First Vioxx win lifts Merck, but legal costs mount- The Economic Times
First Vioxx win lifts Merck, but legal costs mount- The Economic Times: "First Vioxx win lifts Merck, but legal costs mount
LINDA A JOHNSON
AP[ SATURDAY, NOVEMBER 05, 2005 03:09:50 AM]
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NEW JERSEY :Merck�s first victory in the massive litigation over its painkiller Vioxx gives the pharmaceutical company a psychological lift and a short-term stock boost, and also plenty of uncertainty as it still faces thousands of future lawsuits.
What is certain, given Merck�s repeated assertions that it will fight the thousands of Vioxx suits one by one, is that the world�s fifth-biggest drug maker will spend hundreds of millions of dollars to defend itself as legal costs mount.
Barbara Ryan, pharmaceuticals analyst at Deutsche Bank North America, estimated the New Jersey-based company�s liability over Vioxx at $15bn to $30bn on Thursday, shortly after a state Superior Court jury in Atlantic City found Merck properly warned consumers about risks with Vioxx and was not liable for an Idaho man�s �01 heart attack.
�I do think that Merck has a good defense in the litigation,� she said. �It�s still going to be a marathon.� The verdict came two-and-a-half months after Merck loss a Vioxx case in Texas. "
LINDA A JOHNSON
AP[ SATURDAY, NOVEMBER 05, 2005 03:09:50 AM]
NRI Special Offer!
NEW JERSEY :Merck�s first victory in the massive litigation over its painkiller Vioxx gives the pharmaceutical company a psychological lift and a short-term stock boost, and also plenty of uncertainty as it still faces thousands of future lawsuits.
What is certain, given Merck�s repeated assertions that it will fight the thousands of Vioxx suits one by one, is that the world�s fifth-biggest drug maker will spend hundreds of millions of dollars to defend itself as legal costs mount.
Barbara Ryan, pharmaceuticals analyst at Deutsche Bank North America, estimated the New Jersey-based company�s liability over Vioxx at $15bn to $30bn on Thursday, shortly after a state Superior Court jury in Atlantic City found Merck properly warned consumers about risks with Vioxx and was not liable for an Idaho man�s �01 heart attack.
�I do think that Merck has a good defense in the litigation,� she said. �It�s still going to be a marathon.� The verdict came two-and-a-half months after Merck loss a Vioxx case in Texas. "
posted by Chris Placitella at 5:02 AM
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