Pfizer Chief Executive Ian Read’s total pay rose 23 percent last year, a Wall Street Journal article reports. Read’s total pay package for 2014 was $23.3 million. The pay increase comes after Pfizer’s board declared Read’s leadership last year to be “outstanding.”
Despite the board’s praise, 2014 was hardly a trouble-free year for the New York–based company. As in previous years, Lipitor lawsuits continued to accumulate against Pfizer. ...
continue reading...Wyeth Pharmaceuticals, a subsidiary of Pfizer, was charged with illegally marketing a drug that was not cleared for use by the FDA. A story in Reuters reports that Wyeth illegally marketed its organ transplant drug Rapamune for conditions it was not approved to treat.
The charges indicated that Wyeth trained and encouraged sales representatives to promote Rapamune for uses other than preventing rejection ...
continue reading...On July 31, 2013, the United States Department of Justice announced that Wyeth Pharmaceuticals pleaded guilty to misbranding a drug and agreed to pay $490.9 million to resolve criminal and civil liability. The drug in question, Rapamune, was approved by the FDA in 1999 for use in preventing the body’s immune system from rejecting kidney transplants. Wyeth, however, allegedly trained its U.S. sales force to promote the drug for use in transplants of other organs, something that is ...
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