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Article: Diet Pill Maker Discloses Details of Class-Action Settlement.(Knight Ridder/Tribune Business News)
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 13, 2000
- Author:
CopyrightCOPYRIGHT 2000 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Apr. 14--With a crucial court hearing looming, American Home Products Corp. yesterday disclosed that four out of five diet-pill users agreed to participate in a $4.8 billion settlement to resolve thousands of lawsuits filed over its two recalled diet drugs.
Approximately 200,000 people who took either Pondimin, one half of the former fen-phen weight-loss cocktail, or Redux, its chemical cousin, registered to receive some form of compensation from the Madison drug maker.
By comparison, about 45,000 people chose not to participate in the settlement, which means they may continue to pursue lawsuits. Given that an estimated 5.8 million people took either ...