"This disorder," the FDA web site says, "results in death in about 40% of affected individuals within 4 years."
Studies released in November 2001 suggest that the occurrence of PPH may be 7 times higher than anticipated in 1997, when the diet drug were removed from the market.
According to the FDA, the disorder can also occur in association with valvular heart disease, but the class action settlement still does not apply even in those cases. However, this ruling may turn out to be the nail in the coffin for Wyeth.
On April 27, 2004, a Texas jury awarded over $1 billion to the family members of a woman who died of PPH after taking fen-phen for about two years. The verdict included $113.4 million in compensatory damages, and $900 million in punitive damages, according to Wyeth's 2005 Annual Report filed with the SEC. The case was later settled for an undisclosed amount.
As of July 24, 2006, Wyeth told shareholders in its latest SEC filing, the company is listed as a defendant in 103 lawsuits that allege a claim of PPH, alone or with other injuries, and in approximately two additional lawsuits pleaded as valvular regurgitation cases, the plaintiff's attorneys have advised the company that the plaintiffs will allege a claim of PPH.
Back in February 2006, at the Merrill Lynch health-care conference in New York, Kenneth Martin, chief financial officer of Wyeth, said he was hopeful that the remaining lawsuits may be "wrapped up" within 12 to 24 months.
However, according to Fen-Phen e-Resource, Natexis Bleichroeder analyst, Jon LeCroy, said Wyeth may be able to eliminate "the bulk" of the cases within the next 24 months, but predicted it will take at least 4 more years to eliminate cases involving serious heart-valve damage and cases involving fen-phen users who developed PPH.
"So we are assuming Wyeth will need to take another $4 billion in fen-phen charges through 2010," Mr LeCroy said.
Jury selection for the next state court trial is set to begin on September 1, 2006, in a PPH case brought by Beverly "Kim" Tilmon of Palestine, Texas, seeking a combined total of $180 million in compensatory and punitive damages, according to the June 15, 2006 Palestine Herald.
Ms Tilmon alleges she developed PPH, after taking fen-phen for four months in 1997.
This case ended in a mistrial on January 31, 2006, when Texas Judge, Jim Parsons, ruled that defense attorneys "exceeded the boundaries" during opening statements.
Information for injured parties can be found at Lawyers and Settlements.com
http://www.lawyersandsettlements.com/articles/fen_phen.html
Evelyn Pringle
evelyn.pringle@sbcglobal.net
Studies released in November 2001 suggest that the occurrence of PPH may be 7 times higher than anticipated in 1997, when the diet drug were removed from the market.
According to the FDA, the disorder can also occur in association with valvular heart disease, but the class action settlement still does not apply even in those cases. However, this ruling may turn out to be the nail in the coffin for Wyeth.
On April 27, 2004, a Texas jury awarded over $1 billion to the family members of a woman who died of PPH after taking fen-phen for about two years. The verdict included $113.4 million in compensatory damages, and $900 million in punitive damages, according to Wyeth's 2005 Annual Report filed with the SEC. The case was later settled for an undisclosed amount.
Back in February 2006, at the Merrill Lynch health-care conference in New York, Kenneth Martin, chief financial officer of Wyeth, said he was hopeful that the remaining lawsuits may be "wrapped up" within 12 to 24 months.
However, according to Fen-Phen e-Resource, Natexis Bleichroeder analyst, Jon LeCroy, said Wyeth may be able to eliminate "the bulk" of the cases within the next 24 months, but predicted it will take at least 4 more years to eliminate cases involving serious heart-valve damage and cases involving fen-phen users who developed PPH.
"So we are assuming Wyeth will need to take another $4 billion in fen-phen charges through 2010," Mr LeCroy said.
Jury selection for the next state court trial is set to begin on September 1, 2006, in a PPH case brought by Beverly "Kim" Tilmon of Palestine, Texas, seeking a combined total of $180 million in compensatory and punitive damages, according to the June 15, 2006 Palestine Herald.
Ms Tilmon alleges she developed PPH, after taking fen-phen for four months in 1997.
This case ended in a mistrial on January 31, 2006, when Texas Judge, Jim Parsons, ruled that defense attorneys "exceeded the boundaries" during opening statements.
Information for injured parties can be found at Lawyers and Settlements.com
http://www.lawyersandsettlements.com/articles/fen_phen.html
Evelyn Pringle
evelyn.pringle@sbcglobal.net
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