Makers of raw milk cheeses fear the government will toughen rules in the name of food safety. The Fiscal Times reports.» Read More
So, it took the torpedoeing of torcetrapib to get new Pfizer CEO Jeff Kindler to finally talk to us. He came on "Power Lunch" today for his first TV interview since taking the helm more than four months ago. A former litigator, he is media savvy, telegenic and a smooth-talker. I don't know why he didn't come on before he was put in the position of serious crisis management with a major hole to fill in the company's drug pipeline and about a ten percent decline in the stock price.
Saturday night Pfizer dropped a bombshell. Two days after the company announced it planned--if all went well--to file for FDA approval of its developmental cholesterol pill Torcetrapib in the second half of next year, Pfizer suddenly pulled the plug on the drug. Tests had shown this pill raises good cholesterol and lowers bad. But the FDA says early Saturday morning Pfizer's Independent Data Safety Monitoring Board told the company about people who died in a clinical trial.