A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of numbers or a combination of both. "Ticker symbol" refers to the symbols. Stock symbols are unique identifiers assigned to each security traded on a particular market. A stock symbol can consist of letters, numbers, or a combination of both, is a way to uniquely identify that stock; the symbols were kept as short as possible to reduce the number of characters that had to be printed on the ticker tape, to make it easy to recognize by traders and investors. The allocation of symbols and formatting convention is specific to each stock exchange. In the US, for example, stock tickers are between 1 and 4 letters and represent the company name where possible. For example, US-based computer company stock Apple Inc. traded on the NASDAQ exchange has the symbol AAPL, while the motor company Ford's stock, traded on the New York Stock Exchange has the single-letter ticker F.
In Europe, most exchanges use three-letter codes, for example Dutch consumer goods company Unilever traded on the Amsterdam Euronext exchange has the symbol UNA. While in Asia, numbers are used as stock tickers to avoid issues for international investors when using non-Latin scripts. For example, the bank HSBC's stock traded on the Hong Kong Stock Exchange has the ticker symbol 0005. Symbols sometimes change to reflect mergers. Prior to the 1999 merger with Mobil Oil, Exxon used a phonetic spelling of the company "XON" as its ticker symbol; the symbol of the firm after the merger was "XOM". Symbols are sometimes reused. In the US the single-letter symbols are sought after as vanity symbols. For example, since Mar 2008 Visa Inc. has used the symbol V, used by Vivendi which had delisted and given up the symbol. To qualify a stock, both the ticker and the exchange or country of listing needs to be known. On many systems both must be specified to uniquely identify the security; this is done by appending the location or exchange code to the ticker.
Although stock tickers identify a security, they are exchange dependent limited to stocks and can change. These limitations have led to the development of other codes in financial markets to identify securities for settlement purposes; the most prevalent of these is the International Securities Identifying Number. An ISIN uniquely identifies a security and its structure is defined in ISO 6166. Securities for which ISINs are issued include bonds, commercial paper and warrants; the ISIN code is a 12-character alpha-numerical code that does not contain information characterizing financial instruments, but serves for uniform identification of a security at trading and settlement. The ISIN identifies not the exchange on which it trades. For instance, Daimler AG stock trades on twenty-two different stock exchanges worldwide, is priced in five different currencies. ISIN cannot specify a particular trade in this case, another identifier the three- or four-letter exchange code will have to be specified in addition to the ISIN.
While a stock ticker identifies a security that can be traded, stock market indices are sometimes assigned a symbol though they can not be traded. Symbols for indices are distinguished by adding a symbol in front of the name, such as a caret or a dot. For example, Reuters lists the Nasdaq Composite index under the symbol. IXIC. In Canada the Toronto Stock Exchange TSX and the TSXV use the following special codes after the ticker symbol: In the United Kingdom, prior to 1996, stock codes were known as EPICs, named after the London Stock Exchange's Exchange Price Information Computer. Following the introduction of the Sequence trading platform in 1996, EPICs were renamed Tradable Instrument Display Mnemonics, but they are still referred to as EPICs. Stocks can be identified using their SEDOL number or their ISIN. In the United States, modern letter-only ticker symbols were developed by Standard & Poor's to bring a national standard to investing. A single company could have many different ticker symbols as they varied between the dozens of individual stock markets.
The term ticker refers to the noise made by the ticker tape machines once used by stock exchanges. The S&P system was standardized by the securities industry and modified as years passed. Stock symbols for preferred stock have not been standardized; some companies use a well-known product as their ticker symbol. Belgian brewer InBev, the brewer of Budweiser beer, uses "BUD" as its three-letter ticker for American Depository Receipts, symbolizing its premier product in the United States, its rival, Molson Coors Brewing Company, uses a beer-related symbol, "TAP". Southwest Airlines pays tribute to its headquarters at Love Field in Dallas through its "LUV" symbol. Cedar Fair Entertainment Company, which operates large amusement parks in the United States, uses "FUN" as its symbol. Harley-Davidson uses "HOG" for its Harley Owners Group. Yamana Gold uses "AUY", because on the periodic table of elements. Sotheby's uses the symbol "BID". While most symbols come from the company's name, sometimes it happens the other way around.
