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WHITEHOUSE STATION, N.J.,
Aug. 22, 2005 - Friday's verdict in Texas was a
disappointment to all of us at Merck because we know
we acted responsibly.
Merck is driven by science and our commitment to
acting in the best interest of patients. Merck
acted responsibly - from researching VIOXX prior to
approval in studies with almost 10,000 patients - to
monitoring the medicine while it was on the market -
to voluntarily withdrawing the medicine when we
did.
The case presented to the jury by the plaintiff
was fundamentally flawed. The jury was allowed to
hear testimony that was not based on reliable
science and that was irrelevant. We intend to
appeal the verdict. Our appeal is not about legal
technicalities but about basic rights to a fair
trial.
We have strong points to raise on appeal and are
hopeful that a higher court will correct the
verdict. Even if the verdict were to be upheld,
punitive damages under Texas law would be limited to
approximately $2 million.
While we are disappointed with the verdict, this
decision should be put it in its appropriate
context. This is the first of many trials. Each
case has a different set of facts. Regardless of
the outcome in this single case, the fact remains
that plaintiffs have a significant legal burden in
proving causation.
We are steadfast in our legal strategy. Our
legal strategy is consistent with the Company's
overall strategy - it is responsible and based in
sound science. We believe we have meritorious
defenses and we intend to vigorously defend
individual VIOXX cases one by one.
We have great strengths as a company, a business
that is fundamentally sound, and a critically
important, life-saving mission. Nothing in this
verdict changes that.
About Merck
Merck & Co., Inc. is a global
research-driven pharmaceutical company dedicated to
putting patients first. Established in 1891, Merck
discovers, develops, manufactures and markets
vaccines and medicines in more than 20 therapeutic
categories. The company devotes extensive efforts
to increase access to medicines through far-reaching
programs that not only donate Merck medicines but
help deliver them to the people who need them.
Merck also publishes unbiased health information as
a not-for-profit service. For more information,
visit www.merck.com.
Forward-Looking Statement
This statement contains "forward-looking statements"
as that term is defined in the Private Securities
Litigation Reform Act of 1995. These statements
involve risks and uncertainties, which may cause
results to differ materially from those set forth in
the statements. The forward-looking statements may
include statements regarding product development,
product potential or financial performance. No
forward-looking statement can be guaranteed, and
actual results may differ materially from those
projected. Merck undertakes no obligation to
publicly update any forward-looking statement,
whether as a result of new information, future
events, or otherwise. Forward-looking statements in
this statement should be evaluated together with the
many uncertainties that affect Merck's business,
particularly those mentioned in the cautionary
statements in Item 1 of Merck's Form 10-K for the
year ended Dec. 31, 2004, and in its periodic
reports on Form 10-Q and Form 8-K, which the company
incorporates by reference. |