The invalidation of a method of use patent could cost Pfizer $1 billion in revenues this year and $2 billion next year.
ABC News stated
Trading of Pfizer shares on the New York Stock Exchange was briefly
halted before the announcement. Shares closed at $31.98, down 44 cents,
or 1.4 percent, but still near Pfizer's 52-week high. In after-hours
trading, shares fell another 7 cents.
The case involves a "reissue patent" that prevented U.S. sales of
generic versions until Dec. 2, 2015. Last March, the U.S. Patent &
Trademark Office granted Pfizer the "reissue patent," which corrected
what Pfizer called technical deficiencies in the original patent
covering the diseases treated by the drug's active ingredient,
celecoxib. Those include acute and menstrual pain, rheumatoid and
osteoarthritis, and a painful spinal joint disorder called ankylosing
Pfizer to appeal invalidated Celebrex patent