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Pfizer: Difference between revisions
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=== 1849–1950: Early history === | === 1849–1950: Early history === | ||
Pfizer was founded in 1849 as "Charles Pfizer & Company" by [[Charles Pfizer]] and [[Charles F. Erhart]],<ref>{{Cite book |url=http://archive.org/details/internationaldir0178unse |title=International Directory of Company Histories |date=2016 |publisher=St. James Press |isbn=978-1-4103-9198-8 |volume=178 |pages=362–373 |chapter=Pfizer Inc.}}</ref> two cousins who had immigrated to the United States from [[Ludwigsburg|Ludwigsburg, Germany]]. The business produced chemical compounds, and was headquartered on Bartlett Street<ref name="Citycyclopedia">Kenneth T. Jackson. ''The Encyclopedia of New York City''. The New York Historical Society; Yale University Press; September 1995. P. 895. {{ISBN|978-0-300-05536-8}}</ref> in [[Williamsburg, Brooklyn|Williamsburgh, New York]] where they produced an [[antiparasitic]] called [[santonin]]. This was an immediate success, although it was production of [[citric acid]] that led to Pfizer's growth in the 1880s. Pfizer continued to buy property in the area (by now the Williamsburg district of the city of [[Brooklyn, New York]] and beginning in 1898, the [[City of Greater New York]]) to expand its lab and factory, retaining offices on Flushing Avenue until the 1960s; the Brooklyn plant ultimately closed in 2009.<ref>{{Cite news |url=https://www.nytimes.com/2007/01/28/nyregion/28pfizer.html |title=Pfizer's Birthplace, Soon Without Pfizer |work= | Pfizer was founded in 1849 as "Charles Pfizer & Company" by [[Charles Pfizer]] and [[Charles F. Erhart]],<ref>{{Cite book |url=http://archive.org/details/internationaldir0178unse |title=International Directory of Company Histories |date=2016 |publisher=St. James Press |isbn=978-1-4103-9198-8 |volume=178 |pages=362–373 |chapter=Pfizer Inc.}}</ref> two cousins who had immigrated to the United States from [[Ludwigsburg|Ludwigsburg, Germany]]. The business produced chemical compounds, and was headquartered on Bartlett Street<ref name="Citycyclopedia">Kenneth T. Jackson. ''The Encyclopedia of New York City''. The New York Historical Society; Yale University Press; September 1995. P. 895. {{ISBN|978-0-300-05536-8}}</ref> in [[Williamsburg, Brooklyn|Williamsburgh, New York]] where they produced an [[antiparasitic]] called [[santonin]]. This was an immediate success, although it was production of [[citric acid]] that led to Pfizer's growth in the 1880s. Pfizer continued to buy property in the area (by now the Williamsburg district of the city of [[Brooklyn, New York]] and beginning in 1898, the [[City of Greater New York]]) to expand its lab and factory, retaining offices on Flushing Avenue until the 1960s; the Brooklyn plant ultimately closed in 2009.<ref>{{Cite news |url=https://www.nytimes.com/2007/01/28/nyregion/28pfizer.html |title=Pfizer's Birthplace, Soon Without Pfizer |work=The New York Times |date=January 28, 2007}}</ref> Following their success with citric acid, Pfizer (at the now-demolished 295 Washington Avenue) and Erhart (at 280 Washington Avenue) established their main residences in the nearby [[Clinton Hill, Brooklyn|Clinton Hill]] district, known for its concentration of [[Gilded Age]] wealth.{{cn|date=November 2024}} | ||
In 1881, Pfizer moved its administrative headquarters to 81 Maiden Lane in [[Manhattan]], presaging the company's expansion to [[Chicago, Illinois]] a year later.<ref name="Citycyclopedia" /><ref name=collection/> By 1906 sales exceeded $3{{nbsp}}million.<ref name=history>{{Cite web |title=Company Timeline: a Legacy of Innovation |url=https://www.pfizer.com/about/history |url-status=live |website=Pfizer |archive-url=https://web.archive.org/web/20220408162711/https://www.pfizer.com/about/history |archive-date=2022-04-08 |access-date=2022-05-16}}</ref> | In 1881, Pfizer moved its administrative headquarters to 81 Maiden Lane in [[Manhattan]], presaging the company's expansion to [[Chicago, Illinois]] a year later.<ref name="Citycyclopedia" /><ref name=collection/> By 1906 sales exceeded $3{{nbsp}}million.<ref name=history>{{Cite web |title=Company Timeline: a Legacy of Innovation |url=https://www.pfizer.com/about/history |url-status=live |website=Pfizer |archive-url=https://web.archive.org/web/20220408162711/https://www.pfizer.com/about/history |archive-date=2022-04-08 |access-date=2022-05-16}}</ref> | ||
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=== 2000–2010: Further expansion === | === 2000–2010: Further expansion === | ||
In 2001, [[Henry McKinnell]] became [[chief executive officer]] of the company, replacing [[William C. Steere, Jr.]]<ref name="longshot">{{Cite news |url=https://www.nytimes.com/2006/07/29/business/29pfizer.html |title=A Long Shot Becomes Pfizer's Latest Chief Executive |first=Alex |last=Berenson |authorlink=Alex Berenson |work= | In 2001, [[Henry McKinnell]] became [[chief executive officer]] of the company, replacing [[William C. Steere, Jr.]]<ref name="longshot">{{Cite news |url=https://www.nytimes.com/2006/07/29/business/29pfizer.html |title=A Long Shot Becomes Pfizer's Latest Chief Executive |first=Alex |last=Berenson |authorlink=Alex Berenson |work=The New York Times |date=July 29, 2006 |url-access=limited}}</ref> | ||
In 2002, The [[Bill & Melinda Gates Foundation]] purchased stock in Pfizer.<ref>{{Cite news |last1=Bank |first1=David |last2=Buckman |first2=Rebecca |date=2002-05-17 |title=Gates Foundation Buys Stakes in Drug Makers |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/SB1021577629748680000 |access-date=2022-06-14 |issn=0099-9660}}</ref> | In 2002, The [[Bill & Melinda Gates Foundation]] purchased stock in Pfizer.<ref>{{Cite news |last1=Bank |first1=David |last2=Buckman |first2=Rebecca |date=2002-05-17 |title=Gates Foundation Buys Stakes in Drug Makers |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/SB1021577629748680000 |access-date=2022-06-14 |issn=0099-9660}}</ref> | ||
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In July 2006, [[Jeff Kindler]] was named [[chief executive officer]] of the company, replacing [[Henry McKinnell]].<ref name="longshot" /><ref>{{Cite news |date=July 28, 2006 |title=Pfizer names new CEO |work=CNN |url=https://money.cnn.com/2006/07/28/news/companies/pfizer_ceo/index.htm}}</ref> | In July 2006, [[Jeff Kindler]] was named [[chief executive officer]] of the company, replacing [[Henry McKinnell]].<ref name="longshot" /><ref>{{Cite news |date=July 28, 2006 |title=Pfizer names new CEO |work=CNN |url=https://money.cnn.com/2006/07/28/news/companies/pfizer_ceo/index.htm}}</ref> | ||
On December 3, 2006, Pfizer ceased development of [[torcetrapib]], a drug that increases production of [[high density lipoprotein|HDL]], which reduces [[low density lipoprotein|LDL]] thought to be correlated to heart disease. During a [[Phase III clinical trial]] involving 15,000 patients, more deaths than expected occurred in the group that took the medicine, and the [[mortality rate]] of patients taking the combination of torcetrapib and Lipitor (82 deaths during the study) was 60% higher than those taking Lipitor alone (52 deaths during the study). Lipitor alone was not implicated in the results, but Pfizer lost nearly $1{{nbsp}}billion developing the failed drug and its stock price dropped 11% on the day of the announcement.<ref>{{Cite news |last1=Berenson |first1=Alex |last2=Pollack |first2=Andrew |date=December 5, 2006 |title=Pfizer Shares Plummet on Loss of a Promising Heart Drug |work= | On December 3, 2006, Pfizer ceased development of [[torcetrapib]], a drug that increases production of [[high density lipoprotein|HDL]], which reduces [[low density lipoprotein|LDL]] thought to be correlated to heart disease. During a [[Phase III clinical trial]] involving 15,000 patients, more deaths than expected occurred in the group that took the medicine, and the [[mortality rate]] of patients taking the combination of torcetrapib and Lipitor (82 deaths during the study) was 60% higher than those taking Lipitor alone (52 deaths during the study). Lipitor alone was not implicated in the results, but Pfizer lost nearly $1{{nbsp}}billion developing the failed drug and its stock price dropped 11% on the day of the announcement.<ref>{{Cite news |last1=Berenson |first1=Alex |last2=Pollack |first2=Andrew |date=December 5, 2006 |title=Pfizer Shares Plummet on Loss of a Promising Heart Drug |work=The New York Times |url=https://www.nytimes.com/2006/12/05/health/05pfizer.html |url-access=limited}}</ref><ref>{{Cite news |last=Berenson |first=Alex |date=December 3, 2006 |title=Pfizer Ends Studies on Drug for Heart Disease |work=The New York Times |url=https://www.nytimes.com/2006/12/03/health/03pfizer.html |url-access=limited |authorlink=Alex Berenson}}</ref><ref>{{Cite news |last=Agovino |first=Theresa |date=December 3, 2006 |title=Pfizer ends cholesterol drug development |publisher=[[The Seattle Times]] |agency=[[Associated Press]] |url=https://www.seattletimes.com/nation-world/cholesterol-drug-trials-are-halted/}}</ref><ref>{{cite journal |last1=Tanne |first1=Janice Hopkins |title=Pfizer stops clinical trials of heart drug |journal=BMJ |date=16 December 2006 |volume=333 |issue=7581 |pages=1237.2–1237 |doi=10.1136/bmj.39059.438044.DB |pmid=17170401 |pmc=1702474}}</ref> | ||
Between 2007 and 2010, Pfizer spent $3.3{{nbsp}}million on investigations and legal fees and recovered about $5.1{{nbsp}}million, and had another $5{{nbsp}}million of pending recoveries from civil lawsuits against makers of [[counterfeit]] prescription drugs. Pfizer has hired customs and narcotics experts worldwide to track down fakes and assemble evidence that can be used to pursue civil suits for [[trademark infringement]].<ref>{{Cite news |last=Bennett |first=Simeon |date=July 8, 2010 |title=Pfizer: Civil Suits for Drug Counterfeiters |work=[[Bloomberg Businessweek]] |url=https://www.bloomberg.com/news/articles/2010-07-08/pfizer-civil-suits-for-drug-counterfeiters |url-access=limited}}</ref> | Between 2007 and 2010, Pfizer spent $3.3{{nbsp}}million on investigations and legal fees and recovered about $5.1{{nbsp}}million, and had another $5{{nbsp}}million of pending recoveries from civil lawsuits against makers of [[counterfeit]] prescription drugs. Pfizer has hired customs and narcotics experts worldwide to track down fakes and assemble evidence that can be used to pursue civil suits for [[trademark infringement]].<ref>{{Cite news |last=Bennett |first=Simeon |date=July 8, 2010 |title=Pfizer: Civil Suits for Drug Counterfeiters |work=[[Bloomberg Businessweek]] |url=https://www.bloomberg.com/news/articles/2010-07-08/pfizer-civil-suits-for-drug-counterfeiters |url-access=limited}}</ref> | ||
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In October 2006, the company announced it would acquire PowerMed.<ref>{{Cite news |last=Barriaux |first=Marianne |date=October 9, 2006 |title=Pfizer buys vaccine developer PowderMed |work=[[The Guardian]] |url=https://www.theguardian.com/business/2006/oct/09/money5}}</ref> | In October 2006, the company announced it would acquire PowerMed.<ref>{{Cite news |last=Barriaux |first=Marianne |date=October 9, 2006 |title=Pfizer buys vaccine developer PowderMed |work=[[The Guardian]] |url=https://www.theguardian.com/business/2006/oct/09/money5}}</ref> | ||
On October 15, 2009, Pfizer acquired [[Wyeth]] for $68{{nbsp}}billion in cash and stock, including the assumption of debt, making Pfizer the largest pharmaceutical company in the world.<ref>{{Cite news |last1=Sorkin |first1=Andrew Ross |last2=Wilson |first2=Duff |date=January 25, 2009 |title=Pfizer Agrees to Pay $68 Billion for Rival Drug Maker Wyeth |work= | On October 15, 2009, Pfizer acquired [[Wyeth]] for $68{{nbsp}}billion in cash and stock, including the assumption of debt, making Pfizer the largest pharmaceutical company in the world.<ref>{{Cite news |last1=Sorkin |first1=Andrew Ross |last2=Wilson |first2=Duff |date=January 25, 2009 |title=Pfizer Agrees to Pay $68 Billion for Rival Drug Maker Wyeth |work=The New York Times |url=https://www.nytimes.com/2009/01/26/business/26drug.html |url-access=limited |issn=0362-4331 |authorlink1=Andrew Ross Sorkin |authorlink2=Duff Wilson}}</ref><ref>{{Cite news |date=October 15, 2009 |title=Pfizer completes $67 billion deal for rival Wyeth |work=[[Reuters]] |url=https://www.reuters.com/article/instant-article/idUSTRE59E4S320091015}}</ref><ref>{{cite news |last1=Karnitschnig |first1=Matthew |last2=Rockoff |first2=Jonathan D. |date=January 23, 2009 |title=Pfizer in Talks to Buy Wyeth |work=[[The Wall Street Journal]] |url=https://www.wsj.com/articles/SB123268511212809429 |url-access=subscription}}</ref><ref name="worst">{{Cite news |last=Edwards |first=Jim |date=January 23, 2009 |title=The Pfizer–Wyeth Deal Worst-Case Scenario |work=[[CBS News]] |url=https://www.cbsnews.com/news/the-pfizer-wyeth-deal-worst-case-scenario/}}</ref><ref name="wyethpr">{{Cite press release |title=PFIZER COMPLETES ACQUISITION OF WYETH |url=https://www.pfizer.com/news/press-release/press-release-detail/pfizer_completes_acquisition_of_wyeth |publisher=Pfizer |date=October 14, 2009}}</ref> The acquisition of Wyeth provided Pfizer with a [[pneumococcal conjugate vaccine]], trademarked [[Pneumococcal conjugate vaccine#Prevnar|Prevnar 13]]; this is used for the prevention of invasive pneumococcal infections. The introduction of the original, 7-valent version of the vaccine, developed by [[Wyeth]] in February 2000, led to a 75% reduction in the incidence of invasive pneumococcal infections among children under age{{nbsp}}5 in the United States. Pfizer introduced an improved version of the vaccine in 2010, for which it was granted a patent in India in 2017. Prevnar 13 provides coverage of 13 bacterial variants, expanding beyond the original 7-valent version.