Pfizer has once again agreed to pay a massive settlement as a result of dangerous medications. According to this Reuters article, Pfizer Inc. has agreed to pay $67.5 million to settle a class action lawsuit brought by former Wyeth Inc. shareholders, alleging that they were misled about risks associated with the antidepressant Pristiq which resulted in an over-inflation of its stock price. The settlement follows almost six months of mediation and still requires approval by U.S. District Judge Richard Sullivan.
The settlement, which will be an all-cash settlement, comes on the heels of another substantial Pfizer settlement. About a month ago, Pfizer settled a separate lawsuit alleging that it misled investors about clinical trial results for the arthritis drug Celebrex for $164 million.
Pristiq is an antidepressant that works by increasing levels of the neurotransmitters serotonin and norepinephrine by blocking proteins that result in the re-absorption of the neurotransmitters between nerve cells.
Pristiq has been shown to cause liver problems and a number of serious side effects, including drowsiness, dizziness, nausea, dry mouth, constipation, loss of appetite, weight loss, blurred vision, nervousness, trouble sleeping, excessive sweating, and increased blood pressure. When Pristiq is taken during pregnancy, it has been linked to a number of severe heart and lung birth defects. There is also a concern that Pristiq and other antidepressents, such as Prozac and Paxil, can result in an increased risk of suicide in young children and teenagers who are taking the antidepressants.
In 2004, the U.S. Food and Drug Administration (FDA) required manufacturers of all antidepressant medications to include a “black box” warning on the drug’s label that describes the increased risk of suicide and suicidal thoughts and behavior in children and adolescents given antidepressant medications.
The Chicago antidepressent lawsuit attorneys at Ankin Law Offices, LLC have significant experience representing clients in product liability lawsuits, including class action cases and unsafe pharmaceutical litigation. If you have suffered serious side effects or health problems as a result of taking Pristiq, Prozac, Paxil, Zoloft or other prescription antidepressant, our skilled Illinois unsafe pharmaceutical attorneys can help you with any product liability lawsuit you may have.
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