Full Answer
How much will the settlement pay out?
The settlement, valued at $3.75 billion before inflation, will be divided into two funds. One fund, valued at $1 billion, will pay for drug refunds and medical screening costs. The second fund, valued at $2.55 billion, will pay personal injury claims, with awards ranging up to $1.5 million.
What is the value of the $4 billion drug settlement?
Teva's proposed settlement would allow state and local governments to opt for additional cash in lieu of an allotment of the overdose medication, at a value of 20% of the drug's list price. The cash value of the settlement could reach $4.25 billion if state and local governments opt to receive money in lieu of the drugs.
How much is the Teva settlement worth?
The cash value of the settlement could reach $4.25 billion if state and local governments opt to receive money in lieu of the drugs. Israel-based Teva also will pay about $100 million to Native American tribes and pay attorneys fees incurred by the states, local governments and tribes.
How much did American Home Products pay for fen-phen injuries?
TimesMachine is an exclusive benefit for home delivery and digital subscribers. The American Home Products Corporation agreed yesterday to pay $3.75 billion in total to thousands of people who contend they were injured by taking the popular diet pill combination fen-phen.
What is the fen-phen lawsuit?
In 1999, the American Home Products Corporation agreed to a $3.75 billion settlement of a class-action lawsuit engineered by patients who experienced heart defects after taking the company's Fen-Phen diet pill combination.
Why was fen-phen taken off the market?
The FDA ordered fenfluramine and dexfenfluramine off the market in September 1997 after those drugs were linked to heart valve problems. Fenfluramine was one of the ingredients in "fen-phen," and dexfenfluramine is closely related to fenfluramine.
Who produced fen-phen?
(CNN) -- American Home Products Corporation (AHP), makers of the diet drug combination fen-phen, agreed Thursday to pay $3.75 billion in compensation to thousands of people who used the diet drugs before they were removed from the market in 1997 after being linked to heart valve disease.
Who made Fin Fin?
Fin Fin was produced by Makoto Tezuka. Fujitsu Interactive, Inc. Fujitsu Interactive, Inc. Fin Fin responds to the player's tone of voice and volume of the voice - one reviewer describing Fin Fin as a 'virtual mood ring'.
Can you still get Phen Fen?
Fen-phen is no longer widely available.
Was Fen-Phen ever approved by the FDA?
Even though the FDA never approved Fen-Phen for safe use, manufacturers quickly produced the drug to meet the rising demand from patients around the country. Not long after Fen-Phen was introduced, another version of fenfluramine called Redux® entered the market.
Why do dentists ask about Phen Fen?
The concern for dental professionals is determining who has taken Fen-Phen and who is at risk for such valve damage. It means we must not only ask patients what drugs they currently are taking, but what drugs they have taken in the past and how long they took the drugs.
Was phentermine taken off the market?
Fen-Phen was taken off the market by the U.S. Food and Drug Administration (FDA) in 1997 after safety concerns surrounding fenfluramine. Phentermine alone, however, has been used for decades and appears to be a safe and effective weight loss medication when used in the short-term in healthy individuals.
What is similar to fen-phen?
But a small drug maker, Arena Pharmaceuticals, said today at the JPMorgan Healthcare Conference that they have a compound that will work like Fen-Phen, but without the side effects. It's called lorcaserin, and halfway through its final stage of clinical trials, so far, so safe.
How many people took phen phen?
Some six million people took the diet drugs Pondimin, American Home Products' brand name for fenfluramine, the ''fen'' in fen-phen, and Redux, a similar drug. The drugs were hailed earlier in the decade as miracle pills for obesity, as an alternative to pure diet and exercise.
Is phentermine similar to PhenQ?
PhenQ takes on obesity head-on, but unlike phentermine, which only reduces appetite, this supplement targets weight loss in a five-pronged approach starting with fat storage blockage and ending with an uptick in energy and mood.
What does phen stand for?
Phen, an abbreviation for phentermine in the pharmaceutical drug known as fen-phen.
Is Phentermine hard on your kidneys?
Phentermine can cause elevation of the blood pressure and this can hasten the deterioration of kidney function.
How long does it take for phentermine to take effect?
Phentermine takes about three to five days to build up in the system (to what is called a steady state ), which is why some people report not feeling its full effect until being on it for several days.
How much did the American Home Products Corporation pay for the Fen Phen lawsuit?
The American Home Products Corporation agreed yesterday to pay $3.75 billion in total to thousands of people who contend they were injured by taking the popular diet pill combination fen-phen. Under the settlement -- one of the largest ever in a product liability case -- people who used one of the diet drugs for 60 days or less would be eligible ...
