What might Vioxx litigation cost Merck?
December 4, 2004 13:58

According to a report from Sanford C. Bernstein, Merck could be liable for billions more than the current stock valuation indicates. If every patient who had a heart attack as a result of taking Vioxx, which is now estimated at nearly 60,000, received $650,000, Merck's liabilities would reach almost $40 billion. The market is currently pricing in about $25 billion in risk. Sanford C. Bernstein cut the target price for Merck to $30 from $33. Merck shares ended Friday at $28.68, up 8 cents, or 0.28%.

"The Vioxx cases and the negligence surrounding Merck's development, marketing and obfuscation of the problems associated with this drug perfectly illustrate the dangers to the public in granting immunity to manufacturers whose products are approved by the FDA," Attorney J. Douglas Peters, a senior shareholder with Charfoos & Christensen said. "Without individual lawsuits and the discovery of documents that are allowed in such lawsuits, tomorrow's Vioxx case will go undiscovered and the public's health will be threatened."

This lawsuit will toll the statute of limitations for all United States citizens as of the date of filing," Peters said. "This lawsuit is being filed to protect the rights of people injured by Vioxx so that their time limit, the statute of limitations, does not expire before they have an opportunity to see an attorney."

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Researched from Merck's 10-Q by Michael Monheit, Esquire, Monheit Law, PCgoogle_ad_client = "pub-5012235937609631";google_ad_width = 160;google_ad_height = 600;google_ad_format = "160x600_as";google_ad_channel ="4711498459";google_color_border = "6699CC";google_color_bg... (Read Article)

FDA Acting Commissioner Lester Crawford on Friday agreed to meet with a top Republican lawmaker about the agency's handling of safety concerns over Merck & Co Inc.'s now-withdrawn painkiller Vioxx.

In a letter to Senate Finance Committee Chairman Sen. Charles Grassley, Crawford said he took the Iowa Republican's concerns "very seriously," without specifically referring to the lawmaker's fears for FDA whistle-blower David Graham.

Research on warning by Michael Monheit, Esquire, Monheit Law, PCgoogle_ad_client = "pub-5012235937609631";google_ad_width = 160;google_ad_height = 600;google_ad_format = "160x600_as";google_ad_channel ="4711498459";google_color_border = "6699CC";google_color_bg... (Read Article)