Pfizer Inc., the world’s largest generic drug maker, has agreed to pay $4.2 billion to settle charges it made improper marketing practices in the treatment of impotence. Pfizer, the world’s largest drug maker, has agreed to pay $4.2 billion to settle charges that it had made misleading and inaccurate statements in connection with its impotence drug Viagra.
Under U. S. law, Pfizer may only make drugs for sale to patients who have been diagnosed with impotence. Under the terms of the settlement, Pfizer will receive a total of $4.1 billion, which includes $7 billion in cash, $3.5 billion in stock options and $3.3 billion in shares of the companies and their shareholders. Pfizer will also receive $3 billion in cash, $3.5 billion in stock options and $2.9 billion in shares of its common stock and $1.2 billion in common stock options, Pfizer said. The agreement was announced Friday, April 9, at Pfizer’s headquarters in New York.
In a statement Thursday, Pfizer said it had made “no representations or warranties about the accuracy, accuracy or completeness of the information contained herein.” The company said Pfizer had acted in good faith in its interpretation of and obligations under U. patent law. Under the settlement, Pfizer may not make any changes to its patent or patent designations, or changes in the designations or contents of its patent or patent designations, including changes in its patent or patent designations, to reflect the quality and efficacy of the drug.
“Pfizer does not and will not be held responsible for any adverse actions or events, other than those specified herein, which may result in the negative outcome of the case,” Pfizer said in a statement. “Pfizer has never made any such changes in its patent or patent designations, and Pfizer’s responsibility is to the safety and efficacy of its drugs.”
Pfizer and the other companies agreed to pay $3.3 billion to settle civil and criminal charges related to Pfizer’s promotion of Viagra to patients. The settlement resolves allegations that Viagra was used to treat impotence for more than 10 years, and that Pfizer had illegally marketed the drug to patients for sexual enhancement and other unapproved uses, including impotence. Pfizer will pay a total of $3.3 billion to settle criminal and civil civil charges related to Pfizer’s promotion of Viagra to patients.
Pfizer said its most recent settlement with Pfizer is that it will pay $1.8 billion to resolve all legal and civil claims related to the marketing of Viagra, including civil actions. The settlement is in addition to a settlement reached in July that Pfizer reached with the U. Department of Justice and other federal law enforcement agencies for additional settlements in connection with the marketing of the drug. Pfizer’s shares rose 4.8 percent in trading Thursday.
In a statement Thursday, Pfizer said it had made no representations or warranties about the accuracy, accuracy or completeness of the information contained herein. The company said Pfizer had acted in good faith in its interpretation of and obligations under U. Under the settlement, Pfizer will receive a total of $1.8 billion in cash, $2.8 billion in stock options and $2.8 billion in shares of its common stock and $2.9 billion in common stock options, Pfizer said.Pfizer said it will continue to pay the company’s share price of $1.65 per share, up from $.13 in the prior year’s closing price. In the past year, the company has made more than $1.5 billion in the pharmaceutical industry.
Pfizer, headquartered in New York, is a global pharmaceutical company. Its products include GlaxoSmithKline, Schering-Plough Corp., Merck & Co., Inc., Schering-Plough, Bristol-Myers Squibb Co., and Eli Lilly and Company. Its subsidiaries, Pfizer Pharmaceuticals USA, Inc., AstraZeneca PLC and Bristol-Myers Squibb Co., are among the most well-known companies in the world.
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The most common side effects of Viagra include headache, flushing, and indigestion. More serious side effects, though rare, include muscle aches or tenderness, stomach pains, and changes in hearing or vision. Rarely, sexual side effects include priapism (prolonged erection), sudden vision or hearing loss, and sudden hearing loss. If you experience any of these serious side effects while taking Viagra, seek medical attention immediately.
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Before you take Viagra, be sure to inform your doctor of any other medications you are taking, including (if you are pregnant or plan on becoming pregnant), any herbal supplements, and any other medications. Viagra may cause the following side effects: stomach upset; decreased sodium levels in the blood; diarrhea; headache; dizziness; nausea; pain; or swelling. If you experience any of these side effects, contact your doctor immediately.
Generic name: Sildenafil
Pronunciation:eringh
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