Nigeria, Pfizer reach settlement on drug lawsuit

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KANO, Nigeria, July 27 | Mon Jul 27, 2009 8:44am EDT

KANO, Nigeria, July 27 (Reuters) - Nigeria's Kano state and drugmaker Pfizer Inc (PFE.N) have reached a final out-of-court settlement in a multi-billion-dollar lawsuit over a 1996 trial of meningitis drug Trovan, lawyers for both parties said on Monday.

"We have settled and we are signing an agreement on Thursday," said Aliyu Umar, counsel for Kano state. (Reporting by Mike Oboh; Writing by Randy Fabi; Editing by Hans Peters)

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