Bears Make It Grizzly for the Drug Heavyweights ; Market Report

Evening Standard - London › August 22, 2005

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Summary

SHARES of Britain's big three drug companies were feeling the pain today as stock market bears attempted to give them a mauling.

The sell-off of the drug companies follows Friday's demand by a US court that drugs giant Merck pays out Pounds 141 million to the family of a man who died after taking its Vioxx painkiller. It is reckoned the case will open the floodgates to thousands more, which could cost billions of pounds. The dead man's lawyers convinced the jury that Vioxx was to blame even though an autopsy failed to link the drug directly to his death.

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Bears Make It Grizzly for the Drug Heavyweights ; Market Report

Britain's second-biggest drugs company, GlaxoSmithKline, fell 16p to 1330p after reports that its antidepressant Seroxat had sideeffect...

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