4 Healthcare Stock Stories Popping on Friday
Merck & Co. (NYSE:MRK): Closing price $47.29
United States District Judge John Keenan in Manhattan, overseeing consolidated litigation against Merck & Co in regards to jaw injuries allegedly caused by the osteoporosis drug Fosamax, has ordered hundreds of cases dispersed to courts around the United States for trial. The ruling represents an unusual and potentially very expensive development for Merck.
Most often, firms find it easier to reach resolutions in mass tort cases that are unified before one judge. The judge’s order on Thursday mandates that 200 cases per month be sent back to the courts in which they were initially filed, starting with the oldest ones. Merck spokeswoman Lainie Keller said that the company “is committed to defending its conduct in regard to Fosamax and has confidence in its defense strategy that has had so much success in the courts.”