Pharmaceuticals giant Pfizer Inc. announced Friday 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. Pfizer said Quigley was named in 171,611 lawsuits related to asbestos as of July 31.
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Pfizer Settlement Clears Asbestos Litigation
The Deal
September 8, 2004
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