Report says Pfizer (NYSE: PFE) will pay approx $ 330 million to settle claims related to the Prempro menopause drug.

A report by Bloomberg says Pfizer (NYSE: PFE) will pay approximately $ 330 million to settle claims related to the Prempro menopause drug.

http://www.bloomberg.com/news/2010-08-27/pfizer-settles-arkansas-prempro-case-before-retrial-over-punitive-damages.html

"The drugmaker faced more than 10,000 claims that its menopause drugs caused breast cancer prior the settlements, which were reached during the past five months, the people said. That number included more than 8,000 cases consolidated in federal court in Arkansas and other cases in state courts in Pennsylvania, Nevada and Minnesota."

Pfizer is facing numerous suits claiming that its hormone replacement therapy caused breast cancer.