Pfizer Inc. (NYSE:PFE) Under Pressure After Decision To Pay $60 Million In Settlement Charges – (PFE, GSK, MRK, ABT)

  on Aug 08,2012 Posted in Business News ,Finance
 
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Pfizer Inc. (NYSE:PFE) is going to make payments worth $60 million in order to settle matters with the Justice Department and the Securities and Exchange Commission to resolve inducement allegations at its two international units and a subsidiary it obtained with acquisition of Wyeth in 2009.

Pfizer’s units were blamed for breaking the Foreign Corrupt Practices Act. According to this act companies could not offer bribes to foreign officials to take any advantage or to obtain business. The justice department said payments made were against the law to government officials in Russia, Croatia, Bulgaria and Kazakhstan.

The Pfizer SEC civil settlement involves illegal behavior in the above mentioned countries and in some other countries including China, Italy, Siberia and Czech Republic. The Wyeth settlement consists of illegal payments made in China, Indonesia, Saudi Arabia and Pakistan. Pfizer came to know about these legacy-Wyeth problems within 6 months after the deal ended.

Pfizer Inc (NYSE:PFE) total value after the recent close was $177.77 billion and the enterprise value according to Yahoo data was $196.85 billion. The previous 12 month price to sales ratio was 2.80. The company showed 13.85% as a profit margin in the last twelve months and an operating margin at 20.16%.

Taking a look at some competitors, total value of GlaxoSmithKline plc (ADR) (NYSE:GSK) in the stock market was $115.80 billion and the takeover value of the company was $130.84 million. The last twelve month price to sales ratio for the company was 2.73. It had 20.00% as profit margin in the last twelve months and an operating margin at 28.56%. Return on assets was 12.86%

The total value of Merck & Co., Inc (NYSE:MRK) after the latest trading session was $133.83 billion and their enterprise value was $137.91 billion. The prior 52 week price to sales ratio was 2.80. The company recorded a profit margin of 14.17% for the prior 12 months and had an operating margin of 18.86%.

Abbott Laboratories (NYSE:ABT) market capitalization after the most recent trading session was $103.89 billion and the enterprise value was $111.02 billion. Price to sales ratio for the prior 52 weeks was 2.65.

 



 

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