The British blogger who runs PropeciaSideEffects.co.uk published a story today on the year over year rise in the number of propecia law suits and plaintiffs:
-Law suits: +220%
-Plaintiffs: + 190%
Interestingly, he also extrapolated out six years those percentage rises. In other words, if the rate of acceleration continues apace, by 2020 there will be:
-134,922 law suits
-68,216 plaintiffs
The full story here:
THETIGERSHULL website is great, but these number don’t reflect reality. At some point (likely very shortly), lawsuit numbers will experience diminishing returns. I’d be surprised if a tenth of that number even have PFS right now, or even 25% by 2020, let alone are eligible for a lawsuit. I know I said I was done with media efforts but I had to chime in on this.
The math should also be up 120%. Still strong growth but we at least need to be accurate.
I found Merck’s quarterly reports.
For the period ending March 31, 2013, there were 540 lawsuits.
For the period ending March 31, 2014, there were 1190 lawsuits.
So 1190 is a X% rise over 540.
Can anyone confirm that calculation?
Calculation is correct; it’s just wrong to assume the lawsuits will increase by that % (more than double) every year for the next 6 years.
I can see your point. But I appreciated the blogger’s point, which (I think) is how absurd this whole Propecia thing is:
-Thousands of men around the globe – all of whom took Propecia and most all of whom had few, if any, health issues – are complaining to their doctors about the same variety of symptoms that have never in recording history co-existed in the same patient.
-Most doctors misdiagnose that battery of symptoms, or even dismiss them outright as being all psychosomatic.
-The drug manufacturer says only that there’s no scientific proof such a syndrome exists.
-Meanwhile, the rate of complaints about the syndrome has multiplied exponentially over the past 5 years, and several (again previously healthy) patients take their own lives due to the syndrome.
The point being that, at SOME point, something got to give. Neither the medical system not the justice system will just sit by and do nothing in the face of a full-blown epidemic.
The question is: How many PFS victims will have to stand up and be counted before Merck is forced to act.
I agree; the Propecia mess is not something Merck can quietly sweep under the rug, like they’re trying to do. The media are keeping a close eye on the research, lawsuits. And Adam Held’s podcast gives a medium for PFS patients to tell the world about their health problems Propecia caused. With growing awareness of the condition, the number of lawsuits is likely more than what Merck had anticipated.
Lawsuits increase by 650 from 2013 to 2014 (1,190 - 540 = 650).
An increase of 650 represents a 120% (650/540) increase in that year.
Meanwhile, Kenneth C. Frazier on CNBC last week:
video.cnbc.com/gallery/?video=3000273388
Absurd that an attorney is heading up the world’s second-largest pharmaceutical company.
Plus, he sounds like he just completed a PR101 class–that awkward tossing in of the hepatitis message: If more people take this Merck product, it’ll prevent all sorts of trouble down the road.
No wonder Merck ranks 126 on the new list of America’s most reputable companies.
Excellent assessment of the Propecia litigation on Webwire:
Propecia Legal Troubles Weigh on Merck Stock
Legal troubles for Merck continue to mount with the announcement of more lawsuits being consolidated in the Multi-District Litigation underway in New York. This new litigation is in addition to more than 780 cases being handled in the Eastern District Court of New York, and an estimated 210 suits filed in New Jersey, where Merck is headquartered. These Propecia lawsuits, including two separate class actions, continue to plague Merck from their once-blockbuster hair loss drug. The litigation stems from allegations of Merck’s failure to warn doctors and patients of potential side effects, defective design of the drug’s active ingredient finasteride, and inadequate label warnings prior to a FDA mandated change to the drug’s marketing materials. All told, an estimated 1100 lawsuits with allegations ranging from permanent sexual side effects to severe emotional and cognitive impairment have been filed against the company in the last three years.
The concern over Propecia side effects, including a serious form of prostate cancer, first came to light in 1998 soon after the drug first came on the market for widespread use. Governmental concerns about the drug reached critical mass in 2012, when the FDA required Merck to add warnings to the packaging and literature for Propecia and Proscar detailing the risks of sexual side effects. Detractors have said that Merck purposely under-stated how many people were affected, even after their internal scientists warned them it was much higher than their marketing materials stated. Since the FDA mandate, a chorus has grown that the injuries from usage of the drug may be long-lasting and even permanent.
For Merck, the company’s legal liability stemming from Propecia continues to grow over time, just as revenues from the drug continue to slide. Merck lost its patent exclusivity last year, allowing generic manufacturers to enter the market cheaply. Once a revenue powerhouse, (Propecia sold over $429 million in 2008, compared to less than $100 million last year) Propecia now looks to be an albatross that is weighing down on the pharmaceutical giant. Merck faces the proposition of skyrocketing liability costs just when revenues from the drug are at an all-time low. Merck is no stranger to dangerous drug litigation costs from some of its most well-known drugs, most notably Vioxx.
Vioxx, the infamous arthritis drug that has cost the company more than $5.8 billion in damages and criminal charges since it was recalled, is a cautionary tale for Merck when it comes to long-term liability from some of their most heavily marketed drugs. The pharmaceutical company will no doubt seek to minimize the expenses of long-term Propecia litigation through negotiated settlements with plaintiff attorneys to avoid the risk of more jury verdicts putting further pressure on the company’s stock.
Medical Lawsuit Group helps connect patients injured by bad drugs connect with the plaintiff attorneys representing individuals and class actions in litigation against pharmaceutical companies. Medical Lawsuit Group charges no fee to review cases, and their associated attorneys do not collect a fee unless damages are recovered by their clients.
What about those of us that can’t sue because of doctor prescribed generic. That’s not counted.
Good point. So the reality is probably 100,000 men around the world are suffering from PFS.
Nightmare. And Merck deserves all the credit.
Can you not sue for generic?
Not really much of a concern when awards have been so insignificant. Until there’s more proof all awards will be pitiful and would limit your ability to take action in the future.
You may as well not concern yourself with it.
Why can’t we get money for significant proven damages when voixx had billions in damages
Because it’s not proven.