Friday, May 13, 2005
New generation of robber barons
"CEOs can win big even when the company loses. Merck, for example, had to pull its Vioxx pain medication off the market because it increases stroke and heart attack risk, and Merck stock was down 28 percent last year, but CEO Ray Gilmartin got a supposedly performance-based bonus. His total 2004 compensation was $37.8 million and he received a new grant of 250,000 stock options." [NorthJersey.com]
Once-active man joins Vioxx attack
"John Honea went into semi-retirement at age 48, but now he's in full retirement after taking a drug called Vioxx.
"Honea, now 52, was a lieutenant colonel in the Air Force until 2000. He served 30 years. He had physicals every two years that he says showed none of the warnings signs of heart disease. His blood pressure and cholesterol were in check. He never smoked, and there was no family history of cardiac problems." [Denver Post]
"Honea, now 52, was a lieutenant colonel in the Air Force until 2000. He served 30 years. He had physicals every two years that he says showed none of the warnings signs of heart disease. His blood pressure and cholesterol were in check. He never smoked, and there was no family history of cardiac problems." [Denver Post]
Monday, May 09, 2005
News Feature
"Concerned by recently discovered dangers of relatively new arthritis and depression drugs, most Americans would prefer a drug that has been on the market at least a decade, according to a new survey.
'Seven out of 10 American consumers would prefer a drug that had been on the market for 10 years or more over newer drugs, even if the co-pays were equal,' according to the survey of 1,092 insured adults sponsored by pharmacy benefit manager Medco Health Solutions." [MaconDaily.com]
'Seven out of 10 American consumers would prefer a drug that had been on the market for 10 years or more over newer drugs, even if the co-pays were equal,' according to the survey of 1,092 insured adults sponsored by pharmacy benefit manager Medco Health Solutions." [MaconDaily.com]
Senate panel passes bill to allow more Vioxx users to sue
"For some users of Vioxx and Bextra, known as Cox-2 inhibitors, the statute of limitations ran out before the drugs were found to increase the risk of heart disease and stroke, so the patients were unable to sue the drug's manufacturer, Merck & Co.
"The bill passed the Senate Judiciary Committee 4-3 with all Democrats voting in favor and all Republicans opposed. It will now go to a vote in the full Senate.
"The bill would extend the deadline for filing lawsuits to two years after the cause of injury was discovered. For Vioxx users, that would be two years from Sept. 30, 2004, the date the drug was pulled from the market." [OregonLive.com]
"The bill passed the Senate Judiciary Committee 4-3 with all Democrats voting in favor and all Republicans opposed. It will now go to a vote in the full Senate.
"The bill would extend the deadline for filing lawsuits to two years after the cause of injury was discovered. For Vioxx users, that would be two years from Sept. 30, 2004, the date the drug was pulled from the market." [OregonLive.com]
Citizens group pushes for end to drug company immunity
"A new citizens group wants to overturn Michigan's law protecting prescription drug companies from liability lawsuits.
The group, called Drug Industry Immunity Must End, held a news conference Monday to express its support for bills expected to be introduced in the state Legislature this week. The legislation would repeal the state's 1996 law that shields drug makers from liability if their product was approved by the Food and Drug Administration" [Detroit Free Press]
The group, called Drug Industry Immunity Must End, held a news conference Monday to express its support for bills expected to be introduced in the state Legislature this week. The legislation would repeal the state's 1996 law that shields drug makers from liability if their product was approved by the Food and Drug Administration" [Detroit Free Press]
You Stopped Taking Bextra, Now What
"Citing serious cardiovascular risks, the FDA recently pulled a whole class of drugs off the market including Bextra.
"Dr. Frederic Kahl, a cardiologist with Wake Forest University Baptist Medical Center says, 'The recent alerts by the FDA have covered the entire class of NSAID's, so that includes Celebrex, Bextra is off the market, Vioxx is off the market, and it includes all the prescription strength ibuprofen and naproxen.'" [WFMY News]
"Dr. Frederic Kahl, a cardiologist with Wake Forest University Baptist Medical Center says, 'The recent alerts by the FDA have covered the entire class of NSAID's, so that includes Celebrex, Bextra is off the market, Vioxx is off the market, and it includes all the prescription strength ibuprofen and naproxen.'" [WFMY News]
Company deceived doctors about Vioxx's safety, lawmaker says
"After a March 2000 study linked Merck's painkiller Vioxx to heart problems, Merck instructed its marketing force not to discuss the findings with physicians, according to company documents released Thursday by a congressional committee. Instead, Merck's sales staff provided doctors with different studies that suggested Vioxx was safe.
"Those actions, along with a multimillion-dollar ad campaign, helped make Vioxx a success for Merck. It reached $2 billion in annual sales faster than any of the company's other drugs, said Rep. Henry Waxman, D-Calif. But Vioxx may also have been a factor in thousands of heart attacks and strokes in patients who would have been better served with another medication, according to medical experts." [Kansas City Star]
"Those actions, along with a multimillion-dollar ad campaign, helped make Vioxx a success for Merck. It reached $2 billion in annual sales faster than any of the company's other drugs, said Rep. Henry Waxman, D-Calif. But Vioxx may also have been a factor in thousands of heart attacks and strokes in patients who would have been better served with another medication, according to medical experts." [Kansas City Star]
Panel Finds Merck Went on 'Offense' in Promoting Vioxx
"Merck & Co. sales personnel, using projects code-named 'Offense' and 'XXceleration,' took extensive measures to boost sales of the painkiller Vioxx amid brewing safety concerns.
Documents released Thursday at a congressional hearing detail how a sales army of 3,000 turned the drug into a multibillion-dollar blockbuster before it was pulled from the market last fall because of an increased risk of heart attack and stroke." [NewsFactor.com]
Documents released Thursday at a congressional hearing detail how a sales army of 3,000 turned the drug into a multibillion-dollar blockbuster before it was pulled from the market last fall because of an increased risk of heart attack and stroke." [NewsFactor.com]
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