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Hearings Resumed on Shiley Fund

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A federal judge in Cincinnati resumed hearings Monday on the fairness of a proposal to establish a $205-million fund to compensate recipients of potentially defective Shiley heart valves.

Under the plan, Shiley Inc. in Irvine and its parent company, Pfizer Inc. in New York, would pay $75 million for research and valve replacement surgery and an additional $80 million to $130 million for physician consultations and anxiety-related medical expenses.

An independent panel, appointed by federal judge S. Arthur Spiegel, would recommend whether a recipient should have a valve replaced. The two companies also would set aside $300 million more for patient or survivor claims. The hearings are to resume today.

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Meanwhile, an Irvine law firm representing nearly 300 implant recipients has yet to reach an agreement with Pfizer attorneys that would modify the settlement proposal.

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