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US high court allows securities fraud lawsuit over Pfizer's Celebrex

This article was originally published in Scrip

Executive Summary

The US Supreme Court has declined to hear an appeal from Pfizer challenging the timeliness of a federal securities class action lawsuit in which investors claimed that the company, its Pharmacia unit and certain of Pharmacia's former officers made material misrepresentations regarding the results of a landmark clinical study concerning its COX-2 inhibitor, Celebrex (celecoxib), to make its gastrointestinal safety appear better than other arthritis drugs.

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