Pfizer Survives Key Patent Test

Updated from 11:12 a.m. EDT

A British court on Wednesday declared a split decision for Pfizer's(PFE Quote) cholesterol fighter Lipitor, upholding the drug's main patent but declaring another patent invalid.

Pfizer was challenged by India's Ranbaxy Laboratories, a generic drugmaker that has filed patent challenges against Lipitor in several countries, including the U.S.

Shares of Pfizer were up 51 cents, or 2.1%, to $24.81 in heavy trading, thanks to a decision that will have more of a psychological impact on investors than a financial impact on the New York-based drug company. ...