Notive this isn't reported on CNN/Fox News ect...
 

http://news.bbc.co.uk/2/hi/business/8234533.stm

Pfizer agrees record fraud fine


US drugmaker Pfizer has agreed to pay $2.3bn (£1.4bn) in the largest healthcare fraud settlement in the history of the Department of Justice.

It follows the firm being found to have illegally promoted four drugs as treatments for conditions different to those which regulators had approved.

A subsidiary of the firm pleaded guilty to misbranding drugs "with the intent to defraud or mislead".

US officials said Pfizer would have to enter a corporate integrity agreement.

It will be subject to additional public scrutiny by requiring it to make "detailed disclosures" on its website.

Pfizer's general counsel said: "We regret certain actions taken in the past, but are proud of the action we've taken to strengthen our internal controls."

Acting US attorney for the District of Massachusetts, Mike Loucks said that "the size and seriousness of this resolution, including the huge criminal fine, reflect the seriousness and scope of Pfizer's crimes".

The company faces a criminal fine of $1.195bn and a subsidiary company of Pfizer - Pharmacia & Upjohn - will forfeit $105m.

The remaining $1bn fine was levied to resolve the allegations under the civil False Claims Act.

Four drugs

The civil settlement also relates to allegations that Pfizer paid bribes and offered lavish hospitality to healthcare providers to encourage them them to prescribe four of the company's drugs. These were Bextra, an anti-inflammatory drug, Geodon, an anti-psychotic drug, Zyvox, an antibiotic and Lyrica, an epilepsy treatment.

The investigation was trigged by allegations made by six whistleblowers. They will receive $102m of the civil fines paid by Pfizer.

"Although these types of investigations are often long and complicated and require many resources to achieve positive results, the FBI will not be deterred from continuing to ensure that pharmaceutical companies conduct business in a lawful manner," said Kevin Perkins, FBI assistant director, Criminal Investigative Division.

The pharmaceutical firm said earlier this year that it would pay the fine "to put issues that diminish trust behind us".

Pfizer reported a 90% drop in profit to $268m in the fourth quarter of 2008, because of the $2.3bn legal settlement, indicating that the company was aware they would be paying this sum before the terms of the deal with the Department of Justice were announced.


nothing about it reported on CNN..

http://search.cnn.com/search.jsp?que...e&intl =false

nothing about it reported on Fox News..

http://www.foxnews.com/search-results/search?q=Pfizer


The largest healthcare fraud settlement in the history of the Department of Justice and it goes unreported..

maybe i wont have as much spam from them now them lol

Associated Press just announced this 22 minutes ago, I imagine they are writing right now.

In other words they are checking with the lawyers and cross checking the story for an OK with Pfizer, to come up with an acceptable "story" that wont get their advertising pulled.

All of the media that decide to report on this...and probably all will...will report the findings of the Justice Department. Important stories are never ignored.

exactly

this was learned the hardway for my college paper. they wrote a story about how this pizza place would steal your change when you were drunk... the pizza shop pulled their ads :1orglaugh

its on fbi website.. anyways big deal.. this is their 1 day profit.. lol who cares.pharma companies make a lotta $$

Click this link if you want to make money selling drugs

Tested by the FDA and millions of asian men with small penises

Only news site I looked at this morning was CNN and it was on there. Can't find the story now, but I read it there this morning. It was definitely the Bextra ruling.

maybe CNN doesn't want to offend the drug companies. Doesn't Obama have some kind of agreement with them that limits the health care legislation from having the ability to negotiate drug prices?

Here's where I saw it, posted at 12:19pm EST.

http://money.cnn.com/news/newsfeeds/..._N02535605.htm

I agree this should be on the front page due to the size of the ruling. But I'm not going to fall in with the conspiracy crowd on this one.

... and now it IS the lead story on the front page of CNN. They listen to me, you see.

As of right now it's the cover story on CNN.

i guess CNN read GFY & decided they better run the story.