Pfizer Inc. has agreed in principle to pay $894 million to settle litigation related to its painkillers Celebrex and Bextra. The bulk of the settlement, $745 million, will resolve 90% of the known personal injury suits that allege the painkillers caused heart attacks and strokes, according to Pfizer, which will take a third-quarter pre-tax charge to earnings of $894 million, a statement provided by the company said.
Steve - now that Pfizer is settling to make all of this go away, it is another reminder for you to be extra cautious when your doctor wants to prescribe a new drug. As we have said for years, wait at least 1-2 years minimum until a drug is on the market before even thinking about taking it.
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