Reuters recently reported that a federal judge in New York has approved a number of former Wyeth Inc. shareholders to join under a class action suit against the Pristiq marketer for misleading them about the risk associated with the anti-depressant drug. The shareholders are accusing Wyeth of misrepresenting the adverse side effects of Pristiq in order to led to the stock price’s inflation up until July 24, 2007 when the company lost over $7 billion of market value after The U.S. Food and Drug Administration denied Pristiq’s approval until it received more information regarding the serious heart and liver problems associated with the drug. (City of Livonia Employees’ Retirement System v. Wyeth et al.; No. 07-10329; U.S. District Court, South District of New York.)
Pristiq, formally marketed by Wyeth, which was purchased by Pfizer in 2009, is a type of drug known as a Serotonin-Norepinephrine Reuptake Inhibitor. Otherwise known as “desvenlafaxine,” the drug was first approved in 2008 to treat adults with major depressive disorder. However, the new suit by former Wyeth shareholders claims that the company withheld to them the potential for severe heart and liver side effects associated with its use. They claimed the company intentionally mislead the public about the serious side effects while Wyeth executives were publically commenting about the drug’s $2 billion a year potential.
To help protect the rights of individuals who may have suffered from these side effects while using the anti-depressant Pristiq, d’Oliveira & Associates is offering a No Win, No Fee Promise. To those who choose to hire d’Oliveira & Associates will be not be charged a fee unless they recover monetary damages such as through a settlement or judgment.
About d’Oliveira & Associates’ Dangerous Drug Attorneys: d’Oliviera & Associates is a law firm that works with some of the leading attorneys in the United States for dangerous drugs, defective medical products, and medical malpractice cases. The firm as focuses on personal injury cases, including auto accidents, slip and falls, dog bites as well as social security disability cases.
For a free legal consultation, call 1-800-992-6878 or visit their website at Pristiq Lawyer