More Roadblocks Ahead For Pharma in 2005?
The pharmaceutical industry was traumatized in 2004 when Merck had to withdraw its $2.5 billion COX-2 inhibitor Vioxx from the market due to potentially lethal side effects. Pharmaceutical companies are already struggling to deal with increasing generic competition and stringent approval standards in an effective manner. Will the aftereffects of a disastrous 2004 hamper industry growth in the years to come?
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