When will Biden give a $10 million reward?
July 15, 2021, 1:00 p.m. ET. Biden makes a new push in fight against ransomware, including a $10 million reward. Here’s what’s happening in the markets today. Morgan Stanley’s profit beats estimates on a surge in deal-making.
How long will the Fen Phen fund be open?
The fund will remain open for up to 16 years, leaving American Home Products liable for a higher payout. Plaintiff's lawyers calculated yesterday that with interest, American Home Products could pay as much as $4.83 billion. That would put fen-phen as one of the highest product injury settlements ever, dwarfing the $3.2 billion Dow Corning paid last year to settle its silicone breast implant claims.
What happened to Pondimin and Redux?
Pondimin and Redux depressed appetite, while the other drug in the combination, phentermine, increased the rate at which calories were burned. Doctors at the Mayo Clinic reported heart valve defects in the summer of 1996. Since the drugs were pulled off the market, some 6,500 lawsuits encompassing 11,000 people have been filed.
How much did American Home Products take from third quarter earnings?
American Home Products said yesterday that it would take a $3.29 billion after-tax charge against third-quarter earnings to pay for the settlement. Analysts were optimistic that the company's stock would increase now that it had moved aggressively to put the fen-phen liabilities behind it.
How many people took Pondimin?
Some six million people took the diet drugs Pondimin, American Home Products' brand name for fenfluramine, the ''fen'' in fen-phen, and Redux, a similar drug. The drugs were hailed earlier in the decade as miracle pills for obesity, as an alternative to pure diet and exercise. Diet centers actively promoted the pills to ...
Can you opt out of a Fen Phen settlement?
The fen-phen settlement also represents a bit of unusual legal maneuvering. It is rare for a national class-action settlement to allow participants to ''opt out'' and pursue an individual case at three separate points. Under the settlement, consumers can opt out in the beginning, when they discover they have a leaky heart value during the screening process, or when they learn the amount of their injury award.
How much did the tobacco companies pay in the settlement?
The final settlement agreement required these companies to pay $206 billion dollars.
How much did the Fen Phen settlement cost?
In 2000, a federal judge approved a $3.75 billion settlement for victims of the diet drug known as fen-phen. The drug potentially caused fatal heart valve damage. Before the drug was removed from the market, it was used by millions of people as a weight loss aid.
How much did the jury award to 22 women after they claimed the powder caused their ovarian cancer?
That’s why a jury awarded a $4.69 billion dollar payout to 22 women after they claimed the powder caused their ovarian cancer.
Why was the oil spill payout so large?
A major reason for the size of the payout was to cover the federal penalties for the massive amount of environmental damage directly caused by the spill. The remaining amount went to state and local governments for recovery efforts, as well as for private settlements for victims of illnesses like cancer.
How much did BP pay for the 2010 oil spill?
A New Orleans judge gave final approval on a payout nearing $20 billion dollars, which would be paid in both private and public settlements.
Who were the tobacco companies in the 1998 Master Settlement Agreement?
This included Philip Morris, R. J. Reynolds, Brown & Williamson, and Lorillard.
Why was the case of the cigarette case important?
This was an important case in America because it imposed major changes to the ways tobacco companies were able to market their products. Without this ruling, Big Tobacco marketing practices may have continued unchecked, including targeting young people. This settlement is thought to have prevented countless respiratory illnesses and cancers.
Don't lose out on financial aid money to pay for school
Believe it or not, financial aid money goes unclaimed every year. Make sure you're getting your share.
1. File the FAFSA
The FAFSA stands for Free Application for Federal Student Aid, but it’s not just for federal aid. It’s required for state and school aid as well. If you don’t fill out and submit the FAFSA, it can be detrimental to your odds of getting financial aid. And though it has a reputation for being difficult, its bark is actually worse than its bite.
2. Complete supplemental forms
When it comes to state aid and financial aid from your college of choice, you may be required to fill out additional forms. Do not skip these forms. They ask more in-depth, circumstantial questions than the FAFSA to get a better idea of how each family can pay for college.
3. Review your aid packages and make appeals
When college decisions arrive, they usually contain – or will be followed shortly thereafter – with your financial aid package. Once you’ve heard from all of your colleges, compare the packages to determine which school is the best financial fit for you. You can compare offers to see how much you would have to pay after financial aid.
4. File the FAFSA EVERY year
Finally, the FASFA is not a one and done type application. You must file the FAFSA every year to be considered for financial aid. To fail to fill out the FAFSA would mean no financial aid for the following school year.
