BYU's lawsuit said a chemistry professor, Daniel Simmons, discovered the genetic workings of the drug in the early 1990s.
It accused Pfizer
of violating a research agreement the school made with predecessor companies.
As part of the settlement, BYU plans to endow a Dan Simmons Chair in recognition of his
lifelong work advancing human health.
"We are pleased to resolve this matter and the uncertainty of litigation and to be in a position to support Dr. Simmons' research efforts at BYU," Pfizer said in a brief statement.
Neither side would comment further.
In court filings, BYU
said it had a research agreement with Monsanto Co.
, later acquired by Pfizer
, for the development of a "super aspirin" - a drug that could reduce pain and inflammation without triggering gastrointestinal effects.
claimed to have discovered an enzyme that caused those side effects, and the new drug works to disable it.
According to BYU
research was critical in the development of Celebrex, yet Monsanto
and successor companies gave the chemistry professor no credit or compensation.
In court filings, Pfizer
claimed it met all of its obligations under the Monsanto agreement.
It argued BYU's lawsuit had no merit and that the school and Simmons
were trying to capitalize on the commercial success of Celebrex.
had claimed that Simmons
did not contribute to the development of the drug.