Pfizer arthritis drug rejected by European regulators

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A woman walks past the Pfizer Inc. headquarters in New York(Reuters) – European regulators declined to approve marketing of Pfizer Inc's new rheumatoid arthritis treatment Xeljanz, citing the risks of the drug compared with its potential benefit, the company said on Thursday. Pfizer said it plans to appeal and "immediately seek a re-examination of the opinion" by the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP). Shares of Pfizer, which rose 1 percent to close at $30.26 on the New York Stock Exchange, were down 2.7 percent at $29.45 after hours. …

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