Mo. grabs $693K from Pfizer settlement

Missouri will receive $693,000 as part of a 42-state settlement with pharmaceutical corporation Pfizer Inc. (NYSE: PFE).

In total, Pfizer will pay out $35 million in the settlement that alleged pharmaceutical maker Wyeth, which Pfizer purchased in 2009, unlawfully marketed its immunosuppressant drug Rapamune for off-label uses, according to a news release.

Missouri Attorney General Chris Koster alleged Rapumune, which is only approved by the Food and Drug Administration to prevent the rejection of transplanted kidneys, also was intentionally marketed by Wyeth for unapproved uses, including liver and lung transplants. Koster said the FDA specifically warned against the use of Rapumune for those types of transplants as they could be harmful to patients.

“Consumers trust they are receiving the appropriate medicine to address their health care need,” Koster said in the release. “We will continue to protect Missouri consumers by holding companies that engage in deceptive marketing practices responsible for their behavior.”

In addition to the settlement, Pfizer is required to ensure its marketing and promotional practices do not unlawfully promote Rapamune or any other Pfizer product, according to the release.

PFE shares were trading at $28.19 as of 10:37 a.m., compared to a 52-week range of $27.76 to $32.96.[[In-content Ad]]