Merck Wins Reversal Of $51 Million Award
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Merck & Co. won the first reversal of a damage award over its Vioxx painkiller yesterday when a judge ruled that a $51 million verdict was "grossly excessive."
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Drug company Merck has removed its painkiller Vioxx because of data showing an increased risk of heart attack and stroke.
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A New Jersey jury found on Monday that Merck & Co. Inc.'s withdrawn arthritis drug Vioxx was responsible for a plaintiff's heart attack and it awarded $20 million in compensatory damages.
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A federal judge overturned a $50   million award handed down by a jury against Merck & Co. Inc.   MRK.N earlier this month in a case of a former FBI agent who   had blamed the withdrawn painkiller Vioxx for his heart attack.
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Merck &amp; Co. Inc. said Wednesday it expects the withdrawal of its Vioxx painkiller from the market to reduce full-year earnings by 50 cents to 55 cents a share.
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A federal judge on Wednesday threw   out a $50 million jury award against Merck & Co. Inc., calling   the compensation excessive for a former FBI agent who suffered   a heart attack while using Merck's Vioxx painkiller and saying   a new trial on damages was needed.
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Merck & Co Inc. on Thursday pulled its  arthritis drug Vioxx off the market after a study showed it  doubled the risk of heart attack and stroke, a move that sent  its shares plunging and erased $25 billion from its market  value.
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Merck &amp; Co. said it&#39;s withdrawing its Vioxx painkiller, which generated $2.5 billion in worldwide sales last year, because of data showing an increased risk of heart attack and stroke.
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Merck & Co. Inc.  has agreed to pay $2.3 billion to settle a tax dispute with the U.S. Internal Revenue Service, the drugmaker said on Wednesday, but other tax disputes with U.S. and Canadian authorities totaling $3.26 billion remain unresolved.
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Merck &amp; Co Inc. on Thursday pulled its arthritis drug Vioxx off the market after a study showed it doubled the risk of heart attack and stroke, a move that sent its
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The withdrawal of painkiller Vioxx will reduce 2005 earnings of Merck &amp; Co. Inc. to between $2.42 and $2.52 a share, below the already diminished expectations of Wall Street analysts, the huge drug maker said Wednesday.
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Better-than-expected profit news from Merck also raised the mood on Wall Street, helping shares partly recover from a steep sell-off Friday.
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A federal jury on Thursday found  that Merck & Co. Inc. was negligent and knowingly made  misrepresentations about its withdrawn pain medicine Vioxx, and  awarded $51 million to the plaintiff.
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Merck &amp; Co Inc. on Thursday pulled its arthritis drug Vioxx off the market because it increases the risk of heart attack and stroke, a move that sent the company&#39;s
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Merck and Co  on Wednesday reported a fourth-quarter loss due to a number of charges, including for a costly settlement related to its withdrawn Vioxx arthritis drug.
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Merck & Co Inc. MRK.N on Thursday  pulled its arthritis drug Vioxx off the market after a study  showed it doubled the risk of heart attack and stroke, a move  that sent its shares plunging and erased $25 billion from its  market value.
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A New Jersey jury found on Monday that Merck & Co. Inc.'s withdrawn arthritis drug Vioxx was responsible for a plaintiff's heart attack and awarded him $20 million in compensatory damages.