Pfizer pays over €350m in compo

The world’s largest drugmaker Pfizer has agreed to pay €353.18m to resolve personal-injury claims against a subsidiary that sold products containing asbestos in the 1970s.

The settlement will result in a third-quarter charge of $229m, New York-based Pfizer said. Quigley, the subsidiary Pfizer bought in 1968, filed for bankruptcy protection in the US Court in Manhattan yesterday. Quigley at one time made materials used to coat steel-making equipment.