Pfizer GC Loses Compliance Chief Role Under $2.3B Drug Marketing Settlement
Posted Sep 11, 2009 1:58 PM CDT
By Martha Neil
The general counsel of Pfizer Inc. will no longer oversee the drug manufacter's compliance program under the terms of a record-breaking $2.3 billion criminal and civil settlement by the company with the U.S. Department of Justice over allegations that it illegally marketed several drugs.
Instead, a corporate integrity agreement (PDF) provides that Pfizer's compliance officer will report directly to the company's chief executive officer, says Corporate Counsel. The agreement is between Pfizer and the Office of the Inspector General of the U.S. Department of Health and Human Services.
The new reporting scheme should eliminate conflicts of interest and prevent in-house counsel at Pfizer from reviewing or editing reports required by the settlement agreement, says chief counsel Lewis Morris of the inspector general's office.
The drug company didn't respond to Corporate Counsel's requests for comment.
Hat tip: Legal Week.
ABAJournal.com: "Pfizer to Pay Record $2.3B, Subsidiary to Plead to Felony in Drug Marketing Case"