Pfizer Loses Patent On Celebrex, Plans To Appeal
Big pharma Pfizer (PFE) briefly halted trading Wednesday afternoon to announce that a patent on best-selling arthritis drug Celebrex had been invalidated by a district court. When trading resumed, shares were down nearly 1% in the stock market today. Pfizer had sued five makers of generic drugs — Teva Pharmaceutical Industries (TEVA), Mylan (MYL), Watson Laboratories (now part of Actavis (ACT), Lupin Pharmaceuticals and Apotex — that were angling