Tricon Global, owner of KFC, Pi
Picture archiving and communication system
A picture archiving and communication system is a medical imaging technology which provides economical storage and convenient access to images from multiple modalities. Electronic images and reports are transmitted digitally via PACS; the universal format for PACS image storage and transfer is DICOM. Non-image data, such as scanned documents, may be incorporated using consumer industry standard formats like PDF, once encapsulated in DICOM. A PACS consists of four major components: The imaging modalities such as X-ray plain film, computed tomography and magnetic resonance imaging, a secured network for the transmission of patient information, workstations for interpreting and reviewing images, archives for the storage and retrieval of images and reports. Combined with available and emerging web technology, PACS has the ability to deliver timely and efficient access to images and related data. PACS reduces the physical and time barriers associated with traditional film-based image retrieval and display.
Most PACSs handle images from various medical imaging instruments, including ultrasound, magnetic resonance, Nuclear Medicine imaging, positron emission tomography, computed tomography, mammograms, digital radiography, phosphor plate radiography, ophthalmology, etc. Additional types of image formats are always being added. Clinical areas beyond radiology. PACS has four main uses: Hard copy replacement: PACS replaces hard-copy based means of managing medical images, such as film archives. With the decreasing price of digital storage, PACSs provide a growing cost and space advantage over film archives in addition to the instant access to prior images at the same institution. Digital copies are referred to as Soft-copy. Remote access: It expands on the possibilities of conventional systems by providing capabilities of off-site viewing and reporting, it enables practitioners in different physical locations to access the same information for teleradiology. Electronic image integration platform: PACS provides the electronic platform for radiology images interfacing with other medical automation systems such as Hospital Information System, Electronic Medical Record, Practice Management Software, Radiology Information System.
Radiology Workflow Management: PACS is used by radiology personnel to manage the workflow of patient exams. PACS is offered by all the major medical imaging equipment manufacturers, medical IT companies and many independent software companies. Basic PACS software can be found free on the Internet; the architecture is the physical implementation of required functionality, or what one sees from the outside. There are different views, depending on the user. A radiologist sees a viewing station, a technologist a QA workstation, while a PACS administrator might spend most of their time in the climate-controlled computer room; the composite view is rather different for the various vendors. A PACS consists of a multitude of devices; the first step in typical PACS systems is the modality. Modalities are computed tomography, nuclear medicine, positron emission tomography, magnetic resonance imaging. Depending on the facility's workflow most modalities send to a quality assurance workstation or sometimes called a PACS gateway.
The QA workstation is a checkpoint to make sure patient demographics are correct as well as other important attributes of a study. If the study information is correct the images are passed to the archive for storage; the central storage device stores images and in some cases reports and other information that resides with the images. The next step in the PACS workflow is the reading workstations; the reading workstation is where the radiologist reviews the patient's study and formulates their diagnosis. Tied to the reading workstation is a reporting package that assists the radiologist with dictating the final report. Reporting software is optional and there are various ways in which doctors prefer to dictate their report. Ancillary to the workflow mentioned, there is CD/DVD authoring software used to burn patient studies for distribution to patients or referring physicians; the diagram above shows a typical workflow in most imaging hospitals. Note that this section does not cover integration to a Radiology Information System, Hospital Information System and other such front-end system that relates to the PACS workflow.
Texas is the second largest state in the United States by both area and population. Geographically located in the South Central region of the country, Texas shares borders with the U. S. states of Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, the Mexican states of Chihuahua, Nuevo León, Tamaulipas to the southwest, while the Gulf of Mexico is to the southeast. Houston is the most populous city in Texas and the fourth largest in the U. S. while San Antonio is the second-most populous in the state and seventh largest in the U. S. Dallas–Fort Worth and Greater Houston are the fourth and fifth largest metropolitan statistical areas in the country, respectively. Other major cities include Austin, the second-most populous state capital in the U. S. and El Paso. Texas is nicknamed "The Lone Star State" to signify its former status as an independent republic, as a reminder of the state's struggle for independence from Mexico; the "Lone Star" can be found on the Texan state seal.
The origin of Texas's name is from the word taysha. Due to its size and geologic features such as the Balcones Fault, Texas contains diverse landscapes common to both the U. S. Southern and Southwestern regions. Although Texas is popularly associated with the U. S. southwestern deserts, less than 10% of Texas's land area is desert. Most of the population centers are in areas of former prairies, grasslands and the coastline. Traveling from east to west, one can observe terrain that ranges from coastal swamps and piney woods, to rolling plains and rugged hills, the desert and mountains of the Big Bend; the term "six flags over Texas" refers to several nations. Spain was the first European country to claim the area of Texas. France held a short-lived colony. Mexico controlled the territory until 1836 when Texas won its independence, becoming an independent Republic. In 1845, Texas joined the union as the 28th state; the state's annexation set off a chain of events that led to the Mexican–American War in 1846.
