Friday, December 17, 2004

Celebrex taking a whipping?

Relevant to earlier postings on Vioxx and COX-2 inhibitors, note the following from Reuters:

-->A furious sell-off in shares of Pfizer Inc. on December 17, 2004 after a trial of its arthritis drug Celebrex was halted due to the risk of heart attack may be premature, said some investors who own the widely held stock.
Many investors sold shares on hearing news of a study sponsored by the National Cancer Institute that showed patients taking Celebrex had twice as many heart attacks as those taking placebos.
The stock plunged 18.8 percent when trading opened on the Big Board, but pared early losses to close down 11.2 percent. Some investors didn't fold, and took a wait-and-see stance.<--


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