News Headlines Article

Pfizer adds $784.6M charge for Protonix deal to Q4 results
Modern Healthcare

Drugmaker Pfizer swung to a fourth-quarter financial loss, instead of a modest profit, as a result of a just-announced charge to settle a long-running federal case over reimbursements for its former blockbuster heartburn pill.

Pfizer, which is planning a mega-acquisition of Irish drugmaker Allergan meant to reduce Pfizer’s corporate tax bill, said Tuesday that it has a tentative agreement to pay the federal government $784.6 million.

Commands