Shares of Pfizer surged this morning as investors celebrated a federal judge's ruling to rejected a patent challenge to the drug company's blockbuster cholesterol drug Lipitor. The federal court ruling is a setback for Ranbaxy, which had hoped to produce a cheaper generic version of Lipitor. Challenges remain, however, as Pfizer struggles to replace billions of dollars lost to generic competition.
- see this article from the Financial Times for more
ALSO: Health Canada has ruled that Pfizer's controversial painkiller Bextra will not be allowed back into the country. Report