Stories related to: Pfizer

Pfizer has struck a deal with an Indian generic drug maker to delay a cheaper version of Lipitor in the US until November 2011. The agreement limiting generic versions of the cholesterol-lowering drug will translate into billions more in profits for Pfizer, the New York Times reports. Lipitor, the world's best-selling medicine, costs about $3 a day; a generic version will likely be less than $1. More »

Pfizer smoking-cessation drug Chantix has been linked to nearly a thousand serious incidents in the last quarter of 2007, the Wall Street Journal reports. A report from a drug safety group found that some users of the drug—already linked to depression and suicide—suffered heart trouble, diabetes, or accidents caused by dizziness and confusion. More »

A congressional panel will examine three ad campaigns as part of a move to tighten regulations on drug companies' direct-to-consumer marketing, the Wall Street Journal reports. The committee will focus on ads for cholesterol drugs Vytorin and Lipitor, and anemia drug Procrit, which has been promoted as an anti-fatigue drug despite FDA demands not to do so. More »

The Dow ticked up 1.22 points to close at 12,620.49 today, after a flood of mixed earning reports mostly kept stocks down during the session. One analyst was impressed the market didn’t dip, saying it “seems to be holding up relatively well, especially after yesterday’s rally.” The Nasdaq was off 8.28 points, closing at 2,341.83, and the S&P rose 0.85 to 1,365.56. More »

The stock portfolios of Supreme Court justices have become a flash point this term, in which six cases could be affected by justices recusing themselves because they own financial stakes in companies involved. Chief Justice John Roberts, Justice Samuel Alito, and Justice Stephen Bryer have bowed out of cases involving Pfizer, Exxon and Cisco, respectively—apparently because of stock holdings, Bloomberg reports. More »

Pfizer said today it will drop its ads for cholesterol drug Lipitor due to criticisms of the TV spots, the New York Times reports. US lawmakers recently probed whether the campaign had inflated the credentials of artificial heart developer Dr. Robert Jarvik. "The way in which we presented Dr. Jarvik in these ads has, unfortunately, led to mis-impressions and distractions," said Pfizer president Ian Read. More »

Drug companies have slapped a series of huge price hikes on some prescription drugs ahead of drug patent expirations, the Wall Street Journal reports. GlaxoSmithKline has raised the price of antidepressant Wellbutrin 44.5%, while Sanofi-Aventis hiked Ambien's price 70%. Wholesale prices for the top 50 drugs increased an average of nearly 8% last year. More »

Taking epilepsy medication can double risk of suicidal behavior, the San Francisco Chronicle reports. Results of a government study showed the increased risk for 11 specific drugs, including Pfizer’s Neurontin and Lyrica, but the Food and Drug Administration warned that the findings probably apply to all epilepsy medications. Labels for the drugs will be changed to reflect the risks. More »

A Chinese pharmaceutical giant which exports the abortion pill RU-486 to the US is accused of producing tainted cancer medication and of attempting a cover-up.  Shanghai Hualian's tainted drugs left 200 Chinese leukemia patients hospitalized, some paralyzed, reports the New York Times . There's no indication US shipments of RU-486 are also tainted. The company is the sole supplier of RU-486 to the US. More »

Roughly half of the medical studies involving antidepressants that found little or no effect on patients have gone unpublished or had their findings mischaracterized as positive, a new study reveals. The emphasis on publishing only studies with glowing reviews gives patients and doctors a false sense of the effectiveness of drugs such as Zoloft and Effexor, the Wall Street Journal reports. More »

The first drug approved by the FDA to treat fibromyalgia is raising questions, but not the typical ones about whether the medication works. They're questions about whether the disease even exists. Lyrica sales are up and climbing, but critics say giving a name to the chronic pain that characterizes fibromyalgia lends the diagnosis undeserved legitimacy, the New York Times reports. More »

Patent protections on some of the pharmaceutical industry's best-selling drugs, like Lipitor, Plavix and Singulair, are due to expire in the next several years, and drug manufacturers have little in the pipeline to replace them. The drug companies will lose billions—as much as half their combined revenue—to generic competitors, triggering an unprecedented industry crisis, reports the Wall Street Journal . More »

Pfizer is trying to stave off its own heart attack now that its flagship cholesterol-lowering drug Lipitor faces stiff competition from a cheaper generic. Lipitor is still patent-protected, but a very similar drug called Zocor isn't, and since a generic version called simvastatin hit the market, many doctors and insurers are steering patients away from Lipitor to the cheaper alternative, the New York Times says. More »

The world's largest drug maker took a 77% hit in third-quarter net income after dropping Exubera, its inhaled insulin product. Competition from generic drugs also pulled down sales, Pfizer announced this morning, as the company lowered its 2007 net-income forecast. More »

Nigeria is suing pharma giant Pfizer for $7 billion, claiming the company carried out improper trials on children. 200 children in the state of Kano died, and others developed deformities, after Pfizer tested Trovan, an experimental antibiotic, during a 1996 meningitis outbreak. Nigeria claims the tests were unauthorized, but Pfizer insists the company had consent. More »