Pfizer shares still buoyed by naproxen warning -- WorldTradeStocks.com

[ Show ]

Support VoyForums

[ Shrink ]

VoyForums Announcement: Programming and providing support for this service has been a labor of love since 1997. We are one of the few services online who values our users' privacy, and have never sold your information. We have even fought hard to defend your privacy in legal cases; however, we've done it with almost no financial support -- paying out of pocket to continue providing the service. Due to the issues imposed on us by advertisers, we also stopped hosting most ads on the forums many years ago. We hope you appreciate our efforts.

Show your support by donating any amount. (Note: We are still technically a for-profit company, so your contribution is not tax-deductible.) PayPal Acct: Feedback:

Donate to VoyForums (PayPal):

[ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, [2] ]

Subject:

Pfizer shares still buoyed by naproxen warning

Author:
Penicillin_blues

[ Next Thread | Previous Thread | Next Message | Previous Message ]

Date Posted: 14:15:42 12/22/04 Wed

Pfizer shares still buoyed by naproxen warning
By Laura Gilcrest
Last Updated: 12/22/2004 4:52:27 PM

WASHINGTON (CBS.MW) - Shares of New York-based drug firm Pfizer -- which were battered last week by Celebrex troubles -- jumped 2 percent Wednesday, riding on a wave of bad regulatory news for competing pain drug naproxen.

Pfizer (PFE) stock closed at $25.95, rising 4 percent..

The stock began a rally earlier in the week on word that the U.S. Food and Drug Administration had issued a warning of potential heart problems for naproxen, the active ingredient in a number of over-the-counter painkillers like Bayer's (PFE) Aleve.

The study that cast doubt on naproxen's cardiac safety also helped bolster the heart safety of Pfizer's beleaguered drug, Celebrex. Pfizer had cited the results of the study as proof that its Cox-2 inhibitor is safe if used properly.

The study -- sponsored by the National Institutes of Health -- was testing naproxen and other non-steroidal anti-inflammatory drugs in patients who are at risk of developing Alzheimer's disease.

Pfizer's shares had tumbled as much as 19 percent last week, when the company revealed that its top selling Cox-2 inhibitor drug Celebrex appeared to increase the risk of heart attack and stroke in patients taking the drug at high doses during a long-term study.

� 1997-2004 MarketWatch.com, Inc.

http://www.investors.com/breakingnews.asp?journalid=24717089&brk=1

[ Next Thread | Previous Thread | Next Message | Previous Message ]