<ref name="wyethpr" /> By 2012, the rate of invasive infections among children under age{{spaces}}5 had been reduced by an additional 50%.<ref name="cdc.gov">{{Cite web |date=April 5, 2019 |title=CDC – ABCs: Surveillance Reports main page – Active Bacterial Core surveillance |url=https://www.cdc.gov/abcs/reports-findings/surv-reports.html}}</ref><ref>{{Cite web |last=Herper |first=Matthew |date=August 24, 2020 |title=In the race for a Covid-19 vaccine, Pfizer turns to a scientist with a history of defying skeptics – and getting results |url=https://www.statnews.com/2020/08/24/pfizer-edge-in-the-race-for-a-covid-19-vaccine-could-be-a-scientist-with-two-best-sellers-to-her-credit/ |website=[[Stat (website)|Stat]]}}</ref> | ||
=== 2010–2020: Further discoveries and acquisitions === | === 2010–2020: Further discoveries and acquisitions === | ||
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On September 4, 2012, the FDA approved [[bosutinib]] (Bosulif) for [[chronic myelogenous leukemia]] (CML), a rare type of [[leukemia]] and a blood and [[bone marrow]] disease that affects primarily older adults.<ref>{{Cite news |url=https://www.reuters.com/article/us-pfizer-leukemia/fda-approves-pfizer-leukemia-drug-idUSBRE88314720120904 |title=FDA approves Pfizer leukemia drug |first=Anna |last=Yukhananov |work=[[Reuters]] |date=September 4, 2012}}</ref> In November 2012, Pfizer received approval from the [[Food and Drug Administration]] for Xeljanz, a [[tofacitinib]], for [[rheumatoid arthritis]] and [[ulcerative colitis]].<ref>{{Cite web |url=https://www.accessdata.fda.gov/drugsatfda_docs/nda/2012/203214orig1s000toc.cfm |title=Drug Approval Package |publisher=[[Food and Drug Administration]]}}</ref> The drug had sales of $1.77{{nbsp}}billion in 2018, and in January 2019, it was the top drug in the United States for [[direct-to-consumer advertising]], passing [[adalimumab]] (Humira).<ref>{{Cite magazine |title=Pfizer switches RA patients to lower dose of fast-growing Xeljanz as safety issues arise in postmarketing study |url=https://www.fiercepharma.com/pharma/postmarketing-study-pfizer-switches-ra-patients-to-lower-xeljanz-dose-safety-concerns |magazine=Fierce Pharma |first=Eric |last=Sagonowsky |date=February 20, 2019}}</ref> | On September 4, 2012, the FDA approved [[bosutinib]] (Bosulif) for [[chronic myelogenous leukemia]] (CML), a rare type of [[leukemia]] and a blood and [[bone marrow]] disease that affects primarily older adults.<ref>{{Cite news |url=https://www.reuters.com/article/us-pfizer-leukemia/fda-approves-pfizer-leukemia-drug-idUSBRE88314720120904 |title=FDA approves Pfizer leukemia drug |first=Anna |last=Yukhananov |work=[[Reuters]] |date=September 4, 2012}}</ref> In November 2012, Pfizer received approval from the [[Food and Drug Administration]] for Xeljanz, a [[tofacitinib]], for [[rheumatoid arthritis]] and [[ulcerative colitis]].<ref>{{Cite web |url=https://www.accessdata.fda.gov/drugsatfda_docs/nda/2012/203214orig1s000toc.cfm |title=Drug Approval Package |publisher=[[Food and Drug Administration]]}}</ref> The drug had sales of $1.77{{nbsp}}billion in 2018, and in January 2019, it was the top drug in the United States for [[direct-to-consumer advertising]], passing [[adalimumab]] (Humira).<ref>{{Cite magazine |title=Pfizer switches RA patients to lower dose of fast-growing Xeljanz as safety issues arise in postmarketing study |url=https://www.fiercepharma.com/pharma/postmarketing-study-pfizer-switches-ra-patients-to-lower-xeljanz-dose-safety-concerns |magazine=Fierce Pharma |first=Eric |last=Sagonowsky |date=February 20, 2019}}</ref> | ||
On February 1, 2013, [[Zoetis]], the Agriculture Division of Pfizer and later Pfizer Animal Health, became a [[public company]] via an [[initial public offering]], raising $2.2{{nbsp}}billion.<ref>{{Cite press release |title=Zoetis™ Files IPO Registration Statement |url=https://www.zoetisus.com/news-and-media/zoetis-files-ipo-registration-statement.aspx |publisher=[[Business Wire]] |date=August 13, 2012}}</ref><ref>{{Cite news |url=https://dealbook.nytimes.com/2013/02/01/shares-of-zoetis-surge-on-debut/ |last=J. de la Merced |first=Michael |title=Shares of Zoetis Surge on Debut |work= | On February 1, 2013, [[Zoetis]], the Agriculture Division of Pfizer and later Pfizer Animal Health, became a [[public company]] via an [[initial public offering]], raising $2.2{{nbsp}}billion.<ref>{{Cite press release |title=Zoetis™ Files IPO Registration Statement |url=https://www.zoetisus.com/news-and-media/zoetis-files-ipo-registration-statement.aspx |publisher=[[Business Wire]] |date=August 13, 2012}}</ref><ref>{{Cite news |url=https://dealbook.nytimes.com/2013/02/01/shares-of-zoetis-surge-on-debut/ |last=J. de la Merced |first=Michael |title=Shares of Zoetis Surge on Debut |work=The New York Times |date=February 1, 2013 |url-access=limited}}</ref><ref>{{Cite news |title=Zoetis Raises $2.2 Billion in IPO |url=https://www.wsj.com/articles/SB10001424127887323701904578276530830057770 |last=Dieterich |first=Chris |work=[[The Wall Street Journal]] |date=January 31, 2013 |url-access=subscription}}</ref><ref>{{Cite news |url=https://www.cbsnews.com/news/shares-of-animal-health-company-zoetis-soar-in-ipo/ |title=Shares of animal health company Zoetis soar in IPO |agency=[[Associated Press]] |publisher=[[CBS News]] |date=February 1, 2013}}</ref> Later in 2013, Pfizer completed the [[corporate spin-off]] of its remaining stake in [[Zoetis]].<ref>{{Cite news |url=https://www.wsj.com/articles/SB10001424127887323975004578498994013821124 |title=Pfizer to Spin Off Remaining Zoetis Stake |first=Peter |last=Loftus |work=[[The Wall Street Journal]] |date=May 22, 2013}}</ref><ref>{{Cite news |url=https://www.reuters.com/article/us-pfizer-zoetis/pfizer-to-spin-off-zoetis-stake-to-shareholders-idUSBRE94L0JB20130522 |title=Pfizer to spin off Zoetis stake to shareholders |first1=Caroline |last1=Humer |first2=Ransdell |last2=Pierson |work=[[Reuters]] |date=May 22, 2013}}</ref> | ||
