and filed personal injury suits that have alleged the cox-2 painkillers caused heart attacks and strokes. The remainder of the settlement will allocate $60 million to the Attorney's General in 33 states that filed suits related to Pfizer's sales and promotion of Bextra and the other $89 million will go to resolve class actions that had been filed alleging fraud in connection with the sales and promotion of both Celebrex and Bextra.

While this settlement is considerable less then the Vioxx settlement, it is a result of less definite science tying the drug as firmly to heart attacks and strokes as is the case with Vioxx. 

Now will come the details and process by which cases are scored, settled and paid, a process which has turned into an excruciatingly long process for Vioxx claimants. I will be doing an update on the Vioxx settlement process this weekend after discussions with several of the attorneys involved in the settlement and payment process.

Posted on October 17, 2008 and filed under Celebrex, bextra.