Pfizer (NYSE: PFE) is facing a number of lawsuits that say its painkiller Celebrex can cause heart attacks. Yesterday, a court threw some of those cases out. The Wall Street Journal wrote "U.S. District Judge Charles R. Breyer of San Francisco ruled that plaintiffs in the litigation haven't presented scientifically reliable evidence that Celebrex caused heart attacks or strokes when taken at a daily dosage of 200 milligrams." Pfizer says that the 200 milligram dose is the one most commonly given.
The cases involving Celebrex include over 3,000 plantiffs, and some are suing about effects of the drug at a higher dose, but the ruling is still a considerable relief for the big pharma company.
Like most drug liability cases, this one hinges on whether Pfizer knew that there were risks that the drug could cause significant problems beyond those disclosed on the labels. In that case, the amount of the dose would seem to be academic, especially for anyone who became sick.
But the court may have more wisdom than Wall Street and some plaintiffs will go unrewarded. As the tobacco companies proved two decades ago, suing big business rarely yields much reward.
Douglas A. McIntyre is an editor at 247wallst.com.
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