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Pfizer's last minute Celebrex news results in mixed stock indicators

December 17, 2004

Just prior to the start of the session, Pfizer Inc. announced one of two new studies showed its bestselling arthritis drug Celebrex caused increased risk of heart problems. Trading in Pfizer was delayed at the start of the session due to the last minute Celebrex news, and the Dow was expected to move lower once Pfizer was cleared to trade by the New York Stock Exchange.

Ever since Merck & Co. announced at the end of September that it was withdrawing its competing drug Vioxx from the market, the pharmaceutical sector has been under intense pressure. Pfizer has continued to maintain Celebrex is safe, but investors have been worried hidden health problems could be present.

Just following the Celebrex announcement, shares of Pfizer traded electronically fell $4.25, or 14.7 percent, to $24.73 prior to its official opening on the NYSE.

For more information on Celebrex warnings and the risk of heart attacks, please contact us to confer with a Celebrex Lawyer and learn your legal rights and options.

 

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