Pfizer Dismissed from Multi-State Generic Drug Price-Fixing Lawsuit
PFE is trading near its 52-week low of $23.11 (6.1% above the low) on light trading volume (0.3× avg).
Summary
Pfizer has been dismissed as a defendant from a multi-state antitrust lawsuit alleging generic drug price-fixing by its former Greenstone unit. The court ruled that states failed to prove Pfizer conspired to rig bids for six drug products. This removes a significant legal overhang and potential financial liability for Pfizer. Viatris, which acquired Greenstone in 2020, is not directly impacted by this specific dismissal.
At the time of this announcement, PFE was trading at $24.52 on NYSE in the Life Sciences sector, with a market capitalization of approximately $139.8B. The 52-week trading range was $23.11 to $28.75. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.