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Pfizer Inc. (PFE) Statement On Resolution Of Warner-Lambert (PFE) Neurontin Legal Matters


10/19/2005 5:11:17 PM

NEW YORK, May 13 /PRNewswire-FirstCall/ -- Pfizer issued the following statement today on the resolution of Warner-Lambert Neurontin legal matters:

The settlement reached today is a full and final resolution by Warner-Lambert of all outstanding federal and state governmental investigations related to the promotion and marketing of Neurontin (gabapentin) by Warner-Lambert's Parke-Davis Division. The underlying allegations and related investigations originated in 1996, well before Pfizer's acquisition of Warner-Lambert in 2000. The allegations and conduct pertain solely to Warner-Lambert practices.

Pfizer has cooperated fully with the government to resolve this matter, which did not involve Pfizer practices or employees. Pfizer is committed to compliance with all healthcare laws and FDA requirements and to high ethical standards in all aspects of its business practices. Indeed, the government has acknowledged the voluntary compliance measures Pfizer has long had in place.

Neurontin was approved in 1993 for the treatment of partial seizures with and without secondary generalization in adults with epilepsy. In 2002, Pfizer received approval for Neurontin for treatment of post-herpetic neuralgia. Neurontin continues to help millions of patients who go to their doctors to seek safe and effective treatment for these medical conditions.

In January, Pfizer took a charge to fourth quarter 2003 earnings of $427 million pre-tax ($403 million after-tax) in connection with these matters. By resolving all outstanding investigations related to Neurontin, Pfizer will no longer have the expense and uncertainty associated with them.

Photo: A free corporate logo to accompany this story is availableimmediately via Wieck Photo Database to any media with telephoto receiver orelectronic darkroom, PC or Macintosh, that can accept overhead transmissions.To retrieve a logo, please call 972-392-0888. Pfizer Inc

CONTACT: Paul Fitzhenry, Pfizer Inc, +1-212-733-4637

Company News On-Call: Pfizer's press releases are available through PRNewswire's Company News On-Call service on PRN's Web Site. Visithttp://www.prnewswire.com/comp/688250.html

Company News On-Call: http://www.prnewswire.com/comp/688250.html



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