According to the Justice Department, Wyeth trained sales reps to push Rapamune for unapproved uses and offered bonuses to persuade them to flog the drug for patients it wasn't cleared to treat.
Pfizer dropped a bombshell yesterday, saying it would reorganize into three distinct business units, each with its own group president and financial reports. The thinking, of course, is that the company has a breakup in mind. And who wouldn't like to talk about that?
Pfizer is doing some reorganization--the company said Monday that it would split its operations into three distinct units, two focused on "innovative" drugs and a third including so-called "value" business.
Pfizer has closed up some plants in Ireland, and the $130 million it will plow into two plants there will not produce any new jobs. But a top exec for the company says Ireland is still important to Pfizer's manufacturing plans, and he envisions growth there over time.
Pfizer CEO Ian Read wasn't kidding when he said he'd consider a wholesale split-up of the world's biggest drugmaker. The company said today it would carve its operations into three units, two focused on "innovative" drugs and a third comprising what Read calls Pfizer's "value" business.
Pfizer has agreed to sell 260 million doses of its pneumococcal vaccine Prevnar 13 at a small fraction of their usual price.
Harbour Antibodies has added to a list of pharma partners for its transgenic mouse technology for producing human antibodies. Pfizer has licensed the company's mice for research of monoclonal antibody drugs, without restrictions on the therapeutic areas the pharma giant can pursue. Financial terms weren't disclosed.
After Amgen pulled the trigger on the bid for Onyx Pharmaceuticals, AstraZeneca, Novartis and Pfizer also are reportedly vying for chance to scoop up the company in an acquisition, according to Bloomberg.
AstraZeneca, Novartis and Pfizer are still in the hunt for Onyx Pharmaceuticals, Bloomberg 's sources say. And Amgen, which triggered the whole bidding process with an unsolicited offer last month, hasn't given up either.
It has been a week of conciliation among some of the Big Pharma players, with Pfizer settling more Chantix litigation, Merck closing out some Vioxx lawsuits and Johnson & Johnson coming to terms with shareholders angered over its handling of Tylenol recalls.