US judge dismisses Vioxx lawsuit against Merck
NEW YORK - A US federal judge has dismissed an investors' class-action lawsuit against pharmaceutical giant Merck related to its Vioxx pain medication, the drug group said Friday.
The lawsuit had been filed by investors against Merck over certain disclosures regarding Vioxx which Merck yanked from the market in September 2004.
A clinical study had showed that patients who took the drug for 18 months or longer ran a higher risk of suffering a heart attack or stroke.
Merck said in a statement that Judge Stanley Chesler of the US District Court in Newark dismissed the case Thursday on technical grounds, saying the plaintiffs and lawyers had waited too long to file their lawsuit under statutes of limitations.
Merck's shares surged on the news and were up 3.41 dollars, over seven percent, at 49.79 dollars in mid-morning deals.
The drug-maker has been fighting off thousands of lawsuits filed over Vioxx, an anti-inflammatory agent that was used primarily to treat arthritis and injuries.
04/13/2007 14:28 GMT
