Thought Leadership

Pfizer and Kano – Heads or Tail…the people loose

1 Mins read
Thought Leadership

Pfizer and Kano – Heads or Tail…the people loose

1 Mins read

Reuters – KANO, Nigeria, July 27 (Reuters) – Nigeria’s Kano state and drugmaker Pfizer Inc have reached a final court settlement in a multi-billion dollar lawsuit over a 1996 drug trial, lawyers for both parties said on Monday. The northern state of Kano sued the world’s largest drugmaker in May 2007 for $2 billion in damages over testing of the meningitis drug Trovan, which state authorities said killed 11 children and left dozens disabled. The lawyers would not describe the settlement, but a source close to the deal said it obliges Pfizer to pay $75 million.

Here’s how the $75 million will break down:

– $35 million of the settlement is slated to go to a fund that would provide payments to eligible people who participated in the Trovan study.

– $30 million of the settlement would be set aside for healthcare initiatives chosen by the Kano State government.

– $10 million of the settlement would be used to reimburse Kano State for legal costs associated with the lawsuit.

Pfizer says there will be some oversight on the Kano State initiatives and seeks to name a separate six-member board to oversee the $30 million allocated to support healthcare initiatives designated by Kano State. Kano State government does not want any interference and are calling for self determination in managing the disbursal of the settlement funds…

Naija….we know what that means ūüôā Aluta!

Credit to BNET for links.

Never doubt that a small group of thoughtful committed people can change the world; indeed it is the only thing that ever has…Margaret Mead

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