BALA CYNWYD, Pa., March 27, 2002 (PRIMEZONE) -- The following statement was issued today by the law firm of Schiffrin & Barroway, LLP:
Notice is hereby given that Schiffrin & Barroway, LLP has filed a national class action lawsuit on behalf of all persons who were prescribed the weight loss drug Sibutramine, also known as Meridia (Reductil outside the United States). As alleged in the Complaint, Abbott Laboratories Inc., USA (NYSE:ABT), Knoll Pharmaceuticals Co., BASF Corporation and BASF Pharma are named as the defendants in this action due to their responsibility in manufacturing, promoting, marketing, distributing and selling Meridia. The class action seeks to (1) inform the public that users and consumers of Meridia are at an increased risk of harm and/or death, (2) establish a medical monitoring fund so that every consumer may be tested and treated for the adverse effects of Meridia, (3) reimburse monies paid for the product, and (4) provide compensation to all victims for personal injuries and death.
Meridia is a medication commonly prescribed for patients as an anti-obesity medicine. In 2001, Abbott had global sales of $200 million. Meridia has been available since 1997. To date, at least 33 deaths worldwide have been associated with Meridia, including 29 in the U.S. Of the 29 deaths in the U.S., 19 are directly linked to cardiovascular causes. Meridia is also responsible for 397 serious adverse reactions from use of the drug. Earlier this year, Italian health officials withdrew all Sibutramine products from the market due to 50 adverse health reports. The British Department of Health has reported 200 adverse reactions and two deaths. In France, drug regulators have reported 100 adverse events. On March 19, 2002, Public Citizen, a consumer watchdog group, petitioned the FDA to remove Meridia from the Market. According to the FDA, the agency is examining Public Citizen's petition as well as the deaths and illnesses linked to the drug.
Meridia was initially developed as an anti-depressant, but during the initial development of the drug, Knoll noted that Meridia had an ability to produce weight loss and, in 1990, Knoll began testing Meridia specifically as an anti-obesity agent. On September 26, 1996, the FDA advisory committee declined to recommend approval of Meridia, claiming that "Sibutramine has an unsatisfactory risk-benefit ratio and, therefore, this reviewer recommends non-approval of the original submission." The committee also expressed concern about blood pressure increase experienced by study participants. Following the FDA's initial disapproval, Knoll pushed for fast track approval. In 1997, the Food and Drug Administration (FDA) did approve Meridia, calling it "moderately effective" at helping patients lose weight. Today, worldwide, Meridia is marketed in seventy (70) countries and sold as Reductil in Europe. It is estimated that 8.5 million people globally have taken Meridia since its approval. An estimated 2 million people in the United States currently take the medication.
If you or anyone you know has been prescribed Meridia, you/they may be members of the class described above. Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Schiffrin & Barroway, LLP, which has significant experience and expertise prosecuting complex class actions nationwide. For more information on Schiffrin & Barroway, please visit www.sbclasslaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca