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Drug giant Pfizer to pay record $2.3B fine ( What Do you think ) do you trust the drug companies?

Drug giant Pfizer to pay record $2.3B fine

* Story Highlights
* The record $2.3 billion fine is for illegally promoting certain pharmaceuticals
* One of those drugs was the anti-inflammatory medication linked to heart attacks
* Company plead guilty for "misbranding ... with the intent to defraud or mislead"

By Carol Cratty
CNN

WASHINGTON (CNN) -- Pharmaceutical giant Pfizer has agreed to pay a record $2.3 billion settlement to resolve criminal and civil liability for illegally promoting certain pharmaceuticals, the Justice Department announced Wednesday.

Officials from the Justice Department and the Department of Health and Human Services said the world's largest drug company promoted four drugs for use on certain ailments or at dosages that were not approved by the Food and Drug Administration.

One of those drugs was the anti-inflammatory medication Bextra, which Pfizer pulled off

Answer Question
 
abellvalerie

Asked by abellvalerie at 3:11 PM on Sep. 3, 2009 in Politics & Current Events

Level 2 (9 Credits)
Answers (2)
  • The terms call for Pfizer to conduct yearly audits and then certify it is in compliance with laws. They also require the company to create a way for doctors to report questionable behavior by Pfizer sales people, and say the company will post information on its Web site about payments and gifts to doctors.

    Pfizer issued a statement saying, in part, "We regret certain actions taken in the past, but are proud of the action we've taken to strengthen our internal controls."

    The Justice Department said the investigation and settlement would not have been possible without the assistance of whistle-blowers who worked at Pfizer. The settlement includes a provision for six of those whistle-blowers to split more than $100 million dollars.



    Find this article at:
    http://www.cnn.com/2009/BUSINESS/09/02/Pfizer.fine/index.html?imw=Y&iref=mpstoryemail
    abellvalerie

    Answer by abellvalerie at 3:11 PM on Sep. 3, 2009

  • abellvalerie

    Answer by abellvalerie at 3:13 PM on Sep. 3, 2009

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