Novel chemical conjugates derived from unsaturated fatty acids and therapeutically active agents, are disclosed. The chemical conjugates are designed and characterized as COX-2 and/or 5-LOX inhibitors and are useful in the treatment of in flammatory diseases and disorders such as Alzheimers disease, Parkinsons disease, asthma, osteoarthritis, rheumatoid arthritis, pain, primary dysmenorrhea, Crohns disease and ulcerative colitis.