Court to hear Vioxx case

May 28, 8:00 AMU.S. Supreme Court ExaminerChelsea Bednarczyk

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Vioxx was pulled from the market Sept. 30, 2004

The Supreme has decided that it will hear an appeal from Pharmaceutical company Merck & Co. regarding its drug Vioxx.  Vioxx, a painkiller, was pulled from shelves in September of 2004 because it doubled the risks of heart attack, stroke and death.

Investors accused Merck of providing misinformation about the drug, omitting some information about the risks involved with the drug.

Shareholders wish to sue the company, but there has been debate on whether the suit will be allowed.  The 3rd US Circuit Court of Appeals ruled that the lawsuit was allowable, however Merck is challenging this ruling before the Supreme Court.

Merck is already making payments to the users of the drug and their survivors.  These payments stemmed from a $4.85 billion settlement for approximately 50,00 patients.

While its important to compensate those who were harmed by the drug, I'm not sure that the shareholders should be included in these lawsuits.  Without hard evidence that the company provided faulty information or failed for share all information, the shareholders will have a hard time proving their case.