Close on the heels of Lilly’s $1.42 billion penalty for off-label marketing comes the news that Pfizer paid out $2.3 billion to settle similar allegations.

From FiercePharma

News of the Pfizer-Wyeth merger this morning drowned out some not so good news for the company. Just after announcing its $68 billion buyout of Wyeth, Pfizer published its 2008 fourth quarter earnings report. In it, Pfizer reveals a $2.3 billion charge to end investigations into allegations of off-label promotions of the company’s COX-2 meds, including Bextra. That settlement caused a 90 percent reduction in Pfizer’s 2008 net income, according to its financial report.

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