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Pfizer to pay $2.3 billion to settle marketing charges

Pharmaceutical giant Pfizer Inc will pay a record $2.3 billion to settle civil and criminal charges about how it marketed some of its drugs under a settlement to be unveiled on Wednesday, a source said.

The company, which is acquiring rival Wyeth, had warned in January that it had taken a $2.3 billion charge late last year to resolve investigations involving Bextra and a dozen other drugs, but did not provide details at the time.

The agreement will be unveiled later by the US Justice Department and Health and Human Services Department, the source said. Pfizer and government spokespeople declined to comment. (Reuters)