Pfizer Agrees To Pay $93M To Settle Lipitor Antitrust Lawsuit Despite Calling Allegations 'Factually And Legally Without Merit'
Portfolio Pulse from Benzinga Neuro
Pfizer Inc (NYSE:PFE) has agreed to pay $93 million to settle an antitrust lawsuit over its cholesterol drug Lipitor, accused of delaying generic versions with Ranbaxy Laboratories. The settlement, pending judge approval, ends over a decade of legal battles without Pfizer admitting liability. The lawsuit against Ranbaxy, now owned by Sun Pharma, continues. This adds to Pfizer's recent legal challenges, including patent infringement lawsuits and allegations of misleading COVID-19 vaccine efficacy.
February 15, 2024 | 7:24 am
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Pfizer settles for $93M in a Lipitor antitrust lawsuit, adding to its recent legal challenges without admitting liability.
The settlement of $93 million, while not admitting liability, indicates ongoing legal challenges for Pfizer, potentially affecting investor confidence and the company's financials in the short term. Legal expenses and the negative publicity from such settlements can lead to a decrease in stock price, especially considering Pfizer's recent history of legal issues.
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