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Pfizer Reserves Funds for Prempro Product Liability Litigation

Pfizer’s first-quart report included a charge of $472 million primarily to cover settlements and potential future liabilities in the long-running product liability litigation surrounding Pfizer’s hormone-replacement therapies including Prempro. A spokesman said the company plans to continue its strategy of defending itself against lawsuits and striking settlements when appropriate. Presently, approximately more than 8,000 cases have been filed in this litigation. The vast majority of the claims involve women who developed breast cancer after using combination estrogen and progesterone. Whether the long-running litigation is coming to an end is unclear.

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