Wyeth and Plaintiff Agree to Settlement
MADISON, N.J., Nov. 3 /PRNewswire-FirstCall/ -- Wyeth (NYSE:WYE) announced
today that the jury deliberating in the case of Larry Hines v. Wyeth in Los
Angeles Superior Court rendered its decision, finding in favor of the
plaintiff. The verdict was rendered November 2 and came at the close of the
damages phase of this bifurcated (two-phase) trial, in which the plaintiff was
awarded $115,000 in compensatory damages. This case would have proceeded to
the second, liability phase of the trial, however, both parties have agreed to
a monetary settlement, and have thereby ended the trial.
The trial began on October 27, 2004 before The Honorable Daniel S. Pratt.
The plaintiff alleged heart valve injury from the use of the diet drug
Pondimin, a drug once marketed by Wyeth.
The first phase sought to determine whether the plaintiff was injured as a
result of using Pondimin, and if so the amount of damages. The second phase
would have determined liability.
Wyeth is one of the world's largest research-driven pharmaceutical and
health care products companies. It is a leader in the discovery, development,
manufacturing, and marketing of pharmaceuticals, vaccines, biotechnology
products and nonprescription medicines that improve the quality of life for
people worldwide. The Company's major divisions include Wyeth
Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health.
SOURCE Wyeth
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Related links:
http://www.wyeth.com
CONTACT:
media, Douglas Petkus, +1-484-865-5140, or
Natalie de Vane, +1-484-865-5139, both of Wyeth Pharmaceuticals;
or investors, Justin Victoria of Wyeth, +1-973-660-5340
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