Newspaper wrap-up: Pfizer's anti-smoking medicine under scrutiny
Posted May 22nd 2008 8:00AM by Laurie Pasternack
Filed under: Newspapers, Magazines, Pfizer (PFE), Amer Intl Group (AIG), BHP Billiton Ltd ADR (BHP)
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MAJOR PAPERS:
- Future crude oil supplies may be a lot tighter than thought. That is what the International Energy Agency in Paris is expected to find when it releases its assessment of the world's 400 major oil fields in November, according to the Wall Street Journal, a reversal from previous reports and is based on a lack of investment and aging oil fields.
- The Institute for Safe Medication Practices, a nonprofit safety organization, found serious side effects linked to Pfizer Inc's (NYSE: PFE) Chantix, a smoking cessation drug. Chantix, which has been banned by the FAA for use by pilots and air-traffic controllers, is already tied to psychiatric issues, including depression and suicide, according to the Wall Street Journal, and the report also points to heart trouble, seizures and diabetes.
OTHER PAPERS:
- The New York Times reported that the Jacksonville Police and Fire Pension Fund has accused American International Group Inc (NYSE: AIG), along with several of its executives, of inflating its stock price artificially by understating the company's exposure to the subprime mortgage crisis. According to the lawsuit, AIG's Q1 loss of $7.8B shocked investors because the insurance giant assured them that any losses on credit insurance "would be limited".
- Following speculation a Chinese entity would look to take a stake in Australian miner BHP Billiton Limited (NYSE: BHP), Huang Tianwen, the president of Sinosteel Corp, said the company has not formed a bid for the firm. The Australian reported that Chinese steel mills may look to buy into iron ore miner Fortescue Metals Group.
Tags: AIG, American International Group, AmericanInternationalGroup, BHP, bhp billiton, bhp billiton limited, bhp billiton ltd adr..., BhpBilliton, BhpBillitonLimited, BhpBillitonLtdAdr..., Chantix, crude oil, crude oil prices, CrudeOil, CrudeOilPrices, Fortescue Metals, FortescueMetals, Pension fund, PensionFund, PFE, pfizer, pfizer inc., PfizerInc., Sinosteel
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