Major Drug Companies Cough Up Cash to Keystone State

Pfizer, Bayer and others pay settlements

Three state agencies received settlements totaling nearly $50 million from major pharmaceutical companies today. Pfizer, Bayer, Aventis and Schering dolled out payments in an effort to settle lawsuits filed in 2004 alleging the companies manipulated the Average Wholesale Price. The Pennsylvania Department of Public Welfare, PACE (the Pharmaceutical Assistance Contract for the Elderly) and PEBTF (the Pennsylvania Employees Benefit Trust Fund) all received a part of the settlements. [Philadelphia Business Journal]