New York, NY (JusticeNewsFlash.com)–Pfizer Inc., the major drug manufacturer who announced on Monday it would acquire drug company rival Wyeth for $68 billion. Bloomberg reported today, Pfizer entered into an agreement with the U.S. Attorney in Massachusetts to pay a record $2.3 billion to settle allegations by the federal government in connections with their recalled popular pain medication Bextra.
Pfizer was accused of off label marketing and violating federal guidelines and standards in marketing their popular pain medication Bextra for uses not approved by the U.S. Food and Drug Administration (FDA) www.fda.gov. Pfizer, based in New York, recalled Bextra in 2005 amidst a national uproar involving highly prescribed and popular non-narcotic, non-steroidal, anti-inflammatory, COX-2 pain medication recalls like Vioxx and eventually Celebrex.
The settlement agreement in the federal government’s lawsuit against Pfizer is now the largest to date and tops the recent $1.42 billion Eli Lilly recently agreed to pay. Earlier this year drug maker, Lilly, agreed to a record $1.42 billion for violating federal off-label marketing standards with their famous antipsychotic drug, Zyprexa.