Does anyone know how much of the Merck Vioxx liability (if any) is covered by insurance carriers? The size of the individual liability awards indicates that no small US company will ever be able to develop and market a new drug in the US. Doesn't this appear to be a major step backwards in our society. Aren't these drugs improving our quality of life!!!! How does a $250M dollar award against Merck help our society.
I enjoy companies who delete negative information in reports that they are submiting to peer-reviewed journals.
The problem isnt the lawsuits. After all, following your line of thinking J&J would be out of business from lawsuits. They arent. And the reason why is that J&J immediately destroyed every bottle of tylenol on the shelves when they found out what happened. What did Merk do? Well, not only did they know what the risks were, they were withholding that information so doctors AND patients were unable to make fully informed decisions.
BTW, $250M is not the final amount of the reward. If you had done any research other than reading an AP news release, you would understand that texas state law limits the size of monetary settlements. In this case, probably to around $25M, or 1/10th the current value.
The fun part is that there are over 7,000 of these suits in other states, states that dont have such caps to civil penalties.
You nailed it, exactly. Risk is always out there. There were so many individuals who found no other remedy for their pain except Vioxx. Merck followed the science and the protocols as per Fed oversight. If the pharmas go, so do the generic blood-suckers who feed off the pharmas, and so do all the souls whose lives are extended by pharma therapy. What a crazy world!