Pfizer (NYSE:PFE) has reached a significant settlement agreement to resolve over 10,000 lawsuits in the United States concerning the cancer risks associated wit



Pfizer Settles Zantac Lawsuits for Up to $250 Million Over Cancer Risks


blog post cover photo

Image credit: Spencer Davis

Pfizer (NYSE:PFE) has reached a significant settlement agreement to resolve over 10,000 lawsuits in the United States concerning the cancer risks associated with its discontinued heartburn drug, Zantac. According to a report by the Financial Times on Thursday, the pharmaceutical giant will pay up to $250 million to settle these lawsuits.

The settlement, which was disclosed in a court filing in Delaware, aims to mitigate Pfizer's potential liability related to Zantac. The company is set to pay between $200 million and $250 million in the settlement, as reported by the Financial Times, citing sources familiar with the deal.

Zantac, first approved in 1983, became one of the world's best-selling medicines by 1988, surpassing $1 billion in annual sales. However, concerns arose after the U.S. Food and Drug Administration (FDA) requested drugmakers to withdraw Zantac and its generic versions from the market in 2020. This decision followed the discovery of NDMA, a cancer-causing substance, in samples of the drug.

The settlement represents Pfizer's effort to address the legal challenges and potential financial liabilities associated with the allegations regarding Zantac's safety. By resolving these lawsuits, Pfizer aims to manage its legal risks and focus on its core business activities.

Pfizer has not immediately responded to requests for comment on the reported settlement. However, the agreement underscores the pharmaceutical company's commitment to addressing the concerns raised by regulators and consumers regarding the safety of its products.

Learn more about Pfizer's Stock Price Target here!

Other Blogs

Nov 25, 2023 6:39 AM - Parth Sanghvi

DCF Valuation vs. Comparable Companies Analysis: Choosing the Right Valuation Method

Choosing the Right Valuation Method: DCF vs. Comparable Companies Analysis Introduction: Valuation methods play a pivotal role in determining the fair value of a company, aiding investors in making informed investment decisions. Two commonly used methods, DCF Valuation and Comparable Companies A...

blog post title

Dec 23, 2023 2:19 AM - Parth Sanghvi

Understanding the Limitations of DCF Analysis: A Guide to Overcoming Challenges

Introduction: Discounted Cash Flow (DCF) analysis stands as a cornerstone in valuing investments, yet its efficacy is contingent upon various assumptions and methodologies. While a powerful tool, DCF analysis comes with inherent limitations and challenges that investors must acknowledge to make i...

blog post title

Dec 25, 2023 2:28 AM - Parth Sanghvi

Integrating Sustainability into Valuations: Navigating ESG Factors within the Discounted Cash Flow (DCF) Model

Introduction: The investment landscape is undergoing a profound shift with a heightened emphasis on sustainability and responsible investing. In this blog post, we explore the intersection of Environmental, Social, and Governance (ESG) considerations within the Discounted Cash Flow (DCF) model, h...

blog post title


Financial Modeling Prep API provides real time stock price, company financial statements, major index prices, stock historical data, forex real time rate and cryptocurrencies. Financial Modeling Prep stock price API is in real time, the company reports can be found in quarter or annual format, and goes back 30 years in history.
2017-2024 © Financial Modeling Prep