The create function in app/code/core/Mage/Catalog/Model/Product/Api/V2.php in Magento Community Edition (CE) before 1.9.2.1 and Enterprise Edition (EE) before 1.14.2.1, when used with PHP before 5.4.24 or 5.5.8, allows remote authenticated users to execute arbitrary PHP code via the productData parameter to index.php/api/v2_soap.
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