Pfizer Inc. (NYSE:PFE) Announce Q3 Dividend And Sues US Government Regarding Anti-Kickback Laws

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Pfizer Inc. (NYSE:PFE) board of directors has declared a $0.38 dividend per common share for the third quarter of 2020.

Pfizer to pay dividends in September

The dividends will be payable to stockholders of common shares on September 1, 200, for those that will be on record by close of business on July 31, 2020. This third-quarter cash dividend will be the company’s 327th consecutive dividend paid per quarter.

The drugmaker is determined to bring therapies that can extend and improve the quality of life of patients. The company, one of the leading biopharmaceutical firms, collaborates with local communities, governments, and healthcare providers to expand access to affordable and reliable healthcare. The company is suing the US government regarding Medicare rules preventing it from assisting seniors co-pay for heart condition medication.

Pfizer sues US government over helping patients pay for heart condition drugs

On Friday, the company sued the US federal government seeking permission to help Medicare beneficiaries pay for two drugs treating a rare and fatal heart condition that costs $225,000 per year. The company is suing against the rules preventing offering of assistance to seniors for the expensive heart drug. Pfizer stated that the Health and Human Services Department is blocking the company from assisting patients to co-pay for Vyndamaz and Vyndaqel drugs because it considers such aids as illegal kickbacks.

The drugs treat transthyretin amyloid cardiomyopathy resulting in stiffening of the heart and impeding it from pumping blood. If untreated, this condition can result in progressive heart failure and even death. In May 2019, the FDA approved the drugs that are also called tafamidis, which the company has refers to as a possible blockbuster. However, there has been criticism of the New-York based Biopharmaceutical Company regarding the costs of the drugs.

In February, an American Heart Society survey revealed that drug was one of the most expensive drugs in the US. According to Medicare rules, drug makers cannot help Medicare patients in co-payment, but they can donate to non-profits offering co-pay assistance.

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