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Issue 20, 2012 - Pfizer and BYU reach settlement over Celebrex litigation

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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Pfizer and Brigham Young University (BYU) filed a six-year lawsuit against cyclooxygenase-2, the active ingredient in Pfizer's painkiller Celebrex, filed by BYU and Daniel L.
Simmon
, a chemistry professor at the university.

Although the incident was not made public, Pfizer recorded $450 million in charges
related to the settlement in its first-quarter financial statements.
Previously, BYU offered to claim 15% of Celebrau's sales from the beginning to date as a royalty, which is close to $10 billion
.

As part of the solution, BYU will establish the Dan Simmons Forum to recognize Simmons' life's work and contributions
to advancing human health in areas such as oncology and Alzheimer's.
BYU was pleased with the settlement, which Simmons did not comment
.
(Li Wei)

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