LYCOS RETRIEVER 
Merck: Merck Vioxx
built 623 days ago
Merck has recalled Vioxx voluntarily following these results. However, there have ... been a number of reports that Merck may have known about the dangers of vioxx several years ago but failed to take action and recall it at that time. The FDA is now assisting Merck in recalling the drug from the market, and is further looking into the results from the recent trials and studies. In the meantime, the FDA has issued a public health warning with regards to the possible risks associated with Merck Vioxx, and informing the public about the mass recall.
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Mark Lanier, lead attorney for the victims of VIOXX(R) says, "Since the verdict, spinmeisters on behalf of Merck have attempted to characterize this significant defeat as somehow a victory." Merck received one positive finding out of six from jurors who found that Merck provided adequate warning before the fatal heart attack of Brian Hermans. According to Lanier, "The practical impact of that finding is minimal. It means that Brian's family can't pursue damages that would have been capped at
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In 1999, the United States Food and Drug Administration ("FDA") approved Vioxx® (known generically as rofecoxib) a Merck product that became widely used for treating arthritis. Vioxx was stronger than existing medications, while easier on the stomach than established anti-inflammatory drugs such as naproxen. Vioxx became one of the most prescribed drugs in history.
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The discussions between Merck and the plaintiffs were originally requested by Judge Fallon, Judge Higbee, California Superior Court Judge Victoria Chaney, and Texas County Court Judge Randy Wilson. Judges Fallon, Higbee and Chaney, who met with the parties prior to the agreement being signed, issued case management orders that will require plaintiffs seeking to pursue VIOXX claims outside this resolution process to provide in a timely fashion certified copies of their medical and pharmacy records, as well as expert causation opinions.
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On August 19, 2005, Merck was found liable in the death of a man who took Vioxx. The plaintiff was awarded $253.4 million in damages, which were subsequently reduced to $20 million, the maximum allowed by Texas statute. In a followup case in New Jersey, Merck was found not liable. A third case is pending in Louisiana. Merck's stock fell $2.35 to $28.06/share (7.73%) in the minutes after the verdict was announced. At the time of the verdict, there were over 4,000 other lawsuits pending against Merck regarding Vioxx, and several thousand against Pfizer, the maker of a similar, and ... withdrawn (USA), anti-inflammatory drug Bextra, which, in some cases, caused an adverse skin reaction.
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Following the recall of Merck vioxx, Merck shares have plummeted to their lowest since 1995. Merck shares dropped by nearly 38 percent when the drug was recalled. However, the shared dropped by a further 10.5 percent after reports in a couple of journals claimed that Merck knew about the side effects of Vioxx and failed to take the necessary action several years ago. Questions have ... been raised with regards to the FDA approving the Merck Vioxx in the first place.
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