Pfizer Reaches Settlement In LawsuitJul 3, 2004 | UPI
Pfizer Inc. has reached a $60 million settlement in an Illinois class-action case that accused the firm of falsely marketing its diabetes drug Rezulin.
The two-year-old lawsuit accused the Warner-Lambert Co., which Pfizer bought in June 2000, of misrepresenting Rezulin's safety between 1996 and March 2000 when it stopped selling Rezulin, the St. Louis Post-Dispatch reported Saturday.
The suit alleged the drug caused liver problems in 5 percent of the people who used it, contradicting advertising about Rezulin's "unparalleled safety."
The preliminary settlement, under which Pfizer did not admit wrongdoing, was approved in May, but sealed until Friday.
The settlement calls for all current Illinois residents who bought Rezulin to recoup up to 85 percent of their out-of-pocket costs for the drug. Class members must prove they were prescribed Rezulin and provide documentation of how much they spent for the drug.