| -Caveat Lector-
Merk will probably be acquired by another pharmaceutical in bankruptcy
triggering golden parachutes for 150 perpetrators,excuse me, I meant executives.
- JR
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Merck's Vioxx Liability Could Reach $38 Billion 12.03.04, 2:31 PM ET The legal liability to Merck (nyse: MRK - news - people ) for the withdrawn arthritis drug Vioxx could be huge, according to Richard Evans, an analyst at Sanford C. Bernstein, who cut his target price to $30 from $33. If all the patients who had heart attacks as a result of taking Vioxx were to receive an average-sized legal settlement, Evans wrote in a research report, Merck's liability could reach $38 billion. That assumes that 58,000 heart attacks could be linked to the drug, and that the average settlement would be $650,000. At current prices, Evans wrote, the company's share price assumes about $25 billion in risk. Evans, who rates Merck at "market perform," cautions that it's not yet clear whether trial lawyers can win settlements or at jury, but if they do the liability is likely to far exceed his previous estimates. Bernstein or its affiliates own 1% of Merck, which is a non-investment banking client of the bank. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://www.mail-archive.com/ctrl@listserv.aol.com/ <A HREF="">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om |
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