Pfizer settles on asbestos

Pharmaceuticals giant Pfizer Inc. announced Friday, Sept. 3, a $965 million settlement to end all current and future asbestos litigation against the company and its Quigley Co. subsidiary.

The agreement, which would involve putting Quigley in Chapter 11 protection, is the latest in which a company mired in asbestos litigation decides to settle with plaintiffs' lawyers and then file for bankruptcy.

News Source: The Deal | Published: September 6, 2004 | Read Full Story

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