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Vioxx Settlement Is Classic Wall Street Denial: Bury the Losses and Say It Never Happened When it comes to billion dollar mistakes, Pharma and the big Wall Street firms are using the same playbook. Like Merrill Lynch, Citigroup and Morgan Stanley, Merck wants to write off the cost of the estimated 140,000 people who had heart attacks on Vioxx--55,000 may have died--and move on. Last week it announced it had reached a capped settlement of $4.85 billion that would allocate roughly $125,000 per plaintiff, less than it costs to treat a heart attack.

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Vioxx Settlement Is Classic Wall Street Denial: Bury the Losses and Say It Never Happened

When it comes to billion dollar mistakes, Pharma and the big Wall Street firms are using the same playbook.

Like Merrill Lynch, Citigroup and Morgan Stanley, Merck wants to write off the cost of the estimated 140,000 people who had heart attacks on Vioxx--55,000 may have died--and move on.

Last week it announced it had reached a capped settlement of $4.85 billion that would allocate roughly $125,000 per plaintiff, less than it costs to treat a heart attack.