A slave state before the American Civil War, Texas declared its secession from the U. S. in early 1861, joined the Confederate States of America on March 2nd of the same year. After the Civil War and the restoration of its representation in the federal government, Texas entered a long period of economic stagnation. Four major industries shaped the Texas economy prior to World War II: cattle and bison, cotton and oil. Before and after the U. S. Civil War the cattle industry, which Texas came to dominate, was a major economic driver for the state, thus creating the traditional image of the Texas cowboy. In the 19th century cotton and lumber grew to be major industries as the cattle industry became less lucrative, it was though, the discovery of major petroleum deposits that initiated an economic boom which became the driving force behind the economy for much of the 20th century. With strong investments in universities, Texas developed a diversified economy and high tech industry in the mid-20th century.
As of 2015, it is second on the list of the most Fortune 500 companies with 54. With a growing base of industry, the state leads in many industries, including agriculture, energy and electronics, biomedical sciences. Texas has led the U. S. in state export revenue since 2002, has the second-highest gross state product. If Texas were a sovereign state, it would be the 10th largest economy in the world; the name Texas, based on the Caddo word táyshaʼ "friend", was applied, in the spelling Tejas or Texas, by the Spanish to the Caddo themselves the Hasinai Confederacy, the final -s representing the Spanish plural. The Mission San Francisco de los Tejas was completed near the Hasinai village of Nabedaches in May 1690, in what is now Houston County, East Texas. During Spanish colonial rule, in the 18th century, the area was known as Nuevo Reino de Filipinas "New Kingdom of the Philippines", or as provincia de los Tejas "province of the Tejas" also provincia de Texas, "province of Texas", it was incorporated as provincia de Texas into the Mexican Empire in 1821, declared a republic in 1836.
The Royal Spanish Academy recognizes both spellings and Texas, as Spanish-language forms of the name of the U. S. State of Texas; the English pronunciation with /ks/ is unetymological, based in the value of the letter x in historical Spanish orthography. Alternative etymologies of the name advanced in the late 19th century connected the Spanish teja "rooftile", the plural tejas being used to designate indigenous Pueblo settlements. A 1760s map by Jacques-Nicolas Bellin shows a village named Teijas on Trinity River, close to the site of modern Crockett. Texas is the second-largest U. S. state, with an area of 268,820 square miles. Though 10% larger than France and twice as large as Germany or Japan, it ranks only 27th worldwide amongst country subdivisions by size. If it were an independent country, Texas would be the 40th largest behind Zambia. Texas is in the south central part of the United States of America. Three of its borders are defined by rivers; the Rio Grande forms a natural border with the Mexican states of Chihuahua, Nuevo León, Tamaulipas to the south.
The Red River forms a natural border with Arkansas to the north. The Sabine River forms a natural border with Louisiana to the east; the Texas Panhandle has an eastern border with Oklahoma at 100° W, a northern border with Oklahoma at 36°30' N and a western
Pharmacy automation involves the mechanical processes of handling and distributing medications. Any pharmacy task may be involved, including counting small objects; this article focuses on the changes that have taken place in the local, or community Pharmacy since the 1960s. Dispensing medications in a community pharmacy before the 1970s was a time-consuming operation; the pharmacist dispensed prescriptions in capsule form with a simple tray and spatula. Many new medications were developed by pharmaceutical manufacturers at an ever-increasing pace, medications prices were rising steeply. A typical community pharmacist was working longer hours and forced to hire staff to handle increased workloads which resulted in less time to focus on safety issues; these additional factors led to use of a machine to count medications. The original electronic portable digital tablet counting technology was invented in Manchester, England between 1967 and 1970 by the brothers John and Frank Kirby. I had the original idea of how the machine would work and it was my patent, but it was a joint effort getting it to work in a saleable form.
It was 3 years of hard work. I had studied heavy electrical engineering before changing over to Medical School and qualifying as a Medical Doctor in 1968. In fact I was Senior House Officer in 1970 at North Manchester General Hospital when I filed the patent. I must have been the only hospital doctor in Britain with an oscilloscope, a soldering iron and a drawing board in his room in the Doctors’ Residence; the housekeepers were bemused by all the wires. Frank trained as a Banker but quit to take a job with a local electronics firm during the development, he died in a terrible loss. Frank and John Kirby and their associate Rodney Lester were pioneers in pharmacy automation and small-object counting technology. In 1967, the Kirbys invented a portable digital tablet counter to count capsules. With Lester they formed a limited company. In 1970, their invention was put into production in Oldham, England; the tablet counter aided the pharmacy industry with time-consuming manual counting of drug prescriptions.
