WBB Securities analyst Steve Brozak has issued a symbolic "silver medal" to Merck for worst news week. In a triple whammy rarely accomplished in the drug world, Merck had two experimental therapies rejectedÂ and earned a black eye for the FDA's rebuke on problems at its main vaccine plant. Merck even had to extend its settlement deal on Vioxx. As the AP notes, Merck earned the gold medal for bad news back in 2004, when it pulled Vioxx off the market and triggered a frenzy of lawsuits alleging the drug giant had cavalierly disregarded signs that the drug presented a real danger to patients.
It was only a few weeks ago that Merck was being applauded for a string of new drug approvals and an aggressive restructuring plan. And analysts are betting that bout of positive breakthroughs will get the company through the current Olympic trials for major corporate pain.
- check out the AP report
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