Wyeth hit by drug ruling
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Yield margins on bonds of New Jersey-based pharmaceuticals company Wyeth took a hammering in the secondary markets in May after a federal appeals court made it easier for people suing the company to present evidence suggesting they were harmed by two drugs in the company’s ‘fen-phen’ weight-loss cocktail. Hundreds of lawsuits have been filed against the company, and last month a Texas jury awarded $1.36 million to a woman who claimed her health was damaged by the slimming pills.
