Pfizer Inc. is facing a lawsuit over Celebrex, Bextra safety after the case was sent back to the lower court, 12 years after. The class-action lawsuit alleged that Pfizer caused millions of dollars of losses for the shareholders following the company's misrepresentation of the risks associated with the pain reliever drugs, Celebrex and Bextra.
Pfizer's lawsuit claims that the drug company's officials concealed the facts about the research that tells that Celebrex and Bextra could bring increased risks of strokes and heart attacks, BOL BNA reported. U.S. District Judge Laura Taylor Swain of Manhattan dismissed Pfizer's lawsuit after concluding that the investors couldn't provide significant claims on their losses and amount of damages. On Tuesday, in a 3-0 vote, the 2nd U.S. Circuit Court of Appeals in Manhattan claimed that Swain committed a mistake for dismissing the case.
"Plaintiffs' theory is directly contrary to this idea: they argue that Pfizer is liable for all of the artificial inflation related to Celebrex and Bextra because, through its own fraudulent conduct, Pfizer concealed the same information as its predecessors," Circuit Judge Debra Ann Livingston said.
Reuters reports the judges found Swain prevented a former University of Chicago Law School Dean from testifying as a shareholder about the potential damages of the drugs. Swain was also allegedly wrong in concluding that Pfizer is not liable for the claims made by G. D. Searle & Co and Pharmacia Corp, the makers of Celebrex and Bextra. The manufacturers earlier hidden the cardiovascular effects of the drugs. Pfizer's lawsuit started in 2004.
The issues on Celebrex and Bextra safety emerged after Pfizer's competitor, Merck & Co pulled out their Vioxx drug after finding that it poses cardiovascular threats, according to Yahoo. Pfizer withdrew Bextra from the U.S. market in April 2005. Four years later, Pfizer settled the marketing of drugs, including Bextra in a $2.3 billion deal with the U.S. Department of Justice.
Pfizer's lawsuit is now sent back to U.S. District Judge Laura Taylor Swain in Manhattan. A rep for the New York-based company claimed that Pfizer was disappointed with the court's decision, but reinstated that the judges didn't dismiss all Swain's rulings.
