Drugs Industry | featured news

A Vermont musician who lost an arm to gangrene after being given a common prescription medication won the right to collect nearly $7 million when the Supreme Court ruled in her favor Wednesday.

Justices said a drug company is not protected from injury claims merely because the federal government had approved the products and labeling.

Pfizer Inc. reportedly is close to an agreement to acquire rival drug maker Wyeth for between $65 billion and $70 billion in a cash-and-stock deal that could be announced as early as next week,