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Stock analysts on the Vioxx verdict

Forbes has a round-up of reports as well as a summary of Ray Gilmartin's testimony. Dow Jones Newswires has more, including more Mark Lanier attempts to bend the rules, this time by using a loud voice at sidebars to argue to the jury.

The argument for punitive damages appears to be that a Merck scientist summarized data that was submitted to the FDA in a memo, but Merck didn't submit the summary itself. This is like saying that if John Smith submitted a 2003 tax return for $25,000 in income, a 2004 tax return for $34,000, and a 2005 tax return for $31,000 in income, he's guilty of tax evasion if he writes a letter to a friend saying that he averaged $30,000 in income from 2003-2005 if he doesn't also copy the IRS on that letter. (Update, April 7: it's worse than that.)



Isaac Gorodetski
Project Manager,
Center for Legal Policy at the
Manhattan Institute

Katherine Lazarski
Press Officer,
Manhattan Institute


Published by the Manhattan Institute

The Manhattan Insitute's Center for Legal Policy.