Eliquis News: Pfizer Financials Show Eliquis Sales Continue To Grow Despite Health Concerns
Citing increased demand for novel oral anticoagulants (NOACs) generally and growing market share within that class of drugs, Pfizer revealed in recent financial filings covering the first quarter of 2018 that sales of its anticoagulant drug Eliquis—the product of a joint venture between Pfizer and Bristol-Myers Squib (BMS)—continued to grow dramatically, with worldwide revenue increasing by 35% in the first quarter of 2018 compared to the same period last year.
The growth in revenue from Eliquis belies the large number of health risks that continue to be associated with the drug, concerns that have resulted in a number of product-liability lawsuits over harms allegedly caused by the prescription medication.
According to Pfizer’s quarterly SEC filings, US revenues from Eliquis sales increased from $342 million in Q1 2017 to $435 million in Q2 2018, a change of $93 million, or 27%.
For the same periods, international revenues from Eliquis grew even more, from $223 million in Q1 2017 to $330 million in Q2 2018, representing an almost 50% increase. Worldwide revenue from Eliquis sales totaled over a quarter of a billion dollars for the first quarter of 2018 alone.
According to Pfizer’s financial filing, in most instances, profits and losses associated with Eliquis are shared equally between Pfizer and BMS.
Pfizer and BMS have faced a number of lawsuits in the United States over claims that the companies failed to adequately warn patients of the many dangers associated with Eliquis. According to Pfizer’s financial statement, “Eliquis is part of the Novel Oral Anticoagulant (NOAC) market; the agents in this class were developed as alternative treatment options to warfarin in appropriate patients.”
However, over time, NOACs including Eliquis have been found to have their own associated health risks, raising questions over whether drug makers overstated the supposed benefits of the new generation of anticoagulants while downplaying their dangers.
In its SEC filing, Pfizer included Eliquis among its “leading brands.”
20 of 21 Eliquis LawSuits Cut from MDL Case
A federal judge in New York has dismissed 20 of the 21 Multi-District Litigation (MDL) cases against Pfizer and Bristol-Myers Squibb over the alleged risks of its blood-thinning drug Eliquis.
Twenty-four other cases in the MDL were dismissed in June.
The central issue in the cases is whether the drugmakers adequately informed doctors and patients of the risks involved with Eliquis, a drug that plaintiffs allege can cause severe gastrointestinal bleeding.
The one remaining case against the drug manufacturers is that of Sheila Fortner, a Tennessee woman who experienced gastrointestinal bleeding upon taking Eliquis for the purpose of reducing her risk of a stroke.
The case against Eliquis has not yet been decided. If you believe that Eliquis is responsible for any gastric distress you may have experienced, you may still have a case. Contact TheLawFirm.com for a free consultation.
Lawsuit filed against eliquis manufacturer Bristol-myers squibb and pfizer
Two relatives of a man who died after taking the anticoagulant Eliquis have filed suit in New York against the drug’s manufacturers, Bristol-Myers Squibb and Pfizer, alleging that the companies inadequately tested the product for safety and concealed from the public the risks of the drug.
The suit alleges that the companies’ clinical tests of Eliquis took place in substandard conditions in Chinese labs, and that the makers of Eliquis knew about the drug’s potential hazards but knowingly concealed that information from patients and doctors.
Further, the suit alleges, the drugmakers have not made it clear to consumers that a mishap with the drug may be irreversible. Eliquis is a brand name for a drug known as apixaban. The side effects of other drugs in the apixaban family tend to be reversible.
The suit was prompted by the 2014 death of Raymond Warme, who died from gastrointestinal bleeding two months after he started taking Eliquis. In that same year, the FDA received reports of 100 deaths and more than 1000 adverse health problems that were alleged to be related to Eliquis. In 2015, a further 6000 cases of adverse health problems were reported. Most of the cases involved gastrointestinal hemorrhaging.
Eliquis remains on the market, its formula unchanged.
If you believe that your health problems have been caused by a drug that’s been improperly tested, or a drug whose dangerous side effects have been covered up, contact TheLawFirm.com. We can help you.