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Xavier's avatar

Great, as usual, but there is a correction to make. Statins do not make 1 trillion a year. It was an estimate, in 2014 by Ioannidis, that total cumulative sales would approach 1 trillion by 2020. But annual sales are around 15 billion (still a great business though) Source : https://www.imarcgroup.com/statin-market

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Allen's avatar

Anyone who didn't take the (literally) 3 minutes necessary to look into Pfizer's record of unremitting corruption and crimes was and is a fool.

Experimental injections from a serial felon for an imaginary illness. What a wild ride and the show continues.

The short list:

In 2008 Pfizer announced that it was setting aside $894 million to settle the lawsuits that had been filed in connection with Bextra and Celebrex.

In 1996 Pfizer was one of 15 large drug companies that agreed to pay more than $408 million to settle a class action lawsuit charging that they conspired to fix prices charged to independent pharmacies.

In 1999 Pfizer pled guilty to criminal antitrust charges that its former Food Science Group unit took part in two international price-fixing conspiracies—one involving the food preservative sodium erythorbate and the other the flavor enhancer maltol. Pfizer agreed to pay fines totaling $20 million.

In 2002 Pfizer agreed to pay $49 million to settle charges that one of its subsidiaries defrauded the federal Medicaid program by overcharging for its cholesterol-lowering drug Lipitor.

In 2016 the Justice Department announced that Pfizer would pay $784 million to settle allegations that Wyeth underpaid rebates to Medicaid on two of its drugs. Later in 2016 the UK's Competition and Markets Authority fined Pfizer the equivalent of $107 million for charging excessive and unfair prices for an epilepsy drug.

In 2000 the FDA warned Pfizer and Pharmacia, co-marketers of the arthritis drug Celebrex, that the consumer ads they were running for the medication were false and misleading.

Two years later, the FDA ordered Pfizer to stop running a series of magazine ads that the agency said misleadingly suggested that its cholesterol-lowering drug Lipitor was safer than competing products.

In 2003 Pfizer paid $6 million to settle with 19 states that had accused the company of using misleading ads to promote its Zithromax medication for children’s ear infections.

In 2004 Pfizer’s Warner-Lambert subsidiary agreed to pay $430 million to resolve criminal and civil charges that it paid physicians to prescribe its epilepsy drug Neurontin to patients with ailments for which the medication was not approved.

In 2007 Pfizer subsidiary Pharmacia & Upjohn agreed to pay $34.7 million to settle federal charges relating to the illegal marketing of its Genotropin human growth hormone.

In 2009, Pfizer was fined $2.3 billion, then the largest healthcare fraud settlement and the largest criminal fine ever imposed in the United States. Pfizer pled guilty to misbranding the painkiller Bextra with "the intent to defraud or mislead,” promoting the drug to treat acute pain at dosages the FDA had previously deemed dangerously high.

John Kopchinski, a former Pfizer sales representative whose complaint helped bring about the federal investigation, told the New York Times: “The whole culture of Pfizer is driven by sales, and if you didn’t sell drugs illegally, you were not seen as a team player.”

In 2010 Pfizer disclosed that during a six-month period the previous year it had paid $20 million to some 4,500 doctors and other medical professionals for consulting and speaking on the

company’s behalf.

In 2011 Pfizer agreed to pay $14.5 million to resolve federal charges that it illegally marketed its bladder drug Detrol.

In 2012 the U.S. Securities and Exchange Commission announced that it had reached a $45 million settlement with Pfizer to resolve charges that its subsidiaries had bribed overseas doctors and other healthcare professionals.

In 2012, Pfizer paid $1.2 billion to settle claims by nearly 10,000 women for punitive damages for the drug maker’s actions in withholding information about the risk of breast cancer from Prempro.

In 2013, Pfizer agreed to pay $55 million to settle criminal charges for failing to warn patients and doctors about the risks of kidney disease, kidney injury, kidney failure, and acute interstitial nephritis caused by its proton pump inhibitor, Protonix.

In 2013, Pfizer set aside $288 million to settle claims by 2,700 people that its drug, Chantix, caused suicidal thoughts and severe psychological disorders. The FDA determined that Chantix is probably associated with a higher risk of a heart attack.

In 2013 Pfizer reached a $35 million settlement relating to the improper marketing of the kidney transplant drug Rapamune brought by more than 40 state attorneys general.

In 2000 the Washington Post published a major exposé accusing Pfizer of testing a dangerous new antibiotic (in 1996) called Trovan on children in Nigeria without receiving proper consent from their parents. This unapproved clinical trial on 200 Nigerian children with its experimental anti-meningitis drug, Trovafloxacin, caused the death of 11 children from kidney failure and left dozens more disabled.

In 2001 Pfizer was sued in U.S. federal court by thirty Nigerian families, who accused the company of using their children as human guinea pigs.

In 2006 a panel of Nigerian medical experts concluded that Pfizer had violated international law.

In 2009 the company agreed to pay $75 million to settle some of the lawsuits that had been brought in Nigerian courts.The U.S. case was settled in 2011 for an undisclosed amount.

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