National business news in brief | Treasury rates edge up; Vioxx arguments
Rates edge up The Treasury Department auctioned $30 billion in three-month bills on Monday at a discount rate of 0.060 percent, up from 0.040 percent last week. Another $31 billion in six-month bills was auctioned at a discount rate of 0.150 percent, up from 0.140 percent last week. Separately, the Federal Reserve said that the average yield for one-year Treasury bills fell to 0.27 percent last
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Merck backs a successor to Vioxx
Setting the stage for a scientific and regulatory battle, Merck says a large study has shown that a potential successor to its painkiller Vioxx is no more dangerous to the heart than an older painkiller still widely in use.
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Merck Weighing Options After Legal Setbacks in Vioxx Cases
Reacting to a couple of legal setbacks related to its embattled arthritis medication, Vioxx, U.S. drug manufacturer Merck & Co. said it is weighing legal options i
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Doctor pleads guilty to health care fraud
BOSTON A Massachusetts doctor pleaded guilty to one count of health care fraud stemming from accusations that he faked research for a dozen years in published studies that suggested after-surgery benefits from painkillers including Vioxx and Celebrex. Dr. Scott Reuben, an anesthesiologist, also agreed to repay $361,932 of research grants... more...