In September 2014, the company acquired Innopharma for $225{{nbsp}}million, plus up to $135{{nbsp}}million in milestone payments, in a deal that expanded Pfizer's range of generic and injectable drugs.<ref>{{Cite magazine |url=https://www.fiercepharma.com/pharma/pfizer-completes-acquisition-of-innopharma |title=Pfizer Completes Acquisition Of InnoPharma |first=Emily |last=Wasserman |magazine=Fierce Pharma |date=September 29, 2014}}</ref><ref>{{Cite news |title=Pfizer to Acquire InnoPharma for Up to $360M |url=https://www.genengnews.com/news/pfizer-to-acquire-innopharma-for-up-to-360m/ |website=genengnews.com |date=July 16, 2014}}</ref> | In September 2014, the company acquired Innopharma for $225{{nbsp}}million, plus up to $135{{nbsp}}million in milestone payments, in a deal that expanded Pfizer's range of generic and injectable drugs.<ref>{{Cite magazine |url=https://www.fiercepharma.com/pharma/pfizer-completes-acquisition-of-innopharma |title=Pfizer Completes Acquisition Of InnoPharma |first=Emily |last=Wasserman |magazine=Fierce Pharma |date=September 29, 2014}}</ref><ref>{{Cite news |title=Pfizer to Acquire InnoPharma for Up to $360M |url=https://www.genengnews.com/news/pfizer-to-acquire-innopharma-for-up-to-360m/ |website=genengnews.com |date=July 16, 2014}}</ref> | ||
On January 5, 2015, the company announced it would acquire a controlling interest in Redvax, expanding its vaccine portfolio targeting human [[cytomegalovirus]].<ref>{{Cite news |title=Pfizer Buys Redvax, Boosting Vaccine Portfolio |url=https://www.genengnews.com/topics/drug-discovery/pfizer-buys-redvax-boosting-vaccine-portfolio/ |website=genengnews.com |date=January 5, 2015}}</ref> In February 2015, the company received approval from the [[Food and Drug Administration]] for [[palbociclib]] (Ibrance) for treatment of certain types of [[breast cancer]].<ref>{{cite journal |last1=Beaver |first1=Julia A. |last2=Amiri-Kordestani |first2=Laleh |last3=Charlab |first3=Rosane |last4=Chen |first4=Wei |last5=Palmby |first5=Todd |last6=Tilley |first6=Amy |last7=Zirkelbach |first7=Jeanne Fourie |last8=Yu |first8=Jingyu |last9=Liu |first9=Qi |last10=Zhao |first10=Liang |last11=Crich |first11=Joyce |last12=Chen |first12=Xiao Hong |last13=Hughes |first13=Minerva |last14=Bloomquist |first14=Erik |last15=Tang |first15=Shenghui |last16=Sridhara |first16=Rajeshwari |last17=Kluetz |first17=Paul G. |last18=Kim |first18=Geoffrey |last19=Ibrahim |first19=Amna |last20=Pazdur |first20=Richard |last21=Cortazar |first21=Patricia |title=FDA Approval: Palbociclib for the Treatment of Postmenopausal Patients with Estrogen Receptor–Positive, HER2-Negative Metastatic Breast Cancer |journal=Clinical Cancer Research |date=1 November 2015 |volume=21 |issue=21 |pages=4760–4766 |doi=10.1158/1078-0432.CCR-15-1185 |pmid=26324739 |s2cid=24762535 |doi-access=free}}</ref><ref>{{Cite web |url=https://www.fda.gov/drugs/resources-information-approved-drugs/palbociclib-ibrance |title=Palbociclib (IBRANCE) |date=February 9, 2019 |publisher=[[Food and Drug Administration]]}}</ref> In March 2015, the company announced it would restart its collaboration with [[Eli Lilly and Company]] surrounding the [[Phase III trial]] of [[Tanezumab]].<ref>{{Cite news |title=Pfizer, Lilly to Resume Phase III Tanezumab Clinical Program |url=https://www.genengnews.com/topics/drug-discovery/pfizer-lilly-to-resume-phase-iii-tanezumab-clinical-program/ |website=genengnews.com |date=March 23, 2015}}</ref> In May 2015, Pfizer and a [[Bar-Ilan University]] laboratory announced a partnership based on the development of medical [[DNA nanotechnology]].<ref>{{Cite news |last=Gali |first=Weinreb |title=Pfizer to collaborate on Bar-Ilan DNA robots |work=[[Globes (newspaper)|Globes]] |url=https://en.globes.co.il/en/article-pfizer-to-collaborate-on-bar-ilan-dna-robots-1001036703 |date=May 14, 2015}}</ref> In June 2015, the company acquired Nimenrix and Mencevax, [[meningococcal vaccine]]s, from GlaxoSmithKline for around $130{{nbsp}}million.<ref>{{Cite news |title=Pfizer Buys Two GSK Meningitis Vaccines for $130M |url=https://www.genengnews.com/topics/drug-discovery/pfizer-buys-two-gsk-meningitis-vaccines-for-130m/ |website=genengnews.com |date=June 22, 2015}}</ref> In September 2015, Pfizer acquired [[Hospira]] for $17{{nbsp}}billion, including the assumption of debt.<ref>{{Cite press release |url=https://www.businesswire.com/news/home/20150903005752/en/Pfizer-Completes-Acquisition-of-Hospira |title=Pfizer Completes Acquisition of Hospira |publisher=Pfizer |via=[[Business Wire]] |date=September 3, 2015}}</ref><ref>{{Cite news |url=https://www.thepharmaletter.com/article/pfizer-completes-17-billion-hospira-acquisition |title=Pfizer completes $17-billion Hospira acquisition |work=[[The Pharma Letter]] |date=September 4, 2015}}</ref><ref>{{Cite news |first1=David |last1=Gelles |first2=Katie |last2=Thomas |title=Pfizer Bets $15 Billion on New Class of Generic Drugs |url=https://dealbook.nytimes.com/2015/02/05/pfizer-to-buy-hospira-a-drug-maker-for-15-2-billion-in-cash |work= | On January 5, 2015, the company announced it would acquire a controlling interest in Redvax, expanding its vaccine portfolio targeting human [[cytomegalovirus]].<ref>{{Cite news |title=Pfizer Buys Redvax, Boosting Vaccine Portfolio |url=https://www.genengnews.com/topics/drug-discovery/pfizer-buys-redvax-boosting-vaccine-portfolio/ |website=genengnews.com |date=January 5, 2015}}</ref> In February 2015, the company received approval from the [[Food and Drug Administration]] for [[palbociclib]] (Ibrance) for treatment of certain types of [[breast cancer]].<ref>{{cite journal |last1=Beaver |first1=Julia A. |last2=Amiri-Kordestani |first2=Laleh |last3=Charlab |first3=Rosane |last4=Chen |first4=Wei |last5=Palmby |first5=Todd |last6=Tilley |first6=Amy |last7=Zirkelbach |first7=Jeanne Fourie |last8=Yu |first8=Jingyu |last9=Liu |first9=Qi |last10=Zhao |first10=Liang |last11=Crich |first11=Joyce |last12=Chen |first12=Xiao Hong |last13=Hughes |first13=Minerva |last14=Bloomquist |first14=Erik |last15=Tang |first15=Shenghui |last16=Sridhara |first16=Rajeshwari |last17=Kluetz |first17=Paul G. |last18=Kim |first18=Geoffrey |last19=Ibrahim |first19=Amna |last20=Pazdur |first20=Richard |last21=Cortazar |first21=Patricia |title=FDA Approval: Palbociclib for the Treatment of Postmenopausal Patients with Estrogen Receptor–Positive, HER2-Negative Metastatic Breast Cancer |journal=Clinical Cancer Research |date=1 November 2015 |volume=21 |issue=21 |pages=4760–4766 |doi=10.1158/1078-0432.CCR-15-1185 |pmid=26324739 |s2cid=24762535 |doi-access=free}}</ref><ref>{{Cite web |url=https://www.fda.gov/drugs/resources-information-approved-drugs/palbociclib-ibrance |title=Palbociclib (IBRANCE) |date=February 9, 2019 |publisher=[[Food and Drug Administration]]}}</ref> In March 2015, the company announced it would restart its collaboration with [[Eli Lilly and Company]] surrounding the [[Phase III trial]] of [[Tanezumab]].