Vioxx critic tied to
fund? Fortune:
Doctor who questioned arthritis drug was adviser to hedge fund that
shorted Merck. December 2, 2004:
10:32 AM EST
NEW YORK (Reuters) - A prominent cardiologist who became a chief
critic of Merck & Co.'s arthritis drug Vioxx several years before it
was withdrawn has been an adviser to a hedge fund that shorted Merck's
stock, according to a recent magazine article.
Fortune said Dr. Eric Topol, chairman of cardiology at the
Cleveland Clinic, began serving on the scientific advisory board of the
$176 million Biomedical Value hedge fund long before Merck withdrew Vioxx
in September. It said the fund is run by Great Point Partners of
Greenwich, Conn.
Great Point Partners said it could not immediately comment on the
report. (For full story click here.)
The article said the fund had performed strongly, in part by shorting
Merck, and in a September 2004 performance summary had praised Topol for
highlighting the dangers of Vioxx since 2002.
Topol said in a statement that the Fortune article had used
"innuendos and speculations" to challenge his credibility and that he had
no knowledge of any investment by the fund in Merck and never discussed
Vioxx with the fund.
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