AstraZeneca said Tuesday it has made agreements in the product liability litigations related to Nexium and Prilosec.
The company said the agreements effectively resolve the product liability claims that are currently pending in the Multidistrict Litigation in the US District Court for the District of New Jersey, as well as in the Delaware Superior Court and the New Jersey Superior Court. The specific terms of the agreements are confidential, the company said in the press release.
AstraZeneca said it believes the claims are without merit and admits no wrongdoing in the settlement agreement. “These settlements avoid continued costly litigation and allow the Company to move forward with its purpose of delivering life changing medicines to millions of patients around the world,” the company said in the press release.
Furthermore, a single case remains pending in the US District Court for the Middle District of Louisiana. Trial is scheduled in that case for April 15, 2024, the company noted in the press release.
AstraZeneca said it will make payment of $425 million, for which a provision has been taken.