A counting machine counted medications and quickly. This aspect of pharmacy automation was adopted, innovations emerged every decade to aid the pharmacy industry to deliver medications safely, economically. Modern pharmacies have many new options to improve their workflow by using the new technology, can choose intelligently from the many options available. On 1 January 1971 commercial production of the first portable digital tablet counters in the World began. John Kirby had filed U. K. Patent number GB1358378 on 8 September 1970 and U. S. patent number 3789194 on 9 August 1971. These early electronic counters were designed to help pharmacies replace the common practice of counting medications by hand. In 1975, the digital technology was exported to America. In early 1980 a dedicated research and production facility was built in Oldham, England at a cost of £500,000. Between 1982 and 1983, two separate development facilities had been created. In America, overseen by Rodney Lester. In 1987, Frank Kirby died.
In 1989, John Kirby moved his UK facility to England. A simple to operate machine had been developed to and count prescription medications. Technology improvements soon resulted in a more compact model; the price of such equipment in 1980 was around £1,300. This substantial investment in new technology was a major financial consideration, but the pharmacy community considered the use of a counting machine as a superior method compared to hand-counting medications; these early devices became known as capsule counter, pill counter, or drug counter. The new counting technology replaced manual methods in many industries such as, vitamin and diet supplement manufacturing. Technicians needed a affordable device to count and bottle medications. In England and America, the 1980s and 1990s saw new the development of high-speed machines for counting and bottle filling, Like their pharmacy-based counterparts, these industrial units were designed to be fast and simple to operate, yet remain small and cost effective.
In America, in the late 1990s/early 2000s a new type of tablet counter appeared. It was simple to use, compact and had good counting accuracy. At the turn of the millennium technical advances allowed the design of counters with a software verification system. With an onboard computer, displaying photo images of medications to assist the pharmacist or pharmacy technician to verify that the correct medication was being dispensed. In addition, a database for storing all prescriptions that were counted on the device. Between September 2005 and May 2007, an American company undertook major financial investment, relocated; this move added extra space for development facility. It allowed the opportunity to develop new advanced technology products that met the pharmacy’s needs for simple and cost-effective ways to dispense prescriptions safely. Pictured here is an early American type of integrated packaging device; this machine was a third generation step in the evolution of pharmacy automated devices.
Models held pre-counted containers of commonly-prescribed medications. In the EU me
New York Stock Exchange
The New York Stock Exchange is an American stock exchange located at 11 Wall Street, Lower Manhattan, New York City, New York. It is by far the world's largest stock exchange by market capitalization of its listed companies at US$30.1 trillion as of February 2018. The average daily trading value was US$169 billion in 2013; the NYSE trading floor is located at 11 Wall Street and is composed of 21 rooms used for the facilitation of trading. A fifth trading room, located at 30 Broad Street, was closed in February 2007; the main building and the 11 Wall Street building were designated National Historic Landmarks in 1978. The NYSE is owned by Intercontinental Exchange, an American holding company that it lists, it was part of NYSE Euronext, formed by the NYSE's 2007 merger with Euronext. The NYSE has been the subject of several lawsuits regarding fraud or breach of duty and in 2004 was sued by its former CEO for breach of contract and defamation; the earliest recorded organization of securities trading in New York among brokers directly dealing with each other can be traced to the Buttonwood Agreement.
Securities exchange had been intermediated by the auctioneers who conducted more mundane auctions of commodities such as wheat and tobacco. On May 17, 1792 twenty four brokers signed the Buttonwood Agreement which set a floor commission rate charged to clients and bound the signers to give preference to the other signers in securities sales; the earliest securities traded were governmental securities such as War Bonds from the Revolutionary War and First Bank of the United States stock, although Bank of New York stock was a non-governmental security traded in the early days. The Bank of North America along with the First Bank of the United States and the Bank of New York were the first shares traded on the New York Stock Exchange. In 1817 the stockbrokers of New York operating under the Buttonwood Agreement instituted new reforms and reorganized. After sending a delegation to Philadelphia to observe the organization of their board of brokers, restrictions on manipulative trading were adopted as well as formal organs of governance.
