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Merck MRK confirmed Wednesday that it won an appeal in a liability case related to Vioxx. A Texas appeals court overturned a verdict that had awarded $7.75 million to the widow of a 71-year-old heart attack victim. Leonel Garza had died after taking Vioxx for a month. The drug was pulled from the market in 2004 after research showed it increased the risk of heart attack and stroke. The jury's original verdict on April 21, 2006, included $7 million in compensatory damages and $25 million in punitive damages for a total of $32 million against Merck, the company said in a statement. In December of that year, the punitive award was reduced to $750,000 in compliance with Texas statutory caps. Merck's shares rose 1.7% to $39.83.
A group of pricate equity firms is buying the wound care business in a deal expected to close in the third quarter.
Shares are falling 8% as the agency turns down an application for a new cholesterol treatment.
But factoring out acquisition costs, the drugmaker beats Wall Street's first-quarter estimates.
Yahoo! is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Ensco International and Echelon have the potential to move higher in coming days.
See who made what calls.
The addition of video is helping telecom companies compete against cable and satellite companies.
The June West Texas Intermediate contract reflects selling pressure ahead of Tuesday's expiration. But stocks in the sector are generally trading higher.
See who made what calls.
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