Once Vioxx was the largest selling drug in history. It was manufactured by Merck & Co. since 1999. A very potent drug, very effective painkiller and was easier on stomachs. In short it was a revolutionary drug! In 2004 during some clinical trials, it was found that Vioxx increased the risk of heart attacks. Its competitor naproxen was hard on stomach but had no visible side effects on heart.
In 2004, 50,000 people sued Merck for da
mages caused by the side effects of Vioxx. In 2005 Merck was found liable in the firt case. In all Merck paid $ 4.85 billion as damages to the affected people.
Now, Let us see the better half of Merck! In 1980 Dr. Mohammed Aziz accidently discovered that the drug Ivermectin (highly potent parasite killer in animals) is the solution for River Blindness. River Blindness is an endemic with 13 million people affected and another 21 million at risk. It is prevelent in African and some Latin American countries. Dr. Aziz’z discovery helped Merck to develop the drug Mectizan which was extremely effective for this disease. Merck, after finding that the target segment for Mectizen were so poor that they would not be able to buy this medicine at $1.5. It approached many countries to fund distribution of this pathbreaking medicine. Finally Merck made history by taking a project, one of its kind. It distributed the medicine to millions of people in the risk zone free of cost. This corporate governance portrayed by them have proved the world that pharma companies do care for mankind. » Read more: Freeman or Friedman
