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Pfizer probed over Rezulin
Federal grand jury seeks information about withdrawn diabetes drug.
March 29, 2002: 1:47 PM EST

NEW YORK (CNN/Money) - A federal grand jury is seeking information about Pfizer Inc.'s diabetes drug Rezulin, which was pulled from the market in 2000.

Pfizer (PFE: Research, Estimates), in a filing with the Securities and Exchange Commission Thursday, said a federal grand jury in Maryland is seeking documents relating to Rezulin and testimony from former employees of its subsidiary Warner-Lambert.

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The company said it is cooperating with the investigation.

Rezulin was withdrawn on concern it was linked with liver damage; the company is facing more than 2,000 federal and state lawsuits.

Pfizer also said the Department of Justice is probing two years of the company's pricing of Lipitor, which is used to treat high cholesterol.

The investigation is centered on whether grants made to certain health plans and pharmacy benefit managers should be characterized as rebates, Pfizer said in an annual report filed with the U.S. Securities and Exchange Commission.

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Rebates would entitle the U.S. government to a better discount under Medicaid price rules, the New York-based company added.

Pfizer said it was cooperating with the investigation on 1999 and 2000 pricing by Warner-Lambert, which Pfizer bought in June 2000.  Top of page


-- from staff and wire reports






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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.