Chattem
This article was originally published in The Rose Sheet
Executive Summary
Chattanooga, Tenn. firm likely will be required to pay $20 mil.-$25 mil. to settle pending lawsuits filed against the company by consumers claiming injury related to ingestion of its Dexatrim weight loss product, which used to contain an ingredient linked to strokes, company reports May 25 during SunTrust Robinson Humphrey Institutional Investor Conference in Atlanta. However, the amount could be lower since the manufacturer of the ingredient may contribute $10 mil. under a proposed settlement. Chattem expects to confirm final settlement payout during the third quarter. As of Dec. 1, Chattem has been named as a defendant in approximately 300 lawsuits alleging injury due to ingestion of Dexatrim ingredient phenylpropanolamine (1"The Rose Sheet" Dec. 1, 2003, In Brief)...