The widely used drug Celebrex was defended by Pfizer and its original maker, but doubts were played down. A long-term study of the drug is scheduled to be completed in 2014, just as its patent protection expires.
ByDeep Dives:Pfizer, Inc. (PFE) reported earlier today that it had received a favorable ruling from the U.S. Patent & Trademark Office that effectively extends the patent protection of its painkiller Celebrex until 2015.
Pfizer Inc. (NYSE:PFE) is exploring the market to strike a suitable deal after recent changes in its acquisition targets. The company has $33 billion in cash and intends to bring back revenue growth on a year-over-year (YoY) basis through mergers and acquisitions. Pfizer’s revenue growth took a turn for the worse from FY11 onward, when the company reported a 2.7% YoY decline in revenue, which fell 16.2% YoY for FY12. Negative revenue growth is expected to continue until FY15.
By Syncopy Research:Teva Pharmaceuticals (TEVA) is the world's largest manufacturer of generic drugs. The firm is going through numerous challenges at the moment, among them being the exit of former CEO Jeremey Levin, poor third-quarter results, and, perhaps the biggest worry, the imminent loss of patent protection for its leading multiple sclerosis drug Copaxone in May 2014.
Bristol-Myers Squibb Co (NYSE:BMY) announced Thursday that the US Food and Drug Administration (FDA) has accepted its New Drug Application (NDA) for its experimental lead product candidate, daclatasvir, for use in combination with Gilead Sciences, Inc.’s (NASDAQ:GILD) Sovaldi, for the treatment of chronic hepatitis C virus (HCV) genotype 3.
Given the lack of breakthrough blockbuster drugs hitting the market, pharmaceutical companies have turned to large-scale mergers and acquisitions in order to create value for their investors. The most recent example is Pfizer Inc.’s (PFE) $100 billion offer to take over British pharmaceutical company AstraZeneca plc (ADR) (AZN).
A US federal court yesterday invalidated Pfizer Inc.’s (PFE) key patent covering its anti-inflammatory pill Celebrex. The patent, which was set to lapse in December 2015, would have given Pfizer an 18-month extension from the expiry of the patent for the major ingredient in the drug, celecoxib.
The Burrill Report submits: Pfizer (PFE) and Medivation (MDVN) said dimebon, their experimental drug to treat Alzheimer’s disease, failed in two late-stage clinical trials. Medivation’s stock, which had been trading at an all time high of $40.49 right before the news, tumbled nearly 70 percent to $13.04. In one trial, dimebon did not show statistical significance compared to placebo in measures of cognition and global function – the primary endpoints for the study.
By Ron Hiram:The U.S. Patent & Trademark Office has granted a reissue patent for Pfizer's (PFE) pain drug, Celebrex, extending the drug's patent protection by 18 months.  The patent extension will prevent cheap generic versions from entering the market and pave the way for continued growth in the drug's sales till 2015 end.
Pfizer (PFE) has found a way out of having to go to court against Brigham Young University regarding the issue of royalties allegedly wrongly withheld from the revenue of the drug Celebrex. Celebrex is a pain reliever that has been extremely successful since its entering the market. Brigham Young University was suing Pfizer because it felt that it had been cheated out of billions of dollars in royalties.