Pharmaceutical giant Merck & Co. (MRK) is halting worldwide sales of its blockbuster arthritis drug Vioxx, once viewed as possibly being able to prevent some cancers, because new data from a clinical trial found an increased risk of heart attack and stroke. Its stock price plunged more than 26 percent as the company said the recall will hurt its earnings.
They actually took the time today to announce that the recall would hurt it’s earnings? I think that’s a given, don’t you?
Merck said Thursday that data from the trial showed the increased risk of heart attack and other cardiovascular complications began 18 months after patients started taking Vioxx. About 2 million people worldwide are currently taking Vioxx, according to Merck, and a total of 84 million have taken it since it came on the market with great fanfare in 1999.
I bet their chief financial officer is sweating right about now. We all know what happened with a few “other” drugs that ended up hurting people. The money changing hands was truly astounding.
The data comes from a three-year study aimed at showing that Vioxx at a 25 milligram dose prevents recurrence of polyps in the colon and rectum. Such polyps can turn cancerous. The trial was stopped after Merck discovered study participants had double the risk of a heart attack, compared to other participants taking dummy pills.
Question: Does taking “dummy pills” make you immune from dummies or does it make you a dummy? Enquiring minds want to know.
Medical experts advised patients to stop taking Vioxx and consult their doctor about alternatives, but said patients should not panic because the risk of a heart attack was still relatively low.
I haven’t trusted any of the “new” drugs they keep advertising on TV anyway.
How can you trust a company that runs commercials that say to “ask your doctor”, when, if the drug actually does anything, your doctor should already know?
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