After re-forming as the New York Stock and Exchange Board the broker organization began renting out space for securities trading, taking place at the Tontine Coffee House. Several locations were used between 1865, when the present location was adopted; the invention of the electrical telegraph consolidated markets, New York's market rose to dominance over Philadelphia after weathering some market panics better than other alternatives. The Open Board of Stock Brokers was established in 1864 as a competitor to the NYSE. With 354 members, the Open Board of Stock Brokers rivaled the NYSE in membership "because it used a more modern, continuous trading system superior to the NYSE’s twice-daily call sessions." The Open Board of Stock Brokers merged with the NYSE in 1869. Robert Wright of Bloomberg writes that the merger increased the NYSE's members as well as trading volume, as "several dozen regional exchanges were competing with the NYSE for customers. Buyers and dealers all wanted to complete transactions as and cheaply as technologically possible and that meant finding the markets with the most trading, or the greatest liquidity in today’s parlance.
Minimizing competition was essential to keep a large number of orders flowing, the merger helped the NYSE to maintain its reputation for providing superior liquidity." The Civil War stimulated speculative securities trading in New York. By 1869 membership had to be capped, has been sporadically increased since; the latter half of the nineteenth century saw rapid growth in securities trading. Securities trade in the latter nineteenth and early twentieth centuries was prone to panics and crashes. Government regulation of securities trading was seen as necessary, with arguably the most dramatic changes occurring in the 1930s after a major stock market crash precipitated the Great Depression; the Stock Exchange Luncheon Club was situated on the seventh floor from 1898 until its closure in 2006. The main building, located at 18 Broad Street, between the corners of Wall Street and Exchange Place, was designated a National Historic Landmark in 1978, as was the 11 Wall Street building; the NYSE announced its plans to merge with Archipelago on April 21, 2005, in a deal intended to reorganize the NYSE as a publicly traded company.
NYSE's governing board voted to merge with rival Archipelago on December 6, 2005, became a for-profit, public company. It began trading under the name NYSE Group on March 8, 2006. A little over one year on April 4, 2007, the NYSE Group completed its merger with Euronext, the European combined stock market, thus forming NYSE Euronext, the first transatlantic stock exchange. Wall Street is the leading US money center for international financial activities and the foremost US location for the conduct of wholesale financial services. "It comprises a matrix of wholesale financial sectors, financial markets, financial institutions, financial industry firms". The principal sectors are securities industry, commercial banking, asset management, insurance. Prior to the acquisition of NYSE Euronext by the ICE in 2013, Marsh Carter was the Chairman of the NYSE and the CEO was Duncan Niederauer. Presently, the chairman is Jeffrey Sprecher. In 2016, NYSE owner Intercontinental Exchange Inc. earned $419 million in listings-related revenues.
The exchange was closed shortly after the beginning of World War I, but it re-opened on November 28 of that year in order to help the war effort by trading bonds, reopened for stock tradin
Wholesaling or distributing is the sale of goods or merchandise to retailers. In general, it is the sale of goods to anyone other than a standard consumer. According to the United Nations Statistics Division, wholesale is the resale of new and used goods to retailers, to industrial, institutional or professional users, or to other wholesalers, or involves acting as an agent or broker in buying merchandise for, or selling merchandise to, such persons or companies. Wholesalers physically assemble and grade goods in large lots, break bulk and redistribute in smaller lots. While wholesalers of most products operate from independent premises, wholesale marketing for foodstuffs can take place at specific wholesale markets where all traders are congregated. Traditionally, wholesalers were closer to the markets they supplied than the source from which they got the products. However, with the advent of the internet and e-procurement there are an increasing number of wholesalers located nearer to the manufacturers in China and Southeast Asia.
