Over 2,700 lawsuits have been filed against pharmaceutical giant Pfizer over its smoking cessation drug Chantix. The lawsuits allege that Chantix causes a variety of mental and physical injuries, including suicide, suicidal thoughts, and worsening depression and anxiety. In November of 2012, Pfizer began settlement negotiations with attorneys. In October 2012 and January of 2013, two Chantix bellwether cases were settled.
Now, in its annual filing with the Securities and Exchange Commission, Pfizer has agreed to settle about 80% of the 2,700 lawsuits, costing Pfizer approximately $273 million in 2012. The company has set aside another $15 million to resolve the rest of the claims in the U.S. Pfizer acknowledged that $15 million may not cover the actual costs it will incur in settling the remaining lawsuits.
Chantix has been approved in over 100 countries, and has been prescribed to 9 million patients in the United States.
Have you or a loved one been injured by Chantix? If so, contact a Chantix attorney at Kirkendall Dwyer LLP today. There is limited time to act, so contact us for your free case review today.