Pfizer: Difference between revisions

In 1989, Pfizer scientists Peter Dunn and Albert Wood created Viagra ([[sildenafil]]) for treating [[high blood pressure]] and [[angina]], a chest pain associated with [[coronary artery disease]]. In 1991, it was patented in the United Kingdom as a heart medication. Early trials for the medication showed that it did not work for the treatment of heart disease, but volunteers in the clinical trials had increased [[erection]]s several days after taking the drug. It was patented in the United States in 1996 and received approval by the [[Food and Drug Administration]] in March 1998. In December 1998, Pfizer hired [[Bob Dole]] as a spokesperson for the drug.<ref>{{Cite news |url=https://www.cnn.com/2013/03/27/health/viagra-anniversary-timeline/index.html |title=Viagra: The little blue pill that could |first=Jacque |last=Wilson |work=CNN |date=March 27, 2013}}</ref> The patents for Viagra expired in 2020.<ref>{{Cite news |url=https://www.theguardian.com/science/2019/jun/09/race-to-replace-viagra-patents-erectile-dysfunction-drug-medical-research-cialis-eroxon |title=The race to replace Viagra |first=David |last=Cox |work=[[The Guardian]] |date=June 9, 2019}}</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>

In July 2008, Pfizer announced 275 job cuts at its manufacturing facility in [[Portage, Michigan]]. Portage was previously the world headquarters of [[Upjohn Company]], which had been acquired as part of Pharmacia.<ref>{{Cite news |last=Jones |first=Al |date=July 15, 2008 |title=Pfizer job cuts don't equal a reduction in work load, says company spokesman |work=[[Booth Newspapers]] |url=https://www.mlive.com/kzgazette/2008/07/pfizer_job_cuts_dont_equal_a_r.html}}</ref><ref name=":0">{{Cite news |date=April 16, 2003 |title=It's official: Pfizer buys Pharmacia |work=CNN |url=https://money.cnn.com/2003/04/16/news/companies/pfizer_pharma/}}</ref>

In June 2010, health insurance network [[Blue Cross Blue Shield]] (BCBS) filed a lawsuit against Pfizer for allegedly illegally marketing drugs Bextra, Geodon and Lyrica. BCBS alleged that Pfizer used kickbacks and wrongly persuaded doctors to prescribe the drugs.<ref>{{Cite news |title=Blue Cross Names and Shames Pfizer Execs Linked to Massages-for-Prescriptions Push |url=https://www.cbsnews.com/news/blue-cross-names-and-shames-pfizer-execs-linked-to-massages-for-prescriptions-push/ |first=Jim |last=Edwards |work=[[CBS News]] |date=June 10, 2010}}</ref><ref>{{Cite news |url=https://www.bizjournals.com/austin/stories/2010/06/07/daily52.html |title=Blue Cross Blue Shield of Texas sues Pfizer |last=Bounds |first=Jeff |work=[[American City Business Journals]] |date=June 10, 2010}}</ref> According to the lawsuit, Pfizer handed out 'misleading' materials on [[off-label use]]s, sent over 5,000 doctors on trips to the [[Caribbean]] or around the United States, and paid them $2,000 honoraria in return for listening to lectures about Bextra.<ref>{{Cite magazine |url=https://www.fiercepharma.com/pharma/bcbs-names-pfizer-managers-kickback-suit |title=BCBS names Pfizer managers in kickback suit |magazine=Fierce Pharma |first=Tracy |last=Staton |date=June 11, 2010}}</ref><ref>{{Cite news |url=https://www.dallasnews.com/business/2010/06/11/blue-cross-blue-shield-of-texas-sues-pfizer-over-drug-marketing/ |title=Blue Cross Blue Shield of Texas sues Pfizer over drug marketing |work=[[The Dallas Morning News]] |date=June 11, 2010 |url-access=subscription}}</ref> Despite Pfizer's claims that "the company's intent was pure" in fostering a legal exchange of information among doctors, an internal marketing plan revealed that Pfizer intended to train physicians "to serve as public relations spokespeople."<ref name=toobig/> The case was settled in 2014 for $325{{nbsp}}million.<ref>{{Cite news |title=Pfizer Agrees to $325 Million Neurontin Marketing Accord |url=https://www.bloomberg.com/news/2014-06-02/pfizer-agrees-to-325-million-settlment-over-neurontin.html |first=Christie |last=Smythe |work=[[Bloomberg News]] |date=June 2, 2014 |url-access=subscription}}</ref> Fearing that Pfizer is "[[too big to fail]]" and that prosecuting the company would result in disruptions to [[Medicare (United States)|Medicare]] and [[Medicaid]], federal prosecutors instead charged a subsidiary of a subsidiary of a subsidiary of Pfizer, which is "nothing more than a shell company whose only function is to plead guilty."<ref name=toobig>{{cite news |url=https://edition.cnn.com/2010/HEALTH/04/02/pfizer.bextra/index.html |title=Feds found Pfizer too big to nail |last1=Griffin |first1=Drew |last2=Segal |first2=Andy |work=CNN |date=April 2, 2010}}</ref>