Pfizer Inc. corporation - one of the world's largest pharmaceutical companies and ranked 57 on the 2018 Fortune 500 list - is supposed to be Covid-19 game changer after it showed strong results in trials. Stock markets significantly reacted but not only. For instance, only the European Union has agreed to buy up to 300 million doses of the coronavirus vaccine.
That what the media say right now. But there are more interesting stories about Pfizer that are happening now and nobody wants talk about 'not interesting' facts. Within this post, we list a few facts that each investor should catch an eye on Pfizer and German-related company BioNTech that can found in a quarterly securities filing of Pfizer. Here is a list of untold stories:
1) The U.S. Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) are looking into Pfizer's operations in China, Russia and India. Both requests fall under the Foreign Corrupt Practices Act (FCPA), which forbids U.S. firms and individuals from bribing foreign government officials to benefit their businesses. Only in 2012, Pfizer agreed to pay over $60 million to settle charges by the SEC and DOJ for allegedly violating the FCPA.
2) In March 2020, Pfizer Inc. paid $200 million to California consumers for the alleged off-label marketing of its harmful hormone therapy products. The case was originally filed in December 2003.
3) The U.S. Department of Justice Antitrust Division Investigation investigates not transparent Greenstone generics business which may pursue a suit for the recovery of civil damages and penalties on behalf of the government.
4) Biogen Idec MA Inc. filed patent litigation against Pfizer which is pending in the U.S. District Court for the District of New Jersey and the United States Court of Appeals for the Federal Circuit. Company has acknowledged that it is obligated to satisfy any award of damages.
Last but not least, it is worth to mention that the Pfizer's CEO sold stock worth $5.6 million on same day as COVID-19 vaccine announcement.
