Study Casts Doubt on Celebrex's Anti-Ulcer Properties

Updated from 3:02 p.m. EST

Pharmaceutical firms Pfizer (PFE Quote) and Pharmacia(PHA Quote) fell Thursday following a report that blockbuster arthritis drug Celebrex might be worse than expected at protecting the stomach from bleeding ulcers.

A study published in the New England Journal of Medicine said that contrary to some perceptions, patients at high risk for recurring bleeding ulcers taking Celebrex would be about as safe taking an older drug plus Prilosec. The study also found similar rates for kidney complications for both Celebrex and a combination of the older compound and Prilosec.

Pharmacia was down $2.02, or 4.7%, to $40.98, while Pfizer was off $1.36, or 4.3%, to $30.02. Pfizer announced in July it was acquiring Pharmacia in a $61 billion deal. ...