<ref>{{Cite news |title=Pfizer, Lilly to Resume Phase III Tanezumab Clinical Program |url=https://www.genengnews.com/topics/drug-discovery/pfizer-lilly-to-resume-phase-iii-tanezumab-clinical-program/ |website=genengnews.com |date=March 23, 2015}}</ref> In May 2015, Pfizer and a [[Bar-Ilan University]] laboratory announced a partnership based on the development of medical [[DNA nanotechnology]].<ref>{{Cite news |last=Gali |first=Weinreb |title=Pfizer to collaborate on Bar-Ilan DNA robots |work=[[Globes (newspaper)|Globes]] |url=https://en.globes.co.il/en/article-pfizer-to-collaborate-on-bar-ilan-dna-robots-1001036703 |date=May 14, 2015}}</ref> In June 2015, the company acquired Nimenrix and Mencevax, [[meningococcal vaccine]]s, from GlaxoSmithKline for around $130{{nbsp}}million.<ref>{{Cite news |title=Pfizer Buys Two GSK Meningitis Vaccines for $130M |url=https://www.genengnews.com/topics/drug-discovery/pfizer-buys-two-gsk-meningitis-vaccines-for-130m/ |website=genengnews.com |date=June 22, 2015}}</ref> In September 2015, Pfizer acquired [[Hospira]] for $17{{nbsp}}billion, including the assumption of debt.<ref>{{Cite press release |url=https://www.businesswire.com/news/home/20150903005752/en/Pfizer-Completes-Acquisition-of-Hospira |title=Pfizer Completes Acquisition of Hospira |publisher=Pfizer |via=[[Business Wire]] |date=September 3, 2015}}</ref><ref>{{Cite news |url=https://www.thepharmaletter.com/article/pfizer-completes-17-billion-hospira-acquisition |title=Pfizer completes $17-billion Hospira acquisition |work=[[The Pharma Letter]] |date=September 4, 2015}}</ref><ref>{{Cite news |first1=David |last1=Gelles |first2=Katie |last2=Thomas |title=Pfizer Bets $15 Billion on New Class of Generic Drugs |url=https://dealbook.nytimes.com/2015/02/05/pfizer-to-buy-hospira-a-drug-maker-for-15-2-billion-in-cash |work=The New York Times |date=February 5, 2015 |url-access=limited}}</ref><ref>{{Cite web |title=8-K |url=https://www.sec.gov/Archives/edgar/data/78003/000119312515037588/d866443d8k.htm |publisher=[[U.S. Securities and Exchange Commission]] |date=February 6, 2015}}</ref><ref>{{Cite press release |title=Pfizer to Acquire Hospira |url=https://www.pfizer.com/news/press-release/press-release-detail/pfizer_to_acquire_hospira |work=Pfizer |access-date=May 1, 2021 |archive-date=April 26, 2021 |archive-url=https://web.archive.org/web/20210426025941/https://www.pfizer.com/news/press-release/press-release-detail/pfizer_to_acquire_hospira |url-status=dead }}</ref><ref>{{Cite news |last=Neilan |first=Catherine |title=Pfizer, Hospira share prices to soar after $17bn deal announced |url=https://www.cityam.com/pfizer-hospira-share-prices-soar-after-17bn-deal-announced/ |work=[[City A.M.]] |date=February 5, 2015}}</ref> [[Hospira]] was the largest producer of generic injectable pharmaceuticals in the world.<ref>{{Cite news |title=US-based Hospira to buy Orchid Chemicals' injectables biz for $400 mn |url=https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/us-based-hospira-to-buy-orchid-chemicals-injectables-biz-for-400-mn/articleshow/5342003.cms |first1=Mohit |last1=Bhalla |first2=Khomba |last2=Singh |work=[[The Economic Times]] |date=December 16, 2009}}</ref> On November 23, 2015, Pfizer and [[Allergan]] announced a planned $160{{nbsp}}billion merger, in the largest pharmaceutical deal ever and the third largest corporate merger in history. The proposed transaction contemplated that the merged company maintain Allergan's [[Republic of Ireland]] domicile, resulting in the new company being subject to [[corporation tax]] at the relatively low rate of 12.5%.<ref>{{Cite news |title=Pfizer seals $160bn Allergan deal to create drugs giant |url=https://www.bbc.co.uk/news/business-34900344 |work=[[BBC News]] |date=November 23, 2015}}</ref> The deal was to constitute a [[reverse merger]], whereby Allergan acquired Pfizer, with the new company then changing its name to "Pfizer, plc".<ref>{{Cite news |title=Pfizer to buy Allergan in $160 billion deal |url=https://www.reuters.com/article/us-allergan-m-a-pfizer/pfizer-to-buy-allergan-in-160-billion-deal-idUSKBN0TB0UT20151124 |first1=Ransdell |last1=Pierson |first2=Bill |last2=Berkrot |work=[[Reuters]] |date=November 24, 2015}}</ref><ref>{{Cite news |title=Pfizer to Acquire Allergan for $160B |url=https://www.genengnews.com/news/pfizer-to-acquire-allergan-for-160b/ |work=genengnews.com |date=November 23, 2015}}</ref><ref>{{Cite news |first=Cynthia |last=Koons |title=Pfizer and Allergan to Combine With Joint Value of $160 Billion |url=https://www.bloomberg.com/news/articles/2015-11-22/pfizer-allergan-said-to-be-close-to-150-billion-merger |work=[[Bloomberg News]] |date=November 22, 2015 |url-access=limited}}</ref> On April 6, 2016, Pfizer and Allergan terminated the merger agreement after the [[Obama administration]] and the [[United States Department of the Treasury]] introduced new laws intended to limit [[corporate inversion]]s (the extent to which companies could move their headquarters overseas in order to reduce the amount of taxes they pay).<ref>{{Cite news |last=Bray |first=Chad |title=Pfizer and Allergan Call Off Merger After Tax-Rule Changes |url=https://www.nytimes.com/2016/04/07/business/dealbook/pfizer-allergan-merger.html |work=The New York Times |date=April 6, 2016 |url-access=limited}}</ref><ref>{{Cite news |last1=Humer |first1=Caroline |last2=Banerjee |first2=Ankur |title=Pfizer, Allergan scrap $160 billion deal after U.S. tax rule change |work=[[Reuters]] |url=https://www.reuters.com/article/us-allergan-m-a-pfizer-idUSKCN0X3188 |date=April 6, 2016}}</ref> | ||
In June 2016, the company acquired Anacor Pharmaceuticals for $5.2{{nbsp}}billion, expanding its portfolio in both inflammation and immunology drugs areas.<ref>{{cite press release |url=https://www.businesswire.com/news/home/20160624005299/en/Pfizer-Completes-Acquisition-of-Anacor |title=Pfizer Completes Acquisition of Anacor |publisher=Pfizer |via=[[Business Wire]] |date=June 24, 2016}}</ref><ref>{{Cite news |title=Pfizer to Acquire Anacor Pharmaceuticals for $5.2B |url=https://www.genengnews.com/news/pfizer-to-acquire-anacor-pharmaceuticals-for-5-2b/ |website=genengnews.com |date=May 16, 2016}}</ref> In August 2016, the company made a $40{{nbsp}}million bid for the assets of BIND Therapeutics, which was in [[bankruptcy]].<ref>{{Cite news |title=Pfizer Places High Bid of $40M for BIND Therapeutics |url=https://www.genengnews.com/news/pfizer-places-high-bid-of-40m-for-bind-therapeutics/ |website=genengnews.com |date=July 27, 2016}}</ref> The same month, the company acquired Bamboo Therapeutics for $645{{nbsp}}million, expanding its gene therapy offerings.