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Perspective
BUSINESS AND MEDICINE

Volume 351:2147-2149 November 18, 2004 Number 21
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Merck's Recall of Rofecoxib — A Strategic Perspective
Felix Oberholzer-Gee, Ph.D., and S. Noorein Inamdar, M.S., M.B.A.

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When Merck announced the voluntary withdrawal of its acute-pain medication, rofecoxib (Vioxx), on September 30, 2004, its stock price collapsed, wiping out more than a quarter of the company's market value in a single day. A second blow came on November 1, when an article in the Wall Street Journal suggested that Merck had known about elevated risks of heart attack and stroke for years and had tried to intimidate scientists who questioned the safety of rofecoxib. On that day, Merck's stock price fell by another 10 percent. The recall came as a shock not only to patients and their . . . [Full Text of this Article]


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From the Harvard Business School, Boston.



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