Pfizer Settles Celebrex Lawsuit | May 7, 2012 Issue - Vol. 90 Issue 19 | Chemical & Engineering News
 
 
  • CORRECTION: This article was updated on May 16, 2012, with the correct structure for Celebrex.

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Volume 90 Issue 19 | p. 6 | News of The Week
Issue Date: May 7, 2012 | Web Date: May 4, 2012

Pfizer Settles Celebrex Lawsuit

Intellectual Property: Drug firm logs a $450 million charge
Department: Business
Keywords: patents, litigation, academic-industry partnerships, pharmaceuticals

Weeks before a scheduled trial, Pfizer and Brigham Young University have settled a six-year-old lawsuit brought by the university and Daniel L. Simmons, a BYU chemistry professor, over the cyclooxygenase-2, or COX-2, inhibitor that is the active ingredient in Pfizer’s Celebrex, the blockbuster painkiller.

Although the terms were not made public, Pfizer noted a $450 million charge in connection with the settlement in its first-quarter earnings report. The university is reported . . .

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