Pfizer reaches $486 million settlement of Celebrex, Bextra litigation

August 2, 2016 1:15 PM

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Pfizer reaches $486 million settlement of Celebrex, Bextra litigation

Pfizer Inc (PFE.N) on Tuesday said it has reached a $486 million settlement of nationwide litigation relating to its Celebrex and Bextra pain-relieving drugs.

The accord is subject to negotiation of a final settlement agreement and court approval, Pfizer said in a filing with the U.S. Securities and Exchange Commission. Pfizer said it has set aside enough reserves to cover the entire settlement.

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