Aside from the sales impact, the Chantix news could cause another headache for Pfizer: lawsuits.
"These kinds of announcements tend to draw lawyer attention," Funtleyder said. "Some sort of lawsuit is almost inevitable. Whether or not there is any merit is another question."
Pfizer declined to comment on any possible legal issues surrounding a Chantix Lawsuit or any possible sales declines.
The motivation for patients to file liability suits is clear following some huge payouts in recent years. For example, Merck & Co. (MRK) is trying to finalize a $4.85 billion settlement of thousands of suits filed over its painkiller Vioxx, pulled from the market in 2004 because of elevated risk of cardiovascular events.
"It's clear that Chantix is dangerous," said Kristian Rasmussen, a partner with the law firm Cory Watson Crowder & DeGaris in Birmingham, Ala.
Notably, Rasmussen said his firm has received 1,300 inquiries from concerned Chantix users since the release of the report late Wednesday.
But Funtleyder is quick to point out that the Chantix situation is much different than that of Vioxx, and sales are much lower than those of Vioxx, which had $2.5 billion in its last full year.
He doesn't believe the litigation issues will become material, but that the potential legal situation is dynamic and "impossible to handicap."
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