Pfizer Reports $491M Deal With DOJ Over Rapamune Marketing
Law360, New York (November 2, 2012, 11:10 PM EDT) -- Pfizer Inc. revealed Thursday that it has agreed to pay $491 million to settle a U.S. Department of Justice investigation into the marketing by Pfizer unit Wyeth Pharmaceuticals Inc. of kidney transplant drug Rapamune.
Pfizer said in its third-quarter earnings report that it had reached an agreement in principle with the federal government over Wyeth's marketing of the drug, which had come under fire for alleged promotions of the drug for unapproved, non-kidney organ transplant operations.
Pfizer spokesman Chris Loder confirmed the settlement and said that under the agreement, Pfizer will plead guilty to a misdemeanor misbranding offense under the U.S...
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