Tag Archives: Bextra
Stock market investors aren’t happy campers tonight, with the major indexes closing the session at fresh 2005 lows. More selling appears likely at tomorrow’s open on the heels of this afternoon’s wet-blanket earnings report from technology bellwether IBM. But is the world coming to an end? Hardly.
More and more, it’s looking as if the worst is over for the pharmaceutical industry — and especially for the 800-pound gorilla, Pfizer (NYSE: PFE). Last Friday, a Food & Drug Administration advisory panel voted overwhelmingly (31-1) to recommend keeping PFE’s painkiller Celebrex on the market. The same panel also voted, by a slimmer (17-13) margin, to advise the FDA to allow continued sales of Pfizer’s other controversial cox-2 painkiller, Bextra.