Posted on 03/09/2009 in Pharmaceutical Company Financials Pfizer has finalised a previously disclosed settlement agreement with the department of justice (DOJ), relating to its promotional practises in the past.
The investigation involved the off-label promotional practices regarding Bextra - a product that Pfizer voluntarily withdrew from the market in 2005.
It also covers other drugs - Zyvox, Geodon and Lyrica - and concerns allegations related to payments to healthcare professionals involving these and nine other Pfizer treatments.
Amy Schulman, senior vice-president and general counsel of Pfizer, explained that the company is pleased to now have settled its legal affairs and can continue to focus on offering drugs to patients.
She added: "Corporate integrity is an absolute priority for Pfizer and we will continue to take appropriate actions to further enhance our compliance practices and strengthen public trust in our company."
Fellow pharmaceutical firm Abbott revealed last week that it plans to collaborate with Pfizer in the development of a molecular diagnostic test intended to screen non-small cell lung cancer (NSCLC) tumours for the presence of gene rearrangements.
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