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Biotech / Medical : Biotech Valuation
CRSP 56.98+1.1%Nov 5 3:59 PM EST
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To: Ian@SI who wrote (13377)10/7/2004 11:04:58 AM
From: Biomaven  Read Replies (1) of 52153
 
Part of the issue is that questions have been raised about Vioxx's safety issues for quite some time now. One of the early studies showed it doing quite a bit worse than Naprosyn - MRK's (not altogether unreasonable) response to that was that Naprosyn was having a good cardiac effect, somewhat like aspirin, and so Vioxx wasn't actually doing harm, simply not doing good. But that position was steadily eroded even before the latest study, particularly with the very recent Kaiser observational study.

But this does hurt the drug industry as a whole and will undoubtedly serve to make the FDA more cautious. All the cox-2 inhibitors will now be under something of a cloud. Wolfe's group never like the cox-2 drugs, and to some extent he has been vindicated.

Peter
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