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After forcing workers back to the office, Goldman Sachs and JPMorgan Chase are now letting their staff work remotely—but only for the World Cup

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The Pentagon said Iran War costs $29 billion, but the real cost is closer to $200 billion—and counting

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HealthPfizer

A Federal Judge Dismissed More Than 300 Lawsuits Against Pfizer

By
Sy Mukherjee
Sy Mukherjee
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By
Sy Mukherjee
Sy Mukherjee
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April 7, 2016, 12:34 PM ET
American Pharmaceutical Company Pfizer Propose To Takeover British AstraZeneca
LEATHERHEAD, ENGLAND - MAY 07: The sign for the UK commercial headquarters of pharmaceutical firm Pfizer at Walton Oaks, which has over 900 employees on the 320-acre site, on May 7, 2014 near Leatherhead, England. The proposed takeover by American pharmaceutical giant Pfizer of its British rival AstraZeneca has led to the UK Business Secretary Vince Cable addressing Parliament to affirm the government's commitment to securing British science jobs. (Photo by Oli Scarff/Getty Images)Photograph by Oli Scarff — Getty Images
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U.S. pharma giant Pfizer (PFE) won big this week as a federal judge dismissed more than 300 lawsuits against the company.

The suits were part of a class action by hundreds of female plaintiffs alleging that Pfizer knew about a possible link between its popular antidepressant Zoloft and heart defects in newborns. The plaintiffs said that Pfizer had failed to warn pregnant women about the risks, pointing to internal company documents in which at least one scientist warned executives about the possible link.

But those arguments have done little to sway courts in the cases to date. Pfizer had already won a pair of jury trials relating to the Zoloft controversy.

 

“The court recognizes that the final scientific verdict as to whether Zoloft can cause birth defects may not be delivered for many years,” wrote U.S. District Judge Cynthia Rufe in her ruling dismissing the suits en masse. “Nevertheless, plaintiffs chose when to file their cases, and the court concludes that for the plaintiffs who have continued to pursue their claims, the litigation gates must be closed.”

While some of the cases may still proceed, Rufe’s decision to grant Pfizer’s dismissal request takes an enormous legal burden off its back.

Although Zoloft sales have waned in recent years amid patent expiration and competition from generics, it still brought in $375 million in sales last year.

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