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IPFS News Link • Corruption

Pfizer agrees record fraud fine

09-02-2009 • BBC

US drugmaker Pfizer has agreed to pay $2.3bn (£1.4bn) in the largest healthcare fraud settlement in the history of the Department of Justice. It follows the firm being found to have illegally promoted four drugs as treatments for conditions different to those which regulators had approved. A subsidiary of the firm pleaded guilty to misbranding drugs "with the intent to defraud or mislead". US officials said Pfizer would have to enter a corporate integrity agreement. It will be subject to additional public scrutiny by requiring it to make "detailed disclosures" on its website. Pfizer's general counsel said: "We regret certain actions taken in the past, but are proud of the action we've taken to strengthen our internal controls."

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