Is there any reason why Pfizer shares are down today? Just yesterday, shares were trading at ~ $17.30. Today, with the DJIA up by 0.7%, Pfizer is down by nearly 1%. A clue to this sell-off MIGHT be due to the anticipation by investors of increasing pressure to change the way drugs are prescribed. This could also trigger several lawsuits down the road.
Can calling your mom worsen your symptoms if you’re a schizophrenic? Or does taking antipsychotic medicine help you to remember to call your mom more often? One of those possibilities seems to be the claim in this ad for AstraZeneca (AZN)’s Seroquel, an antipsychotic that has been the subject of 10,399 lawsuits
GlaxoSmithKline has paid out close to $1 billion to resolve lawsuits involving Paxil since the drug came on the market in 1992, according to a December 14, 2009 Bloomberg report. But the billion dollars does not cover the more than 600 Paxil birth defect cases currently pending in multi-litigation in Pennsylvania.
AstraZeneca Plc is facing as many as 26,000 lawsuits over its antipsychotic drug Seroquel as the drugmaker prepares for its first jury trial over claims the medicine causes diabetes, according to court filings.
The fact that GlaxoSmithKline (GSK) has paid $1 billion to settle lawsuits related to Paxil was disclosed by Bloomberg and not the company itself illustrates how lousy financial disclosure rules are in Europe and why drug companies based there cannot be trusted to tell the truth about what is going on with their litigation liabilities and, by extension, the safety of their drugs.