Pfizer Shares Fall on Report of Celebrex Deaths
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Pfizer Inc.&#39;s shares fell as much as 6.2 percent on Thursday on a Canadian newspaper report linking its arthritis drug Celebrex to 14 deaths.
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TRENTON, N.J. -- Shares of drug maker Merck &amp; Co. dropped 2.5 percent in heavy trading yesterday, a day after medical journal reports offered fresh ammunition to patients suing over its withdrawn painkiller Vioxx.
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Shares of Pfizer Inc., the world's largest drugmaker, sank Monday on news that the company had halted development of a key new cholesterol treatment that was heralded as its engine for future growth as the company struggles with stagnant sales.
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Drug makers failed to bounce back from a Thursday slide, with many drug stocks closing down Friday as drug giant Pfizer Inc. and generic drug challenger Alpharma Inc.
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New prescriptions for Pfizer Inc.'s  arthritis drug Celebrex fell 56 percent last week after the  company released data showing the drug may increase the risk of  heart attacks and strokes, according to Verispan, a market  research company.
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Pfizer Inc., the world&#39;s biggest drugmaker, said it will stop advertising its Celebrex painkiller to consumers after a study showed the drug more than doubled the risk of heart attacks when given in high doses.
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Pfizer Inc.&#39;s (PFE.N: Quote, Profile, Research) shares fell as much as 6.2 percent on Thursday on a Canadian newspaper report linking its arthritis drug Celebrex to 14 deaths.
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Pfizer is pulling its radio, TV, newspaper and magazine advertising for Celebrex in the wake of a study that links high doses of the popular arthritis to an increased risk of heart attack, but the company plans to keep Celebrex on the market.
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Prudential Equity Group maintained a &quot;neutral weight&quot; rating on Pfizer (nyse: PFE - news - people ) after Canadian news reports surfaced linking its arthritis drug Celebrex with cardiovascular side effects.
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Pfizer shares plunged in blizzard-like trading volume Friday after the drugmaker said new data from cancer trials showed its arthritis drug Celebrex posed &quot;increased cardiovascular risk&quot; when used in high doses.
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Pfizer yesterday said new data showed the painkiller, Celebrex, more than doubled the risk of heart attacks, sending the US drugmaker&#39;s shares plunging.
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Some analysts are betting Pfizer Inc.  PFE.N won't have to withdraw its arthritis drug Celebrex but  they do expect sales to fall after a study of the drug in  cancer patients showed it increased the risk of heart attacks.
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Documents from Canadian health authorities show that Pfizer Inc.&#39;s painkiller Celebrex is suspected of contributing to at least 14 deaths and other heart and brain side effects, according to the National Post newspaper in Toronto.
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NEW YORK  - Drugs giant Pfizer Inc.&#39;s stock fell on a report that prescriptions for its blockbuster pain medication Celebrex slumped 56 percent last week.
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NEW YORK/OTTAWA  - Pfizer Inc. PFE.N said on  Thursday its arthritis drug Celebrex was safe after a report in  a Canadian newspaper linked it to 14 deaths,
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Pfizer Inc. says it will immediately pull advertising for its top-selling arthritis pain reliever Celebrex, whose safety was called into question last week after a study found an increased risk of heart attacks in patients taking high dosages of the drug.
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U.S. stocks closed lower on Friday,  weighed down by a number of negative reports from top drug  makers, including Pfizer Inc. PFE.N, and a $2 jump in the  price of crude oil.