Wyeth Redux diet drug settlements
Executive Summary
"Fen-phen" intermediate and back-end opt-out claims filed in conjunction with Redux diet drug settlement total 90,000 as of May 3 deadline, Wyeth says May 15. National settlement trust has also logged more than 61,000 "matrix" claims, in which patients allege significant heart valve disease. "Only a fraction of the actual claim forms submitted will result in a payment," CFO Ken Martin tells analysts. Wyeth has approximately $1.8 bil. in reserves, in addition to $600 mil. in national trust; the company has recorded $14.6 bil. in litigation-related charges to date...