1. Pink Sheet

Pfizer On Track To Settle Rapamune Investigation; Protonix Probe Still Unresolved

 
• By Brenda Sandburg

Pfizer has reached an agreement-in-principle with the Department of Justice in the Rapamune investigation and taken a charge of $491 million; Novartis settles allegations over the marketing of Elidel for $19.9 million.

Pfizer Inc. announced that it has set aside $491 million to settle a government investigation of off-label marketing of the immunosuppressant Rapamune (sirolimus). But it has not yet resolved a separate probe of the promotional practices for the heartburn drug Protonix (pantoprazole). Both investigations involve the marketing practices of Wyeth, which Pfizer acquired in 2009.

In its recent financial report Pfizer stated that its 2012 third quarter earnings, which decreased 16% from the year-ago quarter, “were unfavorably impacted by a $491 million charge resulting from an agreement-in-principle with the U.S

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