Pfizer agrees to pay $2.3 billion

The Wall Street Journal is reporting today that Pfizer and its subsidiary, Upjohn, have agreed to pay $2.3 billion to settle criminal and civil liability arising out of the illegal promotion of painkiller Bextra, which was pulled from the market in 2005, as well as a handful of other drugs. As part of the agreement, Pfizer agreed to plead guilty to a felony violation of the Food, Drug and Cosmetic Act for misbranding Bextra with the intent to defraud. The company has also settled civil charges related to Bextra, schizophrenia drug Geodon, antibiotic Zyvox, and anti-epilepsy drug Lyrica. Go here for the full story. More on the FDA Law Blog here. Also in AboutLawsuits.com here.