Monday, October 22, 2007
An Associated Press story in today's Reno Gazette Journal follows up on the Nevada Prempro plaintiffs' verdict. The main point of the article -- No alarm on Wall Street over Wyeth case -- is that the financial markets are not particularly concerned about the litigation over the Prempro and Premarin hormone replacement therapy (HRT) drugs, and are treating the $134 million verdict ($35 million compensatory damages and $99 million punitive damages) more as an aberration than an omen. As one financial analyst put it, as quoted in the article, "Unlike Wyeth's diet drug litigation, the Premarin/Prempro is widely viewed as more of a headline risk than a long-term financial risk." Of course, after fen-phen, almost any Wyeth litigation risk would appear small by comparison.