Pfizer To Pay $486M To Settle Celebrex, Bextra Securities MDL

Law360, New York (August 2, 2016, 12:18 PM EDT) -- Pfizer Inc. will pay $486 million to settle long-running multidistrict litigation accusing it of misleading investors about the alleged risks of its pain treatments Celebrex and Bextra, according to an earnings report the pharmaceutical company filed Tuesday.

Pfizer will pay $486 million to end litigation, first filed in 2004, alleging the drugmaker and its top executives repeatedly misled investors regarding the safety of Celebrex and Bextra, which are primarily used to treat arthritis pain. (Credit: AP) Financial tables Pfizer filed with the U.S. Securities and Exchange Commission on Tuesday included expenses for a $486 million deal to end litigation first filed in...

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