Pfizer facing spike of Lipitor lawsuits

Pfizer (NYSE:PFE) is facing an increasing amount of lawsuits by women who state that the pharmaceutical giant knew about the serious side effects of its anti-cholesterol drug Lipitor but never adequately warned the public.

Lawsuits began to be filed after the FDA in 2012 warned that Lipitor and other statins had been linked to a "small increased risk" of diabetes. In the last five months, lawsuits have shot up from 56 to almost 1,000.

The recent spike followed a decision by a federal judicial panel to consolidate all nationwide Lipitor diabetes lawsuits into a single Federal courtroom in Charleston, South Carolina. Pfizer opposed the consolidation, arguing it would promote copycat filings.

PFE -0.9% premarket

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs