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Pfizer $900 Million Celebrex Bextra Settlement

Posted by Jane Akre
Friday, October 17, 2008 10:20 AM EST
Category: Major Medical
Tags: FDA and Prescription Drugs, Celebrex, Bextra, Pfizer, Cos-2 Inhibitors, Vioxx, Merck, Heart Attack, Stroke

Pfizer agrees to settle celebrex bextra lawsuits for 900 million  

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IMAGE SOURCE: Pfizer Web site banner 

 

Pfizer, the world’s largest drug company, has agreed in principle to an $894 settlement for the painkillers, Celebrex and Bextra.  

The move will result in a substantial charge on the company’s third quarter earnings of $894 million or $640 after taxes.

In a statement, Pfizer (NYSE: PFE) said the amount should resolve about 90 percent of the personal injury claims against Pfizer for the drugs.

While Celebrex is still on the market, Bextra was removed in 2005 due to safety concerns over cardiovascular risks and some life-threatening skin reactions.   Celebrex then received a black box warning, the strongest issued by the FDA.

Consumers have charged that the painkillers, both Cox-2 inhibitors, cause heart attack and stroke.  Vioxx, removed in 2004 was also a Cox-2 inhibitor, whose maker Merck promised a $4.85 billion settlement last year.

 However, unlike Vioxx, state and federal judges have ruled that patients taking Bextra and Celebrex failed to prove that Celebrex can cause heart attack and stroke when taken as prescribed.  

Last November a federal judge in San Francisco dismissed some Celebrex cases of those patients who were using 200 mg of Celebrex saying there was insufficient scientific proof that 200 mg could cause heart attacks or strokes.  

In 2007, the Institute for Safe Medication Practices and the Division of Public Health Sciences, Wake Forest University School of Medicine, conducted a longitudinal Adverse Events Reporting System Review of the U.S. FDA's most dangerous drugs. The study found Celebrex to be one of the most dangerous drugs on the market with some of the highest number of suspect drug events. 

The Attorneys General of 33 states will receive $60 million, while $89 million will resolve class action lawsuits that allege fraud in connection with the promotion of the drugs.

Still unresolved are a number of individual lawsuits filed by consumers who were injured after taking Celebrex or Bextra. 

Pfizer’s general counsel, Amy Schulman says the company stands by the safety of Celebrex and hopes it resolve the remaining 8 to 10 percent of individual cases.  “We are fully prepared to try one of these cases if we need to,” she says in a statement.

Pfizer reportedly wanted to put these matters behind it to “help shareholders, patients and doctors”

The company plans to release its quarterly earnings next Tuesday.  The stock value dropped after the Friday morning announcement.  #


8 Comments

Anonymous User
Posted by Stan ward
Wednesday, October 29, 2008 11:42 AM EST

I had a "heart attack like" event while taking bextra. Since I have been taking a different medication nothing similar has occured. The clinic that was treating me was Reagan Medical in Lawrenceville, Georgia. I was given nitoglycerin and my blood pressure was 190 over 120 when I was rushed to their clinic from work.

Anonymous User
Posted by Dawn Dellinger
Thursday, October 30, 2008 7:51 PM EST

My mother suffered a major heart attact after having been taking Celebrex. She had to be flown out to a major hospital and almost died. She suffered mini-strokes after the heart attack, blacked out, fell, split her head open, had to have stiches, a total knee replacement. Her health and heart was excellent before taking the Celebrex. She received a letter today from her lawyers asking if she would settle for $2000. This is not only an injustice but an insult after all the suffering she gone through.

Anonymous User
Posted by Richard J Prusha
Wednesday, November 05, 2008 12:41 PM EST

Am I bound to accept the first amount in a settlemet
that my attorneys come up with if I don't think it is sufficent?

Richard J Prusha

Anonymous User
Posted by Richard J Prusha
Wednesday, November 05, 2008 12:42 PM EST

Am I bound to accept the first amount in a settlemet
that my attorneys come up with if I don't think it is sufficent?

Richard J Prusha

Anonymous User
Posted by Richard J Prusha
Wednesday, November 05, 2008 12:42 PM EST

Am I bound to accept the first amount in a settlemet
that my attorneys come up with if I don't think it is sufficent?

Richard J Prusha

Posted by Dr. Danny Westmoreland
Saturday, November 08, 2008 9:23 PM EST

I am a doctor who had a brother die of falilial polyposis at age 43. About 1998 My sister and I were diagnosed also with the same and we were both started on 400 mg Celebrex twice a day. At 46 yearas of age with total Cholesteral less than 160 and low trig., no smoking or heart diasease myself or family ever. I had a heart attack on my recliner watching a movie the week of my vacation. A cause was never found and there has not been vascular disease found. My risk factor was less than .5 and it happened. I conitnue to write the 200 mg and harbor no ill will toward Pfizer but feel they shoulf be responsible for the damages. Take my case as the sample case and it will end any debate. This story should have been the poter case for the suit and it wasn't because I feel due to less than aggressive lawyers. I think the major coverup occurred from Pharmacia and Pfizer inherited the problem. But still it almost killed me and I can't get health insurance and for this they should pay. I qwant to also note, once I found the relationship, I offered to let Pfizer off off with just paying the copay on the hospital charges and they refused. I also had offered them a waver and confidentiality statement. They were greedy and said no. This should be the easiet case to finish out this nightmare.

Posted by Dr. Danny Westmoreland
Saturday, November 08, 2008 9:24 PM EST

I am a doctor who had a brother die of falilial polyposis at age 43. About 1998 My sister and I were diagnosed also with the same and we were both started on 400 mg Celebrex twice a day. At 46 yearas of age with total Cholesteral less than 160 and low trig., no smoking or heart diasease myself or family ever. I had a heart attack on my recliner watching a movie the week of my vacation. A cause was never found and there has not been vascular disease found. My risk factor was less than .5 and it happened. I conitnue to write the 200 mg and harbor no ill will toward Pfizer but feel they shoulf be responsible for the damages. Take my case as the sample case and it will end any debate. This story should have been the poter case for the suit and it wasn't because I feel due to less than aggressive lawyers. I think the major coverup occurred from Pharmacia and Pfizer inherited the problem. But still it almost killed me and I can't get health insurance and for this they should pay. I qwant to also note, once I found the relationship, I offered to let Pfizer off off with just paying the copay on the hospital charges and they refused. I also had offered them a waver and confidentiality statement. They were greedy and said no. This should be the easiet case to finish out this nightmare.

Posted by Dr. Danny Westmoreland
Saturday, November 08, 2008 9:24 PM EST

I am a doctor who had a brother die of falilial polyposis at age 43. About 1998 My sister and I were diagnosed also with the same and we were both started on 400 mg Celebrex twice a day. At 46 yearas of age with total Cholesteral less than 160 and low trig., no smoking or heart diasease myself or family ever. I had a heart attack on my recliner watching a movie the week of my vacation. A cause was never found and there has not been vascular disease found. My risk factor was less than .5 and it happened. I conitnue to write the 200 mg and harbor no ill will toward Pfizer but feel they shoulf be responsible for the damages. Take my case as the sample case and it will end any debate. This story should have been the poter case for the suit and it wasn't because I feel due to less than aggressive lawyers. I think the major coverup occurred from Pharmacia and Pfizer inherited the problem. But still it almost killed me and I can't get health insurance and for this they should pay. I qwant to also note, once I found the relationship, I offered to let Pfizer off off with just paying the copay on the hospital charges and they refused. I also had offered them a waver and confidentiality statement. They were greedy and said no. This should be the easiet case to finish out this nightmare.

Comments for this article are closed.

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