The new settlement amounts in the Lipitor lawsuit are a windfall for individual plaintiffs who will receive over $10.7 billion from Pfizer, which faces many legal challenges due to its sale of lipitor. The US Department of Justice has also filed charges against Pfizer for concealing information about risks associated with rosuvastatin and other similar drugs used by consumers as well as promoting misleading messages that outweighed evidence-based research on the benefits of atorvastatin (Lipitor’s generic version).
The “lipitor settlement in 2021” is the amount of money that will be paid out to settle a lawsuit against Pfizer. The amount is unknown as of yet, but it’s expected to be around $10 billion.
Pfizer has a track record of settling multibillion-dollar lawsuits.
Lipitor, a cholesterol-lowering drug, may cause more damage than help in certain people. Thousands of people have sued Pfizer, the producer of Lipitor, for getting type 2 diabetes after using the medicine.
Although no Lipitor settlements have been announced yet, Pfizer has a history of resolving claims for millions of dollars, as seen below.
Pfizer pays $468 million to settle charges of concealing cardiovascular risks (2016)
Pfizer stockholders sued the company’s headquarters for allegedly concealing the dangers of Celebrex and Bextra, resulting in financial losses. An increased risk of heart attacks and strokes has been related to the use of pain medicines.
Shareholders claimed the business was aware of the medications’ cardiovascular dangers, which were shown in safety research findings from 1998 to 2004, but neglected to inform the public. Pfizer settled the claim for $468 million in 2016.
Merck has agreed to pay $688 million for Vytorin (2013)
When it was found that Merck hid the bad results of Vytorin, a competitor anti-cholesterol medicine, in its clinical study, stockholders launched two class action lawsuits against the corporation. The experiment indicated that Vytorin was no better than less costly medications at preventing plaque development in the arteries.
Merck’s stock dropped 15% when the findings were released in 2008. The corporation allegedly kept the study findings hidden for more than a year, according to shareholders. Merck settled the cases for $688 million.
AstraZeneca has spent $647 million exploring a diabetes link (2011)
Seroquel was related to diabetes and weight gain, and AstraZeneca was hit with roughly 30,000 claims.
Seroquel, an antipsychotic drug made by AstraZeneca, has been associated to diabetes and weight gain. Nearly 30,000 claims were filed against the drug company, which finally settled for $647 million.
The firm covered up the medication’s dangerous side effects in a major cover-up, according to the lawsuit. According to the New York Times, a 1997 internal document congratulated corporate officials for putting a “good spin” on a “cursed research” and executing a “great’smoke-and-mirrors’ job.”
AstraZeneca Pays $520 Million for Off-Label Marketing (2010)
AstraZeneca not only covered up Seroquel’s diabetes connection, but it also unlawfully promoted the antipsychotic medicine to physicians by promoting its use on youngsters and the elderly, something the FDA had not approved.
Seroquel caused weight increase in children, and also caused health difficulties in the elderly, such as heart failure and pneumonia, which led to death. An FDA black box warning was issued as a consequence of the increase in senior mortality.
AstraZeneca agreed to a $520 million settlement in 2010 for misleading marketing.
Pfizer Pays FDA a Record-Breaking $2.3 Billion (2009)
Pfizer made history in 2009 for all the wrong reasons. Their payment to the FDA of $2.3 billion was the biggest healthcare fraud settlement and criminal fine in history.
Bextra, a Pfizer medicine, was licensed by the FDA for arthritic and menstrual pain, but it was also sold for acute and surgical pain, typically at larger dosages than those permitted. The FDA cautioned that the larger the dosage, the greater the risk of renal, skin, and cardiac issues.
The business paid for physicians’ weekend trips to further solidify Bextra’s choice among doctors (along with Pfizer’s Geodon, Zyvox, and Lyrica).
Bayer Statin has reached a $1 billion settlement (2005)
3,000 lawsuits have been filed against Bayer for their own statin, Baycol. Plaintiffs claimed the medicine caused rhabdomyolysis, a disease in which muscular tissue is eroded. In certain people, severe rhabdomyolysis may lead to renal failure, paralysis, and even death.
Bayer agreed to a $1 billion settlement in 2005.
Lipitor’s approval is still pending.
Patients who have been diagnosed with type 2 diabetes have filed lawsuits against Pfizer. Given the company’s track record, some of the Lipitor claims are expected to be settled. Until then, ClassAction.com will continue to bring you the most up-to-date information on class action settlements.
The “lipitor lawsuit liver damage” is a medical malpractice case that was filed against the pharmaceutical company Pfizer. The settlement amount for this case has been released and it is now available for public viewing.
Frequently Asked Questions
Has the Lipitor lawsuit been settled?
A: The Lipitor lawsuit is still ongoing, and there has been no final court ruling as of yet.
How much is Lipitor worth?
A: Lipitor is a medication that helps reduce the risk of cardiovascular disease. It has several different formulations, so its hard to say how much one might be worth without knowing what type youre taking or your health insurance plan.
What is the biggest payout in a lawsuit?
A: The biggest payout would be the one that receives a judgment of $100,000.00 USD or more.
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