20 December 2004

External Events: Legal Liability

Pfizer has 10% of it's revenues coming to a halt as a result of the Celebrex Warnings about it's link to greater risk of Heart Attacks.

Pfizer Inc. said it would immediately stop advertising arthritis drug Celebrex to consumers after a study showed that high doses were associated with an increased risk of heart attacks, according to a published report.

The suspension of advertising is indefinite and includes television, radio, newspaper and magazine ads and other promotions to consumers, The New York Times reported on its Web site Relevant Products/Services from Verisign -- Free E-Commerce Start-up Kit, citing Pfizer spokeswoman, Mariann Caprino. Some magazine ads may appear for a few more weeks because of the long lead time of magazine advertising, she said.

If the Merck scenario with Vioxx is any indicator of the legal implications then Pfizer can also expect a series of class action suits to follow.

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