US pharmaceutical giant Pfizer has agreed to pay $894m to resolve claims stemming from litigation over its pain medications Bextra and Celebrex, the company said today.
Pfizer pulled its non-steroidal anti-inflammatory pain medication Bextra from shelves in 2005 following claims and personal injury cases alleging the medication was the cause of heart attacks, strokes or other injuries.
It has also faced personal injury litigation from users of Celebrex who suffered similar health effects.
Pfizer said the settlements would resolve over 90% of the known personal injury claims and the company would seek to claim some of the amount back through insurance.
The drug giant, which employs 80,000 people worldwide, also said it would settle legal action by 33 US states over promotional practices for Bextra and other consumer class action fraud cases related to the marketing of Bextra and Cerebrex.