Pfizer wins in Canadian appeals court |
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Published
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Mon, 30 Apr 2007 22:40
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NEW YORK (AP) - Pfizer Inc. said Monday a Canadian appeals court blocked release in that country of generic Celebrex by Novopharm, the Canadian unit of Israeli-based Teva Pharmaceutical Industries Ltd.The ruling by the Federal Court of Appeal of Canada reverses a prior Canadian court ruling and prohibits the sale of a generic version of Pfizer's anti-inflammatory painkiller until its patent expires in 2014.Novopharm could appeal the decision to Canada's Supreme Court.It isn't the first time Pfizer has prevailed in Canadian courts. In December, a court blocked Novopharm's efforts to sell Canadians a generic version of Pfizer's Lipitor, the cholesterol-reducing medication.Shares of Pfizer rose 4 cents to $26.50 in after-hours trading and ended the day 15 cents lower at $26.46 on the New York Stock Exchange. U.S.-traded shares of Teva fell 70 cents to close at $38.31 on the Nasdaq Stock Market.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Appeals court reverses patent ruling 