Government lawyers have recovered a near-record $3 billion this year from health care fraud and other settlements, the Justice Department announced Monday.
Imagine being charged with a crime, but an imaginary friend takes the rap for you.
Drug manufacturing giant Pfizer has agreed to pay a $2.3 billion penalty for illegally promoting its pharmaceutical products, the Justice Department announced Wednesday.
Novartis plans to bring a new arthritis painkiller to the U.S. market, but analysts say its similarity to the disgraced drug Vioxx could kill its chances of becoming a billion-dollar blockbuster.
In the nearly two years since Merck pulled its tainted blockbuster Vioxx from the market, Pfizer has enjoyed a monopoly-like market for its own arthritis drug, Celebrex.
Pfizer Inc., the nation's biggest drugmaker, easily topped first-quarter estimates Wednesday and reiterated its earlier revenue and earnings guidance for this year and beyond.
The first Celebrex lawsuit in the country, filed by a stroke survivor against the drug giant Pfizer, is going to trial this year.
The truth hurts. What's the No. 1 cause of disability in the U.S.? It's not heart disease (despite the 1.2 million heart attacks that will show up in the E.R. this year). Nor is it addiction (despi...
Will the scorned painkillers Vioxx and Bextra ever get back on the market? Will Celebrex ever shake its black box warning?
Here's three to think about as we work our way through the week ...
Have you seen Pfizer's stock price lately? It could be worse. In fact, it has been worse.
the time to ignore stocks. The Dow Jones industrial average may not be very active, but beneath the surface of today's market, there's actually quite a lot going on. ...
DALLAS (CNN/Money) - Merck's Vioxx, Pfizer's Celebrex and similar painkillers increase the risk of death among patients who have already survived a previous heart attack, especially when taken in high doses, according to data released Sunday at the American Heart Association conference here.
After watching the stock market go mostly sideways for more than a year, you may be wishing that you could just doze off and have someone wake you when things get interesting again. But now is not ...
After watching the stock market go mostly sideways for more than a year, you may be wishing that you could just doze off and have someone wake you when things get interesting again.
Some scientists look down their noses at me-too drugs, but they can't help but notice the smell of money.
Pfizer chief executive officer Henry McKinnell said that Celebrex, an arthritis painkiller that has seen plunging sales, does not cause heart attacks and strokes and this will be reflected in its new FDA label.
The health risks surrounding arthritis painkillers have caused physicians to back away from prescribing Celebrex, rather than propping up sales for the sole remaining cox-2 inhibitor on the market, according to an analyst report.
The Food and Drug Administration asked Pfizer and other manufacturers to revise their labels to include boxed warnings of potential cardiovascular risks and gastrointestinal bleeding from certain arthritis drugs. The FDA also asked Pfizer to withdraw Bextra from the market. Following is the FDA's statement:
Pfizer Inc. agreed Thursday to change the warning labels on its arthritis drug Celebrex and pull Bextra off the market after regulators expressed concerns about the arthritis medicines' safety. Following is Pfizer's statement:
Pfizer Inc. said Thursday that the Food and Drug Administration asked it to pull its arthritis painkiller Bextra from the market. The following is from the FDA statement:
Stocks posted solid gains Thursday, boosted by a big drop in oil prices and strength in the technology sector.
CNNMoney: Stocks seek directionupdated: Thu Apr 07 2005 09:21:00
Stocks were mixed at the open Thursday as an upbeat forecast from Dell was tempered by rising oil prices, caution from Wal-Mart Stores and a setback for Pfizer.
Pfizer Inc. said Thursday it is pulling its arthritis painkiller Bextra off the market after the Food and Drug Administration asked for the recall.
Money Magazine: When Stocks Get Smackedupdated: Tue Mar 01 2005 00:01:00
The hits just keep on coming. Over the past 12 months a number of big-name companies have been caught up in scandals or blunders—maybe not Enron-bad, but bad enough to keep investors off-kilter. Tw...
Like any government agency that has been around for almost a century, the U.S. Food and Drug Administration (FDA) has endured its share of rough patches. But "rough patch" hardly begins to describe all the bad news that has battered the agency over the past few months, from the possible suicide risks with antidepressants like Prozac, Paxil and Zoloft to the cardiac risks of pain-killers like Vioxx, Celebrex and Bextra.
While the painkillers Celebrex, Bextra, and Vioxx significantly increase the risk of cardiovascular problems, the danger is not great enough to justify taking the drugs off the market, according to an advisory committee of the Food and Drug Administration.
Blue chips rose near the close Friday after a U.S. regulatory panel ruled that Merck's Vioxx was safe enough to return to market.
A panel of experts said Friday that Merck & Co. Inc.'s now-withdrawn painkiller Vioxx was safe enough to be sold in the United States despite an increased risk of heart attack and stroke.
Pfizer Inc.'s pain drug Celebrex has a "probable increased risk" of heart attacks in higher doses but "no apparent effect" in 200 milligram doses or less, a veteran Food and Drug Administration scientist said Thursday in a written presentation.
Stocks appeared set to open slightly lower Wednesday ahead of the mid-morning congressional testimony due from Federal Reserve Chairman Alan Greenspan and following reports of a blast in an Iranian city.
After a clinical study found that its powerful painkiller Vioxx seemed to raise the risk of heart attacks, Merck withdrew the drug from the market on Sept. 30.
CNNMoney: GM warns, stocks diveupdated: Thu Jan 13 2005 09:49:00
Stocks slumped Thursday, after General Motors' late-session profit warning turned a mild slide into a steeper selloff.
CNNMoney: Slipping on oilupdated: Thu Jan 13 2005 05:42:00
Rising oil prices were putting downward pressure on stocks Thursday.
CNN/Money has been running a stock-picking feature since late May. The goal has been to take an in-depth look at a high-profile company and determine whether or not it was worth adding to your portfolio.
The Food and Drug Administration issued a public health advisory Thursday, recommending doctors limit the use of Pfizer Inc.'s Celebrex and Bextra to patients who can't take other pain medicines.
The Food and Drug Administration issued a warning to users of the over-the-counter pain reliever naproxen Monday after federal researchers found an increased number of heart attacks and strokes among users.
Pfizer Inc. said Friday it had no plans to pull the popular painkiller Celebrex off the market despite data showing that patients using the drug in a long-term cancer study had more than double the risk of a heart attack.
Drug stocks took another hit Friday, a day after a veteran Food and Drug Administration researcher said that five drugs currently on the market needed closer scrutiny for possible safety risks.
It's hard to blame investors for shunning drug companies. U.S. presidential candidates have been whipping up resentment over the high price of medicines, with talk of drugs from Canada and possible...
CNNMoney: Shrugging off the Fedupdated: Wed Nov 10 2004 09:46:00
Techs fell on Cisco's earnings, while the broader market ended mixed Wednesday, as investors took in stride an expected rate hike from the Federal Reserve.
Drug manufacturer Pfizer said Friday that its Bextra drug, seen as an alternative to Merck's Vioxx arthritis medication, may raise heart attack risk in high-risk bypass surgery patients.
Investors may look to do some stock shopping Friday after the government reported the strongest jump in retail sales in five months and oil prices cooled from their record levels.
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