Tuesday, October 23, 2012

Pfizer Inc.(NYSE:PFE) Denied Of Trial-Delay Request

A federal judge has refused Pfizer’s request to holdup the start of the first product-liability trial surrounding its smoking-cessation drug, Chantix. Pfizer said that the delay was essential as some new clinical data had come into scene.
Based in New York, Pfizer is being confronted with over 2.600 lawsuits in federal court that involve accusations related to smoking cessation drug, Chantix. Apparently, the drug has caused users to commit suicide or go through other problems related to mental health. The drug maker has not been able to warn its users of the risks. Safety issues associated to the drug have affected the sales growth adversely.
The first trial is supposed to start on Monday in federal court in Alabama. It starts from a lawsuit brought by a Duluth, Minn. woman accusing the use of the drug by her husband to have been the possible reason behind his death. Judy Whitely has alleged that Pfizer has failed to warn about the risks that are involved in using Chantix. She is presently seeking damages.
Pfizer has refused all the accusations and has argued in its court papers that there is no proof of Chantix having caused suicidal-related occurrences. It also said that it has adequately warned its users regarding the potential risks surrounding the use of Chantix.
On Tuesday, lawyers for Pfizer filed a motion seeking to pu the start date of the trial on hold since the company has released results on Tuesday about a clinical trial that involves Chantix. The study has found Chantix more successful than a placebo in helping people with past/ present depression and there was no difference between the drug and a placebo in terms on psychiatric health.
As per the motion filed by Pfizer on Tuesday, the company has asked a federal judge to put the trial on hold and let all parties to complete discovery and other pre-trial motion practice. 

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