In the banking industry "wholesale" refers to wholesale banking, providing tailored services to large customers, in contrast with retail banking, providing standardized services to large numbers of smaller customers. In the United States, wholesalers are not required to charge their buyers sales tax, if the buyer has a resale license in the state the wholesaler is located. Out of state buyers are not charged sale tax by wholesalers; the alternative to selling wholesale to distributors or retailers is to sell retail either through company-owned stores or online. Advantages include receiving a larger slice of the price paid by the consumer. Top U. S wholesalers according to csnews report in 2012. Cash and carry Distribution Jobbing house Supply chain Supply network Business-to-business
Pfizer Inc. is an American multinational pharmaceutical corporation headquartered in New York City, with its research headquarters in Groton, Connecticut. It is one of the world's largest pharmaceutical companies, it is listed on the New York Stock Exchange, its shares have been a component of the Dow Jones Industrial Average since 2004. Pfizer ranked No. 57 on the 2018 Fortune 500 list of the largest United States corporations by total revenue. On December 19, 2018, Pfizer announced a joint merger of their consumer healthcare division with UK pharma giant GlaxoSmithKline; the company develops and produces medicines and vaccines for a wide range of medical disciplines, including immunology, cardiology and neurology. Its products include the blockbuster drug Lipitor, used to lower LDL blood cholesterol. In 2016, Pfizer Inc. was expected to merge with Allergan, Plc to create the Ireland-based "Pfizer plc" in a deal that would have been worth $160 billion. The merger was called off in April 2016, because of new rules from the United States Treasury against tax inversions, a method of avoiding taxes by merging with a foreign company.
The company has made the second-largest pharmaceutical settlement with the United States Department of Justice. Pfizer was founded in 1849 by German-American Charles Pfizer and his cousin Charles F. Erhart from Ludwigsburg, Germany, they launched the chemicals business Charles Pfizer and Company from a building at the intersection of Harrison Avenue and Bartlett Street in Williamsburg, where they produced an antiparasitic called santonin. This was an immediate success, although it was the production of citric acid that kick-started Pfizer's growth in the 1880s. Pfizer continued to buy property to expand its lab and factory on the block bounded by Bartlett Street, Harrison Avenue, Gerry Street, Flushing Avenue. Pfizer's original administrative headquarters was at 81 Maiden Lane in Manhattan. By 1906, sales totaled $3.4 million. World War I caused a shortage of calcium citrate which Pfizer imported from Italy for the manufacture of citric acid, the company began a search for an alternative supply.
Pfizer chemists learned of a fungus that ferments sugar to citric acid, they were able to commercialize production of citric acid from this source in 1919, the company developed expertise in fermentation technology as a result. These skills were applied to the mass production of the antibiotic penicillin during World War II in response to the need to treat injured Allied soldiers. Penicillin became inexpensive in the 1940s, Pfizer searched for new antibiotics with greater profit potential, they discovered Terramycin in 1950, this changed the company from a manufacturer of fine chemicals to a research-based pharmaceutical company. Pfizer developed a drug discovery program focusing on in vitro synthesis in order to augment its research in fermentation technology; the company established an animal health division in 1959 with an 700-acre farm and research facility in Terre Haute, Indiana. By the 1950s, Pfizer had established offices in Belgium, Canada, Mexico, Puerto Rico, the United Kingdom. In 1960, the company moved its medical research laboratory operations out of New York City to a new facility in Groton, Connecticut.
In 1980, they launched Feldene, a prescription anti-inflammatory medication that became Pfizer's first product to reach one billion dollars in total sales. During the 1980s and 1990s, Pfizer Corporation growth was sustained by the discovery and marketing of Zoloft, Norvasc, Aricept and Viagra. In this decade, Pfizer grew by mergers, including those with Warner–Lambert and Wyeth. In 2003, the company acquired Esperion Therapeutics for $1.3 billion, protecting Lipitor from ETC-216. In 2004, Pfizer announced. In 2005, the company made a number of acquisitions: Vicuron Pharmaceuticals for $1.9 billion, Idun for just less than $300 million and Angiosyn for $527 million. On June 26, 2006, Pfizer announced it would sell its Consumer Healthcare unit to Johnson & Johnson for $16.6 billion. Development of torcetrapib, a drug that increases production of HDL, or "good cholesterol", which reduces LDL thought to be correlated to heart disease, was cancelled in December 2006. During a Phase III clinical trial involving 15,000 patients, more deaths occurred in the group that took the medicine than expected, a sixty percent increase in mortality was seen among patients taking the combination of torcetrapib and Lipitor versus Lipitor alone.
Lipitor alone was not implicated in the results, but Pfizer lost nearly $1 billion developing the failed drug and the market value of the company plummeted afterwards. The company announced it would acquire Powermed and Rivax. In September 2009, Pfizer pleaded guilty to the illegal marketing of the arthritis drug Bextra for uses unapproved by the U. S. Food and Drug Administration, agreed to a $2.3 billion settlement, the largest health care fraud settlement at that time. A July 2010 article in BusinessWeek reported that Pfizer was seeing more success in its battle against makers of counterfeit prescription drugs by pursuing c