PHARMACEUTICALS

PFIZER MAY SELL CROWN JEWEL DRUG SOONER THAN THOUGHT The crown jewel in Pfizer’s research program, a new type of cholesterol drug the company says is key to future growth, may be sold in America years earlier than doctors and investors expect. Pfizer, the world’s biggest drugmaker, may get regulatory support to market its torcetrapib medicine as soon as 2008, about two years sooner than forecast. The company says it plans to seek early approval based on patient studies showing the drug can shrink the plaque in arteries that causes heart attacks and strokes, several research cardiologists said.

– Bloomberg News

HOUSEWARES

ONEIDA FILES CHAPTER 11 PLAN Oneida, which was once the world’s largest maker of stainless-steel flatware, has filed a pre-negotiated plan to reorganize under Chapter 11 bankruptcy protection that calls for the company to shed about $100 million in debt.

– Associated Press

IN BRIEF

Procter & Gamble, responding to a lawsuit brought by Pfizer against it over its mouthwash advertising, says Pfizer is lying to dentists about the effectiveness of mouthwashes … General Motors and Delphi may offer some United Auto Workers members as much as $35,000 to retire. … Wal-Mart Stores is being supported in its bid to open an industrial bank by the American Financial Services Association.

– Bloomberg News and Associated Press