American Home Products Corporation Announces Most Lawsuits Settled
This news update information page is intended to provide a summary of the recent legal and medical developments in the Fen-Phen diet drug lawsuits against American Home Products Corporation and Wyeth-Ayerst Laboratories and A. H. Robins.
On January 25, 2001 American Home Products Corporation, the manufacturer of
Pondimin and Redux, the diet pills that have been found by numerous medical
studies to cause heart valve injury and primary pulmonary hypertension,
announced that most of the lawsuits had been settled.
American Home Products Corporation (AHP) provided an information update to
shareholders and analysts in a telephone conference call. AHP announced that
it was adding a $7.5 billion dollar charge to its balance sheet to cover fen
phen settlements. The pharmaceutical company has reportedly allocated 12.25
billion dollars to the fen phen litigation.
AHP reported that it has settled 80% of the cases in which injured diet drug
users excercised an initial opt out right in the pending class action
lawsuit. AHP reported that there were only about 3,000 pending fen phen
lawsuits.
However, there are still an unknown number of injured diet drug users who
can still exercise an intermediate or back end opt out of the class action
and bring lawsuits for the full amount of their compensatory damages.
Fen Phen diet drug users who have not had an echocardiogram should get one
as soon as possible to protect their legal rights and their future health.
Please contact us though our contact page if you would like information on the pending cases in a specific state or if you would like us to find you an attorney in your state.