<ref>{{Cite news |title=Pfizer Acquires Bamboo Therapeutics in a $645M Deal |url=https://www.genengnews.com/news/pfizer-acquires-bamboo-therapeutics-in-a-645m-deal/ |website=genengnews.com |date=August 1, 2016}}</ref> In September 2016, the company acquired cancer drug-maker [[Medivation]] for $14{{nbsp}}billion.<ref>{{Cite news |title=Pfizer to Acquire Medivation for $14B |url=https://www.genengnews.com/news/pfizer-to-acquire-medivation-for-14b/ |website=genengnews.com |date=August 22, 2016}}</ref><ref>{{Cite news |title=Pfizer to buy cancer drug firm Medivation for $14bn |work=[[BBC News]] |url=https://www.bbc.co.uk/news/business-37150531 |date=August 22, 2016}}</ref><ref>{{Cite press release |url=https://www.businesswire.com/news/home/20160928005824/en/ |title=Pfizer Completes Acquisition of Medivation |publisher=OncoImmune |via=[[Business Wire]] |date=September 28, 2016}}</ref> In October 2016, the company licensed the anti-[[CTLA4]] monoclonal antibody, ONC-392, from OncoImmune.<ref>{{Cite news |url=https://www.genengnews.com/topics/drug-discovery/oncoimmune-licenses-onc-392-to-pfizer-for-up-to-250m/ |title=OncoImmune Licenses ONC-392 to Pfizer for Up to $250M |work=genengnews.com |date=October 15, 2016}}</ref><ref>{{cite press release |url=https://www.businesswire.com/news/home/20160915005151/en/OncoImmune-Announces-Option-and-License-Agreement-with-Pfizer-Inc. |title=OncoImmune Announces Option and License Agreement with Pfizer Inc. |publisher=Pfizer |via=[[Business Wire]] |date=September 15, 2016}}</ref> In November 2016, Pfizer funded a $3,435,600 study with the [[CDC Foundation]] to research "screen-and-treat" strategies for [[cryptococcal disease]] in [[Botswana]].<ref name=":4">{{Cite web |date=2021-12-09 |title=CDC Foundation Active Programs October 1, 2020 – September 30, 2021 |url=https://www.cdcfoundation.org/CDCF-ActivePrograms-CDC-FY21?inline |url-status=live |archive-url=https://web.archive.org/web/20220115161004/https://www.cdcfoundation.org/CDCF-ActivePrograms-CDC-FY21?inline |archive-date=2022-01-15 |access-date=2022-08-06 |website=[[CDC Foundation]]}}</ref> In December 2016, Pfizer acquired [[AstraZeneca]]'s small-molecule antibiotics business for $1.575 billion.<ref>{{Cite press release |url=https://www.businesswire.com/news/home/20161222005395/en/Pfizer-Completes-Acquisition-of-Small-Molecule-Anti-Infective-Business-From-AstraZeneca |title=Pfizer Completes Acquisition of Small Molecule Anti-Infective Business From AstraZeneca |publisher=Pfizer |via=[[Business Wire]] |date=December 23, 2016}}</ref><ref>{{Cite news |title=Pfizer Buys AstraZeneca Antibiotics for Up to $1.575B |url=https://www.genengnews.com/topics/drug-discovery/pfizer-buys-astrazeneca-antibiotics-for-up-to-1-575b/ |website=genengnews.com |date=August 24, 2016}}</ref><ref>{{Cite magazine |title=Pfizer grabs AZ antibiotics in $1.5B deal. Pre-split prep or just another sales-boosting buy? |url=https://www.fiercepharma.com/pharma/pfizer-grabs-az-antibiotics-1-5b-deal-pre-split-prep-or-just-another-sales-boosting-buy |first=Tracy |last=Staton |magazine=Fierce Pharma |date=August 24, 2016}}</ref> | In June 2016, the company acquired Anacor Pharmaceuticals for $5.2{{nbsp}}billion, expanding its portfolio in both inflammation and immunology drugs areas.<ref>{{cite press release |url=https://www.businesswire.com/news/home/20160624005299/en/Pfizer-Completes-Acquisition-of-Anacor |title=Pfizer Completes Acquisition of Anacor |publisher=Pfizer |via=[[Business Wire]] |date=June 24, 2016}}</ref><ref>{{Cite news |title=Pfizer to Acquire Anacor Pharmaceuticals for $5.2B |url=https://www.genengnews.com/news/pfizer-to-acquire-anacor-pharmaceuticals-for-5-2b/ |website=genengnews.com |date=May 16, 2016}}</ref> In August 2016, the company made a $40{{nbsp}}million bid for the assets of BIND Therapeutics, which was in [[bankruptcy]].<ref>{{Cite news |title=Pfizer Places High Bid of $40M for BIND Therapeutics |url=https://www.genengnews.com/news/pfizer-places-high-bid-of-40m-for-bind-therapeutics/ |website=genengnews.com |date=July 27, 2016}}</ref> The same month, the company acquired Bamboo Therapeutics for $645{{nbsp}}million, expanding its gene therapy offerings.<ref>{{Cite news |title=Pfizer Acquires Bamboo Therapeutics in a $645M Deal |url=https://www.genengnews.com/news/pfizer-acquires-bamboo-therapeutics-in-a-645m-deal/ |website=genengnews.com |date=August 1, 2016}}</ref> In September 2016, the company acquired cancer drug-maker [[Medivation]] for $14{{nbsp}}billion.<ref>{{Cite news |title=Pfizer to Acquire Medivation for $14B |url=https://www.genengnews.com/news/pfizer-to-acquire-medivation-for-14b/ |website=genengnews.com |date=August 22, 2016}}</ref><ref>{{Cite news |title=Pfizer to buy cancer drug firm Medivation for $14bn |work=[[BBC News]] |url=https://www.bbc.co.uk/news/business-37150531 |date=August 22, 2016}}</ref><ref>{{Cite press release |url=https://www.businesswire.com/news/home/20160928005824/en/ |title=Pfizer Completes Acquisition of Medivation |publisher=OncoImmune |via=[[Business Wire]] |date=September 28, 2016}}</ref> In October 2016, the company licensed the anti-[[CTLA4]] monoclonal antibody, ONC-392, from OncoImmune.<ref>{{Cite news |url=https://www.genengnews.com/topics/drug-discovery/oncoimmune-licenses-onc-392-to-pfizer-for-up-to-250m/ |title=OncoImmune Licenses ONC-392 to Pfizer for Up to $250M |work=genengnews.com |date=October 15, 2016}}</ref><ref>{{cite press release |url=https://www.businesswire.com/news/home/20160915005151/en/OncoImmune-Announces-Option-and-License-Agreement-with-Pfizer-Inc. |title=OncoImmune Announces Option and License Agreement with Pfizer Inc. |publisher=Pfizer |via=[[Business Wire]] |date=September 15, 2016}}</ref> In November 2016, Pfizer funded a $3,435,600 study with the [[CDC Foundation]] to research "screen-and-treat" strategies for [[cryptococcal disease]] in [[Botswana]].<ref name=":4">{{Cite web |date=2021-12-09 |title=CDC Foundation Active Programs October 1, 2020 – September 30, 2021 |url=https://www.cdcfoundation.org/CDCF-ActivePrograms-CDC-FY21?inline |url-status=live |archive-url=https://web.archive.org/web/20220115161004/https://www.cdcfoundation.org/CDCF-ActivePrograms-CDC-FY21?inline |archive-date=2022-01-15 |access-date=2022-08-06 |website=[[CDC Foundation]]}}</ref> In December 2016, Pfizer acquired [[AstraZeneca]]'s small-molecule antibiotics business for $1.575 billion.<ref>{{Cite press release |url=https://www.businesswire.com/news/home/20161222005395/en/Pfizer-Completes-Acquisition-of-Small-Molecule-Anti-Infective-Business-From-AstraZeneca |title=Pfizer Completes Acquisition of Small Molecule Anti-Infective Business From AstraZeneca |publisher=Pfizer |via=[[Business Wire]] |date=December 23, 2016}}</ref><ref>{{Cite news |title=Pfizer Buys AstraZeneca Antibiotics for Up to $1.575B |url=https://www.genengnews.com/topics/drug-discovery/pfizer-buys-astrazeneca-antibiotics-for-up-to-1-575b/ |website=genengnews.com |date=August 24, 2016}}</ref><ref>{{Cite magazine |title=Pfizer grabs AZ antibiotics in $1.5B deal. Pre-split prep or just another sales-boosting buy? |url=https://www.fiercepharma.com/pharma/pfizer-grabs-az-antibiotics-1-5b-deal-pre-split-prep-or-just-another-sales-boosting-buy |first=Tracy |last=Staton |magazine=Fierce Pharma |date=August 24, 2016}}</ref> | ||
