High Court Rejects Pfizer Appeal in Celebrex Case

     (CN) – The Supreme Court on Monday refused to take up Pfizer’s appeal seeking to derail a class action accusing the drug maker of falsely touting that its drug Celebrex was safer than traditional anti-inflammatory drugs.




     The justices’ refusal to hear the appeal leaves in place a 3rd Circuit decision reinstating a securities fraud class action against Pfizer and Pharmacia.
     The federal appeals court in Philadelphia had ruled that investors’ claims were not barred by the two-year statute of limitations, because investors had not been properly notified about the alleged fraud.
     “We conclude that investors are not put on inquiry notice of fraud when an apparently legitimate scientific dispute arises between the FDA and a pharmaceutical company,” Judge Maryanne Barry wrote, referring to FDA staff reports published in 2001. The first class action was filed in April 2003.
     The Supreme Court rejected Pfizer’s appeal without comment.

%d bloggers like this: