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Wednesday, February 23, 2005

European Drugmaker Stocks Gain on Vioxx News

From CNN.com:

"Pharmaceutical heavyweights helped stem market losses though, with GlaxoSmithKline and AstraZeneca jumping over 4 percent each as news that a major U.S. drug may be safe enough to return to the market lifted hopes that recent safety fears across the industry may have been overdone."

"Drugmakers were a bright spot after a panel of U.S. experts said after Europe's close on Friday that Merck's withdrawn painkiller Vioxx was safe enough to be sold in the United States despite an increased risk of heart attack and stroke."

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