Pfizer Agrees to Pay $2.3 Billion for Unlawful Drug Promotions | Dallas, Texas Personal Injury Attorney Blog

Pfizer has agreed to pay a record high civil penalty of $2,300,000,000.00 in connection with charges that it was engaged in unlawful prescription drug promotions. The announcement of the agreement came from the U.S. Justice Department, who in conjunction with the FBI, federal prosecutors, and Health and Human Services Department officials have been investigating this case.

Pfizer is the world’s largest drug manufacter and is accused of recommending and promoting its drugs for so-called “off-label” uses that have not been approved by the Food and Drug Administration.

Although the penalty is the largest penalty ever, the penalty does not appear to have phased Pzier. When Pfizer originally disclosed the settlement figure, it also announced plans to acquire rival drug manufacturer Wyeth for $68 billion. That deal is expected to close before year’s end. Also, despite the news release of the $2.3 billion penalty, shares of Pfizer were up 9 cents at $16.47 in early trading Wednesday.