Pfizer Settles with Nigeria for $75 Million

Pfizer, one of the largest drugmakers in the world, finally settled a lawsuit filed by the African country of Nigeria. According to an Associated Press source, Pfizer has agreed to pay a total of $75 million in damages.

In 1996, Pfizer conducted experiments that were aimed at aiding Nigerians with meningitis. Instead, nearly a dozen children died in the 200 person study. Others were left handicapped for life. While Pfizer contends that it was meningitis that did the damage — not their drugs — this settlement is better for the company than the $5 billion Nigeria initially sought.

Of the $75 million, $30 of it will go to health care needs in Nigeria. The victims in this case will split $35 million, while the remaining $10 million will go to cover legal fees.

Pfizer is headquartered in New York City and has more than 80,000 employees located around the world. Their drugs include Lipitor, Viagra and Celebrex.

Pfizer (Image: Flickr)