Pfizer takes a $784M hit with Medicaid pricing settlement
Pfizer is forking over $784 million to settle claims that its Wyeth unit overcharged Medicaid for its heartburn med Protonix. The agreement marks one of the biggest settlements to date from drugmakers facing similar allegations.
EPA presents Pfizer with $194M bill to clean up former American Cyanamid site
The cleanup of the former American Cyanamid drug manufacturing site in Bridgewater, NJ, has been ongoing for decades. But the EPA this week presented Pfizer with a bill for its share of the cost of cleaning up the superfund site.
India drug IP laws in spotlight again in local Fresenius Kabi-Pfizer case
India's policy regarding intellectual property protection has bounced back once again to deny an MNC patent challenged by a local drugmaker. This one was filed by the local unit of Fresenius Kabi Oncology against a Pfizer patent.
Pfizer partner Catalyst finds shortcut to Nasdaq in reverse merger with Targacept
South San Francisco-based Catalyst Biosciences, which has kept a low profile in recent years, has jumped back into the spotlight with a reverse merger with Targacept, the beleaguered North Carolina biotech that suffered a long string of embarrassing failures in the clinic.
Fifth Circuit backs shield against branded pharma's liability for generic harms
The court fight over Pfizer's stomach drug Reglan (metoclopramide) has yielded another ruling in Big Pharma's favor. Once again, a U.S. court has ruled that branded drugmakers can't be sued for damages allegedly caused by generic versions of their drugs.
Pfizer's megamerger pitch undermined by empty promises of the past
Back in early 2009, when Pfizer pulled off its big merger with Wyeth, the pharma giant boasted that the combined company "will have more resources to invest in research and development than any other biopharmaceutical company." Combined, they easily outspent every other Big Pharma research operation around the world. And the company touted its new prospects with the Alzheimer's R&D; group at Wyeth, including the Phase III program for bapineuzumab.
UPDATED: Pfizer's post-megamerger cost-cutting record? 51,500 jobs in 7 years
In the calm after yesterday's Pfizer-AstraZeneca deal storm, it's time to survey the potential fallout. Pfizer's aggressive strategy for avoiding taxes, totted up by The Wall Street Journal, politely thumped by the Financial Times and skewered by In the Pipeline. Fears for the U.K. science community, articulated by any number of U.K. newspapers.
Pfizer weighs legal options as PA Supreme Court revives Redux design-defect suit
Pennsylvania's high court put drug design-defect claims on the menu for patients looking to sue for damages. In a closely watched case against Pfizer's Wyeth unit, the state Supreme Court reinstated claims that the company negligently designed and marketed a diet pill, Redux, that's now withdrawn from the market.
UPDATED: SAC fund manager alleged to have not 1 but 2 docs feeding him insider info
A so-called superseding federal indictment today says former hedge fund trader Mathew Martoma, accused of insider trading in Elan and Wyeth stock, had not one but two doctors giving him the inside scoop that allowed his hedge fund to record more than $275 million in profits and losses avoided.
UPDATED: Mystery doc cited for handing insider trial info to SAC trader
Last fall noted neurologist and Alzheimer's investigator Sid Gilman figured prominently in a massive insider trading case brought by the SEC. Today a second, unnamed physician surfaced in a related indictment.