Pfizer (PFE -0.2%) will contribute $964M to resolve asbestos issues, enabling its non-operating...


Pfizer (PFE -0.2%) will contribute $964M to resolve asbestos issues, enabling its non-operating subsidiary Quigley to end a nine-year bankruptcy proceeding. Quigley, which made asbestos-containing products from the 1940s to the 1970s, was bought by PFE in 1968. It stopped most operations in 1992 and filed for bankruptcy in 2004, facing 160K lawsuits. Many also named PFE, whose name appeared on much of its packaging.

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