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
New wave of lawsuits for Merck
As Merck & Co. defends itself against a deluge of litigation involving its pain reliever Vioxx, the pharmaceutical giant also is fielding the first of what could be another wave of lawsuits involving Fosamax, its second-biggest seller.
Merck's Vioxx bill: $285 million and counting
Merck burned through nearly $300 million in 2005 defending itself against Vioxx-related lawsuits and shoring up its legal defenses against future cases, said CEO Richard Clark.
Vioxx ban hits Merck net income (BBC News)
Merck, the US pharmaceutical giant forced to withdraw its Vioxx painkiller last year, has seen a drop in profits and had to add to its legal reserves.
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