Boston, MA 08/08/2014 (wallstreetpr) – Pfizer Inc. (NYSE:PFE) is facing a huge mountain of lawsuits over its anti-cholesterol drug known as Lipitor. The lawsuits come from women who claim to allege that Pfizer was aware about serious ill-effects of the drug, but did not warn the public even once. According to Reuters’s review of court filings, the wave of grievances by women in the U.S. jumped up from 56 in number to 1000. Women claim that consuming Lipitor pushed them towards type-2 Diabetes.
FDA’s Warning Concerning Lipitor Side Effects
The block-buster drug of Pfizer Inc. (NYSE:PFE) had earlier come under notice of the U.S. Food and Drug Administration, which in 2012, warned that taking Lipitor or other such statins was associated with the examples of memory loss as well a little more risk of diabetes. The lawyers of plaintiffs claim that taking Lipitor caused higher chances of developing diabetes among women in comparison to men and that also they gained fewer benefits than men.
Consolidated Lipitor Diabetes Lawsuits
The sword of lawsuits on Pfizer became sharper after the decision of federal judicial panel to combine all these diabetes-related lawsuits concerning Lipitor, from all over the U.S., under a common platform of Federal courtroom in Charleston in South Carolina.
Pfizer’s Response
In response, Pfizer Inc. (NYSE:PFE) while opposing consolidation claimed that it would lead to copycat filings. The first such case is in pipeline to be tried in court in July 2015. Also, the company said that it denied all such kinds of liabilities and that these lawsuits shall be fought against.
Why Lipitor-Related Lawsuits will hurt Pfizer?
Although it is quite common for companies to face a lot of lawsuits after FDA warns to change advisory, but Lipitor’s case is a bit different. It is quite noteworthy that these lawsuits would hurt Pfizer Inc. (NYSE:PFE) because Lipitor is its best-selling block-buster drug of all times. The global sales of this drug summed up to over $130 billion ever since its launch in the market in year 1996. Interestingly, over 29 million patients have been given the prescription of this drug in the country, which suggests that there lies a whole pool of plaintiffs who might file cases.
