Pfizer Sets Aside $772 Million, Settles Third of Prempro Cases
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Pfizer Inc., which has settled a third of the pending cases over its Prempro menopause drug, said it set aside $772 million to resolve claims the medicine causes breast cancer.
Officials of New York-based Pfizer, the world’s largest drugmaker, said in a filing with the U.S. Securities and Exchange Commission yesterday that the reserve provides “the minimum expected costs to resolve all of the other outstanding” lawsuits over its hormone-replacement drugs. The company didn’t say how many cases would be settled.