Pfizer Finalizes $75M Trovan Deal With Nigeria

Law360, New York (July 30, 2009, 9:33 PM EDT) -- Pfizer Inc. has finalized a $75 million agreement to settle its long-running legal feud with Nigeria's Kano state over allegations that the company's meningitis drug trials killed 11 children and caused brain damage in and paralyzed others.

Although the payout is only a fraction of the $2 billion the government sought in damages over the testing of the meningitis drug Trovan in 1996, the parties agreed the settlement represents the best solution to continue Pfizer’s efforts to improve health care in Nigeria, Pfizer and Kano said...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.