Good Thing They Set Aside a Few Billion

Merck has been found negligent in Texas in the first Vioxx decision, with a $253 million award of which $229 million is punitive based on the jury's calculation about the expected cost savings Merck incurred by putting off labeling changes. If you shorted Merck stock ~~as your physician's hedge fund had suggested~~ you are going to start making money soon: Merck is down 8% at the close on Friday.

posted Aug 19, 2005 | link | jump to the comments (4)

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This will be the first big test - and a more appropriate test I can't imagine - of Texas' cap on liability awards for other than non-economic losses.

- by Beverly on Aug 20, 2005 at 2:23 PM | link

Sorry to make a second comment, but I'm curious about the meaning of the text that's struck out.

- by Beverly on Aug 20, 2005 at 2:25 PM | link

It's a reference to physicians and scientists participating in clinical trials providing insider information to hedge fund managers . . . story's been around for at least a week now.

- by on Aug 22, 2005 at 2:25 PM | link

Thanks Anon. Stock and "hedge funds" all seem make-believe to me. I will admit to being dense about them.

- by Beverly on Aug 22, 2005 at 2:46 PM | link

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