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====2009 Illegal marketing of Bextra settlement==== | ====2009 Illegal marketing of Bextra settlement==== | ||
In September 2009, Pfizer pleaded guilty to the illegal marketing of [[arthritis]] drug [[valdecoxib]] (Bextra) and agreed to a $2.3{{nbsp}}billion settlement, the largest [[health care fraud]] settlement at that time.<ref>{{cite web |title=Justice Department Announces Largest Health Care Fraud Settlement in Its History |url=https://www.justice.gov/opa/pr/justice-department-announces-largest-health-care-fraud-settlement-its-history |publisher=[[United States Department of Justice]] |access-date=2022-05-15 |archive-url=https://web.archive.org/web/20220512181155/https://www.justice.gov/opa/pr/justice-department-announces-largest-health-care-fraud-settlement-its-history |archive-date=May 12, 2022 |date=2009-09-09 |quote=American pharmaceutical giant Pfizer Inc. and its subsidiary Pharmacia & Upjohn Company Inc. (hereinafter together "Pfizer") have agreed to pay $2.3 billion, the largest health care fraud settlement in the history of the Department of Justice, to resolve criminal and civil liability arising from the illegal promotion of certain pharmaceutical products, the Justice Department announced today.}}</ref> Pfizer promoted the sale of the drug for several uses and dosages that the [[Food and Drug Administration]] specifically declined to approve due to safety concerns. The drug was pulled from the market in 2005.<ref>{{Cite news |url=https://www.nytimes.com/2009/09/03/business/03health.html |title=Pfizer pays $2.3 billion to settle marketing case |first=Gardiner |last=Harris |work= | In September 2009, Pfizer pleaded guilty to the illegal marketing of [[arthritis]] drug [[valdecoxib]] (Bextra) and agreed to a $2.3{{nbsp}}billion settlement, the largest [[health care fraud]] settlement at that time.<ref>{{cite web |title=Justice Department Announces Largest Health Care Fraud Settlement in Its History |url=https://www.justice.gov/opa/pr/justice-department-announces-largest-health-care-fraud-settlement-its-history |publisher=[[United States Department of Justice]] |access-date=2022-05-15 |archive-url=https://web.archive.org/web/20220512181155/https://www.justice.gov/opa/pr/justice-department-announces-largest-health-care-fraud-settlement-its-history |archive-date=May 12, 2022 |date=2009-09-09 |quote=American pharmaceutical giant Pfizer Inc. and its subsidiary Pharmacia & Upjohn Company Inc. (hereinafter together "Pfizer") have agreed to pay $2.3 billion, the largest health care fraud settlement in the history of the Department of Justice, to resolve criminal and civil liability arising from the illegal promotion of certain pharmaceutical products, the Justice Department announced today.}}</ref> Pfizer promoted the sale of the drug for several uses and dosages that the [[Food and Drug Administration]] specifically declined to approve due to safety concerns. The drug was pulled from the market in 2005.<ref>{{Cite news |url=https://www.nytimes.com/2009/09/03/business/03health.html |title=Pfizer pays $2.3 billion to settle marketing case |first=Gardiner |last=Harris |work=The New York Times |date=September 2, 2009 |url-access=limited}}</ref> It was Pfizer's fourth such settlement in a decade.<ref name=Settle/><ref name=Improper>{{Cite news |last=Johnson |first=Carrie |date=September 3, 2009 |title=In Settlement, A Warning To Drugmakers: Pfizer to Pay Record Penalty In Improper-Marketing Case |newspaper=[[The Washington Post]] |url=https://www.washingtonpost.com/wp-dyn/content/article/2009/09/02/AR2009090201449_pf.html}}</ref><ref name=fine/> The payment included $1.195{{nbsp}}billion in criminal penalties for felony violations of the [[Federal Food, Drug, and Cosmetic Act]], and $1.0{{nbsp}}billion to settle allegations it had illegally promoted the drugs for uses that were not approved by the [[Food and Drug Administration]] (FDA) leading to violations under the [[False Claims Act]] as reimbursements were requested from Federal and State programs. The criminal fine was the largest ever assessed in the United States to date.<ref name=Settle>{{Cite news |last=Harris |first=Gardiner |title=Pfizer Pays $2.3 billion to Settle Marketing Case |work=The New York Times |url=https://www.nytimes.com/2009/09/03/business/03health.html |date=September 3, 2009}}</ref><ref name=Improper/><ref name=fine>{{Cite news |title=Pfizer agrees record fraud fine |work=[[BBC News]] |url=http://news.bbc.co.uk/2/hi/business/8234533.stm |date=September 2, 2009}}</ref> Pfizer entered a [[corporate integrity agreement]] with the [[Office of Inspector General (United States)|Office of Inspector General]] that required it to make substantial structural reforms within the company, and publish to its website its post approval commitments and a searchable database of all payments to physicians made by the company.<ref>{{Cite web |title=Corporate Integrity Agreement between the Office of the Inspector General of the Department of Health and Human Services and Pfizer Inc. |url=https://oig.hhs.gov/fraud/cia/agreements/pfizer_inc.pdf |website=[[Office of Inspector General (United States)|Office of Inspector General]] |date=August 31, 2009 |url-status=live |archive-url=https://web.archive.org/web/20110715112330/http://oig.hhs.gov/fraud/cia/agreements/pfizer_inc.pdf |archive-date=July 15, 2011}}</ref> | ||
====Termination of Peter Rost==== | ====Termination of Peter Rost==== | ||
