Merck downgraded after leading drug is recalled
Health scare over arthritis drug Vioxx leads to multiple-notch downgrades for Merck
Merck & Co. could surely use a new painkiller. Credit ratings for the New Jersey-based pharmaceutical company took a hit after its global recall of arthritis drug Vioxx in early November.
Following the recall over concerns that the drug increased the probability of heart attacks and strokes among users, Moody’s lowered Merck’s long-term rating two notches from Aaa to Aa2 and kept the
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