Pharmaceuticals vs. Common man Round 1 goes to the common man

J

JUju2005

Guest
With this decision besides an appeal what do you think is gonna happen. Are the pharmaceuticals gonna increase of decrease prices.

[FONT=[B]Arial Black]Merck & Co. found liable in nation's first Vioxx trial [/B] [/FONT]



By ASSOCIATED PRESS

ANGLETON, Texas (AP) — A Texas jury found pharmaceutical giant Merck & Co. liable for the death of a man who took the once-popular painkiller Vioxx.
Jurors awarded Robert Ernst’s widow, Carol, $253.4 million in damages, which is a combination of his lost pay as a Wal-Mart produce manager, mental anguish, loss of companionship and punitive damages.

The case drew national attention from pharmaceutical companies, lawyers, consumers, stock analysts and arbitragers as a signal of what lies ahead for Merck, which has vowed to fight the more than 4,200 state and federal Vioxx-related lawsuits pending across the country. Merck said it plans to appeal.

A seven-man, five-woman jury from a semi-rural county south of Houston deliberated for 10 1/2 hours over two days before blaming the drug for killing Ernst in his sleep in 2001. Jurors rejected Merck’s argument that Ernst died of clogged arteries rather than a Vioxx-induced heart attack that led to his fatal arrhythmia.

In Texas, punitive damages are capped at twice the amount of economic damages — lost pay — and up to $750,000 on top of non-economic damages, which are comprised of mental anguish and loss of companionship. Non-economic damages have no limit in Texas except in medical malpractice cases, which doesn’t apply to the Ernst case.

Shares of Merck & Co. fell $1.01, or 3.3 percent, to $29.40 in afternoon trading on the New York Stock Exchange after the verdict.

Originally published on August 19, 2005

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nittie

Star
Registered
According to AARP drug prices rose at twice the rate of inflation so the companies ain't hurting, plus the widow will never collect all the money it will be litigated for years she might get a 10th of the judgement before she dies. The industry won't even feel this judgement and it won't bring this guy back.
 

mistavez

Support BGOL
Registered
thats just to much money, this shit needs to be appealed and overturned. anything over 50 mill is simply too much, not for once person. now anyone else affected nows how hight to aim price wise. its a shame
 

rainandpain

Banned
tax that shit, lawyer percentages and pressured charity donations will probably come out to 50 mill in net equity. haha
 
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