Wyeth DoJ probe
This article was originally published in The Tan Sheet
Executive Summary
Firm "expects to receive a subpoena in the near future" for Department of Justice inquiry "into allegations of collusive practices" with another drug company, Wyeth states in Feb. 11 SEC filing. Case has been referred to a grand jury, Wyeth says. Allegations refer to collusion "relating to commission rates for a sales broker for a small segment of the" firm's OTC business, filing notes, although Wyeth maintains "our practices regarding brokers have not violated the antitrust laws." Schering-Plough disclosed a similar investigation in November. DoJ initiated the inquiry following same-day move by the two firms to reduce fees to Compass Marketing (1"The Tan Sheet" Aug. 19, 2002, In Brief)...
You may also be interested in...
Schering probe
Antitrust division of U.S. Justice Department in February "served a grand jury subpoena on the company seeking documents for the first time" about whether firm's consumer products division entered into an agreement with Wyeth "to lower the commission rate of a consumer products broker," firm says. In March 10 10-K filing with SEC Schering said it is "cooperating with the investigation." Wyeth announced DoJ probe last month (1"The Tan Sheet" Feb. 17, 2003, In Brief)...
Wyeth, Schering broker fees probe
Justice Department antitrust investigators are looking into same-day move by Wyeth and Schering-Plough to reduce fees paid to at least one firm, Compass Marketing, which distributes consumer products to "alternative" outlets such as convenience stores. Both companies reduced fees from 4% to 3% on March 30. Sykesville, Md.-based Compass is cooperating with DoJ requests for documents and employee interviews; it was asked for information about only those two companies. Firm says it was fired by Wyeth Aug. 9. DoJ declined to say whether investigators are looking into other consumer products companies or brokers...
US Q1 Consumer Health Earnings Preview: Label This One Historic And Challenging But Promising
US OTC drug and supplement firms’ reports of results for the first three months of 2024 began on April 19 with P&G. JP Morgan analysts say while “some retailers in the US in particular” are reducing consumer health inventories, for the overall sector they expect “a healthier balance of positive volume and lower pricing contribution.”