Pfizer Buys 40% of Brazilian Drug Maker Teuto

Pfizer, US pharmaceutical giant, has bought 40 percent of Brazilian drug company Teuto for a whopping 238 million dollars.

The purchase could lead to the 100-percent acquisition of Teuto in 2014, it said in a statement.

Pfizer Struck A Deal To Acquire King Pharma for $3.6 Billion
Pfizer, the world's largest drug maker, said Tuesday it will buy King Pharmaceuticals for 3.6 billion dollars in a bid to boost its position in the pain-relief market.

The 40-percent stake "allows Pfizer to increase its participation in Brazil's pharmaceutical market," the head of Pfizer Brazil, Victor Mezei, said in the statement.

He explained that the deal could result in Teuto producing generic versions of Pfizer medicines, and Pfizer using Teuto products in its output.

Pfizer is the world's second-biggest pharmaceutical company in the world after US rival Johnson & Johnson, according to Fortune magazine.

Pfizer Hormone Therapy Retrial Allowed by US High Court
A partial retrial against Pfizer in the case of an Arkansas woman who got breast cancer after taking hormone replacement therapy has been allowed by the US Supreme Court.

The maker of Viagra to treat erectile dysfunction and Lipitor to lower cholesterol, it had 2009 revenues of 50 billion dollars and profits of 8.6 billion dollars.

Pfizer Brazil generated 703 million dollars in revenues last year.

Lawsuits in Pfizer Nigeria Case to Continue - US Supreme Court
Lawsuits by Nigerian families against Pfizer were allowed to proceed when the US Supreme Court rejected the pharmaceutical giant's appeal.

Source-AFP

Pfizer DNA Tests Come to Halt in Nigeria Following Court Orders
A Nigerian court has ruled barring US firm Pfizer from conductiong DNA tests to determine compensation related to children who died or were deformed during a drug trial.