"Merck & Co.'s long-term debt rating was lowered two levels by Moody's Investors Service because the Sept. 30 withdrawal of the Vioxx painkiller reduced revenue and elevated the No. 2 U.S. drugmaker's litigation risks.
. . .
"The downgrade came as 300 lawyers at a conference today in Pasadena, California, discussed litigation strategies for hundreds of lawsuits filed against Merck over Vioxx. The company disclosed yesterday that the U.S. Justice Department demanded Vioxx-related documents in a criminal probe. Merck's liability in Vioxx suits may reach $4 billion to $18 billion, Merrill Lynch estimated last week." [Bloomberg.com]
