Generic Celebrex is coming
Teva and Pfizer have settled their Celebrex spat. Teva said in a statement Thursday that the settlement means generics of the pain med in 50mg, 100mg, 200mg and 400mg doses can hit the marketplace in December.
Last year's $3 billion in Celebrex sales represented a 7% increase in worldwide sales compared to 2012, largely supported by price increases and growth in the US.
Pfizer's fight to protect a 2015 patent extension ended last month when a court ruled a patent invalid.
Morningstar analyst Damien Conover told Reuters at the time he expected generics could cost Pfizer $1 billion in 2014.