Pfizer Pays Settlements for Wyeth Pharma Subsidiary and 2 Other Dow Movers to Watch
Pfizer Inc. (NYSE:PFE): Current price $29.28
Pfizer is paying the United States government and several states in excess of $450 million to settle claims that its subsidiary Wyeth Pharmaceuticals unlawfully marketed the immunosuppressant drug Rapamune, The Wall Street Journal reports. Marlene Sandler and Scott Paris, the Pfizer whistleblowers who started the case, were pharmaceutical sales representatives who used a lawsuit filed under the Federal False Claims Act to claim that their firm actively marketed Rapamune for purposes not approved by the Food and Drug Administration. The settlement of the Rapamune case is one more in a long series of cases brought against the pharmaceutical industry for unlawfully marketing drugs.
Proctor & Gamble Co. (NYSE:PG): Current price $82.15
Proctor & Gamble’s Gillette has teamed up with basketball great and Hall of Fame member Robert “The Chief” Parish in support of the Boys & Girls Clubs of Boston during a day of mentorship, inspiration, and grooming fun, according to a press release. “Gillette is proud to have worked with Boys & Girls Clubs of America to update its Passport to Manhood program, which promotes and teaches responsibility to Club boys as they begin their journey into adulthood, by working together to help build the next generation of great men,” the release says.
Wal-Mart Stores Inc. (NYSE:WMT): Current price $77.49
As part of a settlement with the Department of Labor, Wal-Mart will improve safety conditions for employees who use trash compactors and cleaning chemicals at more than 2,800 of its stores. The retailer has also agreed to pay a $190,000 penalty to repair hazards found during an Occupational Safety and Health Administration inspection at a store in Rochester, New York. The agreement announced on Wednesday covers 2,857 Wal-Mart and Sam’s Club stores in 28 states that adhere to federal OSHA standards. The 22 states that operate their own OSHA inspection programs could negotiate similar agreements.
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