Asbestos deal costs Pfizer 430 million
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Pfizer, the world&#39;s largest drug maker, agreed Friday to pay $430 million to resolve personal-injury claims against a subsidiary that sold products containing asbestos in the 1970s.
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NEW YORK - Shares of pharmaceutical company Pfizer Inc. fell sharply in early trading after the firm reported an increased risk of heart disease for patients taking its Celebrex painkiller and arthritis drug.
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James Hardie Industries NV, Australia&#39;s fourth-biggest building materials maker, agreed to cover an estimated A$1.5 billion ($1.1 billion) shortfall in compensation for sufferers of asbestos diseases.
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ELEANOR HALL: Talks began today between the former asbestos maker James Hardie, the ACTU and asbestos support groups aimed at reaching a deal to compensate thousands of future victims of the company&#39;s products.
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By Jane M. Von Bergen, The Philadelphia Inquirer  Dec. 9--A computer nightmare from early in the decade is still haunting Cigna Corp.   The Philadelphia insurance company will pay $93 million in the settlement of a class-action shareholder lawsuit, it was announced yesterday.
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A potential treatment for fibromyalgia sent shares close to $17 today.
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Pfizer Inc. PFE.N on Friday said it  would take a third-quarter pretax charge of $369 million for a  settlement with plaintiffs who allege they were harmed by  products containing asbestos and other minerals once sold by a  Pfizer subsidiary.
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Patients with a potentially fatal lung condition have spent hundreds of millions of dollars on a drug that was not approved for their disease but was promoted for that use.
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(InfoWorld) - A letter from Pfizer Inc.'s attorney to Connecticut Attorney General Richard Blumenthal shows the drug maker first learned of a data breach involving about 17,000 of its employees on April 18 -- six weeks before the company started notifying them of the incident on June 1. The July 11 letter, signed by Bernard Nash of Dickstein Shapiro LLP, also said that that a "small group" of additional individuals may have been affected by the breach, in addition to the 17,000 that were originally reported. Nash's letter, which was posted online by New London, Conn.-based The Day, was in response to a note Blumenthal has sent on June 6 to Pfizer. In it Blumenthal sought a full explanation of the circumstances surrounding the breach, in which personal data belonging to about 17,000 Pfizer workers was exposed by a file-sharing program that had been illegally installed on a company laptop. According to Pfizer's original notice, about 15,700 individuals actually had their data accessed and copied by an unknown number of persons on a peer-to-peer network. The company said that while data on the rest of the affected individuals may have been exposed, it could not confirm if the information had actually been copied. Among the issues that Blumenthal sought clarifications on were the measures that Pfizer had in place prior to the breach to protect against data compromises, as well as information about when the company discovered the breach and how it responded to the incident. Blumenthal's letter also asked Pfizer to describe how it was able to make a distinction between the data that was actually copied and data that might only potentially have been accessed. In his formal response on Pfizer's behalf, Nash said that Pfizer learned of the incident on April 18 when an independent computer consultant informed the company that he had found Pfizer data on a peer-to-peer network. The compromise occurred on March 26 when the spouse of a Pfizer employee used the employee's password to access the computer and install an unauthorized file-sharing software program on it, Nash said. He however offered no explanation on why the company waited till June 1 to inform those affected by the breach. "That software was configured by the spouse so that other users of the file-sharing network could access certain files that the spouse had stored in the employees' laptop," Nash said. "Unfortunately, the software configuration also allowed users of the file-sharing network to access certain other files -- Pfizer files -- contained on the laptop," Nash noted in his letter. In addition to the personal data on Pfizer employees, other information pertaining to the company's pharmaceutical sales business and operations was compromised, he said. Some of the users on the file-sharing network who accessed Pfizer files were using newer file-sharing software versions that recorded the fact that certain files had been copied, Nash said. As a result, Pfizer was able to determine which of the files had been actually accessed and copied and which ones may have only been exposed, he added. Nash, however, offered no explanation on why the company waited till June 1 to inform those affected by the breach.
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By Alejandro Bodipo-Memba, Detroit Free Press  Sep. 7--Pfizer Inc. will donate lab equipment valued at more than $1 million to Michigan-based start-up companies focused on life-science research.
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SYDNEY: James Hardie Industries yesterday struck a deal to pay US$1.1bil to compensate asbestos-related disease sufferers, boosting the company&#39;s stock as much as 8% as a 14-month row over funding neared its end.
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Halliburton Co., the world&#39;s No. 2 oil field services company, posted a quarterly loss today as gains in its energy business were outweighed by $230 million in charges to fund its asbestos settlement.
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Halliburton Co. HAL.N , the world's  No. 2 oil field services company, on Tuesday posted a  third-quarter net loss as it took $230 million in charges to  fund its asbestos liability.
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Schering-Plough Corp. paid $435 million in fines and pleaded guilty to criminal conspiracy charges to settle Justice Department accusations that it lied to the government about drug prices and improperly marketed cancer drugs for uses not approved by the Food and Drug Administration.
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Australian building products group, James Hardie, agrees to pay $1.1bn to sufferers of asbestos-related diseases.
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The discontinuation of Exubera, an inhaled insulin, is another black eye for Pfizer, the worldâs biggest drug company, which has recently sustained a series of reversals.
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Pfizer Inc. PFE.N is close to an  agreement to buy Angiosyn Inc., a biotech start-up working on a  drug to ward off blindness, in a deal potentially valued at  $527 million, the Wall Street Journal reported on Thursday,  citing people familiar with the situation.