Monday, August 22, 2005

Pharma investors turn wary after huge Vioxx award

"International investors turned wary on pharmaceutical stocks on Monday after a $253 million award against Merck & Co. Inc. (MRK.N: Quote, Profile, Research) over its withdrawn painkiller Vioxx.

"Drug shares were the biggest fallers on European markets by mid-session as the verdict by a Texas jury set alarm bells ringing about product liability risk across the industry. [Reuters]