[[Peter Rost (doctor)|Peter Rost]] was vice president in charge of the [[endocrinology]] division at [[Pharmacia]] before its acquisition by Pfizer. During that time he raised concerns internally about [[kickback (bribery)|kickbacks]] and off-label marketing of Genotropin, Pharmacia's [[human growth hormone]] drug. Pfizer reported the Pharmacia marketing practices to the FDA and Department of Justice; Rost was unaware of this and filed an FCA lawsuit against Pfizer. Pfizer kept him employed, but isolated him until the FCA suit was unsealed in 2005. The Justice Department declined to intervene, and Pfizer fired him, and he filed a wrongful termination suit against Pfizer. Pfizer won a summary dismissal of the case, with the court ruling that the evidence showed Pfizer had decided to fire Rost prior to learning of his whistleblower activities.<ref>{{Cite web |title=ROST v. PFIZER, INC. |publisher=Casetext |url=https://casetext.com/case/rost-v-pfizer-2}}</ref><ref>{{Cite news |url=https://www.nytimes.com/2005/06/08/business/at-pfizer-the-isolation-increases-for-a-whistleblower.html |title=At Pfizer, the Isolation Increases for a Whistle-Blower |first=Alex |last=Berenson |authorlink=Alex Berenson |work= | [[Peter Rost (doctor)|Peter Rost]] was vice president in charge of the [[endocrinology]] division at [[Pharmacia]] before its acquisition by Pfizer. During that time he raised concerns internally about [[kickback (bribery)|kickbacks]] and off-label marketing of Genotropin, Pharmacia's [[human growth hormone]] drug. Pfizer reported the Pharmacia marketing practices to the FDA and Department of Justice; Rost was unaware of this and filed an FCA lawsuit against Pfizer. Pfizer kept him employed, but isolated him until the FCA suit was unsealed in 2005. The Justice Department declined to intervene, and Pfizer fired him, and he filed a wrongful termination suit against Pfizer. Pfizer won a summary dismissal of the case, with the court ruling that the evidence showed Pfizer had decided to fire Rost prior to learning of his whistleblower activities.<ref>{{Cite web |title=ROST v. PFIZER, INC. |publisher=Casetext |url=https://casetext.com/case/rost-v-pfizer-2}}</ref><ref>{{Cite news |url=https://www.nytimes.com/2005/06/08/business/at-pfizer-the-isolation-increases-for-a-whistleblower.html |title=At Pfizer, the Isolation Increases for a Whistle-Blower |first=Alex |last=Berenson |authorlink=Alex Berenson |work=The New York Times |date=June 8, 2005 |url-access=limited}}</ref> | ||
====2014 Illegal marketing of Rapamune settlement==== | ====2014 Illegal marketing of Rapamune settlement==== | ||
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===2010 Firing of employee that filed suit=== | ===2010 Firing of employee that filed suit=== | ||
A federal lawsuit was filed by a scientist claiming she got an infection by a genetically modified [[lentivirus]] while working for Pfizer, resulting in intermittent [[paralysis]].<ref>{{Cite news |title=Ex-Pfizer Worker Cites Genetically Engineered Virus In Lawsuit Over Firing |url=https://www.courant.com/news/connecticut/hc-xpm-2010-03-14-hc-pfizer-virus-lawsuit-0314-artmar14-story.html |work=[[Hartford Courant]] |date=March 14, 2010 |url-status=live |archive-url=https://archive.today/20120728144301/http://www.courant.com/news/connecticut/hc-pfizer-virus-lawsuit-0314.artmar14,0,5614508,print.story |archive-date=July 28, 2012}}</ref> A judge dismissed the case citing a lack of evidence that the illness was caused by the virus but the jury ruled that by firing the employee, Pfizer violated laws protecting [[freedom of speech]] and [[whistleblower]]s and awarded her $1.37{{nbsp}}million.<ref>{{Cite news |title=A Pfizer Whistle-Blower Is Awarded $1.4 Million |url=https://www.nytimes.com/2010/04/03/business/03pfizer.html |first1=Andrew |last1=Pollack |first2=Duff |last2=Wilson |authorlink2=Duff Wilson |work= | A federal lawsuit was filed by a scientist claiming she got an infection by a genetically modified [[lentivirus]] while working for Pfizer, resulting in intermittent [[paralysis]].<ref>{{Cite news |title=Ex-Pfizer Worker Cites Genetically Engineered Virus In Lawsuit Over Firing |url=https://www.courant.com/news/connecticut/hc-xpm-2010-03-14-hc-pfizer-virus-lawsuit-0314-artmar14-story.html |work=[[Hartford Courant]] |date=March 14, 2010 |url-status=live |archive-url=https://archive.today/20120728144301/http://www.courant.com/news/connecticut/hc-pfizer-virus-lawsuit-0314.artmar14,0,5614508,print.story |archive-date=July 28, 2012}}</ref> A judge dismissed the case citing a lack of evidence that the illness was caused by the virus but the jury ruled that by firing the employee, Pfizer violated laws protecting [[freedom of speech]] and [[whistleblower]]s and awarded her $1.37{{nbsp}}million.<ref>{{Cite news |title=A Pfizer Whistle-Blower Is Awarded $1.4 Million |url=https://www.nytimes.com/2010/04/03/business/03pfizer.html |first1=Andrew |last1=Pollack |first2=Duff |last2=Wilson |authorlink2=Duff Wilson |work=The New York Times |date=April 2, 2010 |url-access=limited}}</ref> | ||
===2012 Celebrex intellectual property settlement=== | ===2012 Celebrex intellectual property settlement=== | ||
[[Brigham Young University]] (BYU) said a professor of chemistry, Dr. [[Daniel L. Simmons]], discovered an enzyme in the 1990s that led towards development of [[Celebrex]]. BYU was originally seeking a 15% royalty on sales, equating to $9.7{{nbsp}}billion. A research agreement had been made between BYU and [[Monsanto]], whose pharmaceutical business was later acquired by Pfizer, to develop a better [[aspirin]]. The enzyme Dr. Simmons claims to have discovered would induce pain and inflammation while causing gastrointestinal problems and Celebrex is used to reduce those issues. A six-year battle ensued because BYU claimed that Pfizer did not give Dr. Simmons credit or compensation, while Pfizer claimed that it had met all obligations regarding the Monsanto agreement. In May 2012, Pfizer settled the allegations, agreeing to pay $450{{nbsp}}million.<ref>{{cite news |url=https://www.nytimes.com/2012/05/02/health/pfizer-settles-byu-lawsuit-over-development-of-celebrex.html |title=Pfizer Settles B.Y.U. Lawsuit Over Development of Celebrex |agency=[[Associated Press]] |work= | [[Brigham Young University]] (BYU) said a professor of chemistry, Dr. [[Daniel L. Simmons]], discovered an enzyme in the 1990s that led towards development of [[Celebrex]]. BYU was originally seeking a 15% royalty on sales, equating to $9.7{{nbsp}}billion. A research agreement had been made between BYU and [[Monsanto]], whose pharmaceutical business was later acquired by Pfizer, to develop a better [[aspirin]]. The enzyme Dr. Simmons claims to have discovered would induce pain and inflammation while causing gastrointestinal problems and Celebrex is used to reduce those issues. A six-year battle ensued because BYU claimed that Pfizer did not give Dr. Simmons credit or compensation, while Pfizer claimed that it had met all obligations regarding the Monsanto agreement. In May 2012, Pfizer settled the allegations, agreeing to pay $450{{nbsp}}million.<ref>{{cite news |url=https://www.nytimes.com/2012/05/02/health/pfizer-settles-byu-lawsuit-over-development-of-celebrex.html |title=Pfizer Settles B.Y.U. Lawsuit Over Development of Celebrex |agency=[[Associated Press]] |work=The New York Times |date=May 1, 2012 |url-access=limited}}</ref> | ||
===2011 Nigeria Trovafloxacin lawsuit settlement=== | ===2011 Nigeria Trovafloxacin lawsuit settlement=== | ||