Merck & Co and Schering-Plough Corp will cooperate in the probe of Vytorin by New York Attorney General Andrew Cuomo, who wants to know if the pharmaceutical companies hid research on the cholesterol-lowering drug.
Cuomo's investigation focuses on the marketing of the drug and sales of the companies' shares before the negative results were made public, the attorney general's office said on Saturday in an e-mailed statement.
A study released on Jan. 14 showed that Vytorin, a combination of the drugs Zocor and Zetia that had US$5 billion in sales last year may be no more effective at reducing plaque buildup inside the arteries than Zocor alone.
New York's Medicaid program for those with low incomes has paid about US$21 million for Vytorin in the past two years rather than buying a cheaper generic version that might be at least comparable to the name brand, Cuomo said.
"We are aware of the subpeonas and will cooperate with the New York attorney general," Schering-Plough spokeswoman Rosemarie Yancosek said. "We stand behind our products as we have done nothing wrong."
"Merck received the subpoenas and will cooperate fully," spokesman Chris Garland said. "Merck stands behind the safety and efficacy profiles of Zetia and Vytorin. We acted with integrity and good faith with respect to the trial."
The attorney general also sought information to determine whether insider sales of stock were appropriate and whether statements to investors were accurate.
He declined, however, to pinpoint any specific trading in the shares of Merck, based in Whitehouse Station, New York, or Schering-Plough, based in Kenilworth, New Jersey.
Carrie Smith Cox, a Schering-Plough executive vice president, sold 900,000 shares for US$28 million on April 20, according to a Securities and Exchange Commission filing. No reference to her was made in Saturday's statement. The company said on Jan. 22 that Cox followed procedures in making the sale.
"We will investigate and, when appropriate, hold accountable drug companies for engaging in irresponsible and deceptive conduct and any deceitful marketing of prescription drugs," Cuomo said in the statement.
The company-sponsored study from October 2002 to April 2006 measured the thickness of the carotid arteries of 720 patients with a predisposition to high cholesterol who took the largest dose of Vytorin over two years. A blocked carotid cuts blood supplies to the brain and can cause a stroke.
Lawmakers are probing whether Schering and Merck acted improperly in their marketing for Vytorin, which cost an average of US$3 a pill compared with US$0.03 for Zocor.
MORE VISITORS: The Tourism Administration said that it is seeing positive prospects in its efforts to expand the tourism market in North America and Europe Taiwan has been ranked as the cheapest place in the world to travel to this year, based on a list recommended by NerdWallet. The San Francisco-based personal finance company said that Taiwan topped the list of 16 nations it chose for budget travelers because US tourists do not need visas and travelers can easily have a good meal for less than US$10. A bus ride in Taipei costs just under US$0.50, while subway rides start at US$0.60, the firm said, adding that public transportation in Taiwan is easy to navigate. The firm also called Taiwan a “food lover’s paradise,” citing inexpensive breakfast stalls
TRADE: A mandatory declaration of origin for manufactured goods bound for the US is to take effect on May 7 to block China from exploiting Taiwan’s trade channels All products manufactured in Taiwan and exported to the US must include a signed declaration of origin starting on May 7, the Bureau of Foreign Trade announced yesterday. US President Donald Trump on April 2 imposed a 32 percent tariff on imports from Taiwan, but one week later announced a 90-day pause on its implementation. However, a universal 10 percent tariff was immediately applied to most imports from around the world. On April 12, the Trump administration further exempted computers, smartphones and semiconductors from the new tariffs. In response, President William Lai’s (賴清德) administration has introduced a series of countermeasures to support affected
CROSS-STRAIT: The vast majority of Taiwanese support maintaining the ‘status quo,’ while concern is rising about Beijing’s influence operations More than eight out of 10 Taiwanese reject Beijing’s “one country, two systems” framework for cross-strait relations, according to a survey released by the Mainland Affairs Council (MAC) on Thursday. The MAC’s latest quarterly survey found that 84.4 percent of respondents opposed Beijing’s “one country, two systems” formula for handling cross-strait relations — a figure consistent with past polling. Over the past three years, opposition to the framework has remained high, ranging from a low of 83.6 percent in April 2023 to a peak of 89.6 percent in April last year. In the most recent poll, 82.5 percent also rejected China’s
PLUGGING HOLES: The amendments would bring the legislation in line with systems found in other countries such as Japan and the US, Legislator Chen Kuan-ting said Democratic Progressive Party (DPP) Legislator Chen Kuan-ting (陳冠廷) has proposed amending national security legislation amid a spate of espionage cases. Potential gaps in security vetting procedures for personnel with access to sensitive information prompted him to propose the amendments, which would introduce changes to Article 14 of the Classified National Security Information Protection Act (國家機密保護法), Chen said yesterday. The proposal, which aims to enhance interagency vetting procedures and reduce the risk of classified information leaks, would establish a comprehensive security clearance system in Taiwan, he said. The amendment would require character and loyalty checks for civil servants and intelligence personnel prior to
RSS