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If past is prologue, Celebrex may top $10, as attorneys seek to capitalize on the opportunity to target one of the world's most profitable drug companies. Pfizer is expected to have more than $50 billion in sales and roughly $15 billion in profit this year.
The same thing happened when Vioxx, Merck's $2.5 billion arthritis and painkiller drug, was withdrawn in September. As soon as the news broke, law firms seeking Vioxx takers to represent in lawsuits against Merck (MRK: news, chart, profile) began bidding on the term Vioxx.
The term Vioxx, which started at $2 prior to the Merck announcement, soared to more than $40 within weeks. The term Vioxx is worth about $9 today.
Paid search isn't new, but the immediacy of the ads going up underscores the real-time and personalized nature of this marketing channel. And, increasingly, paid search has proved to be one of the best ways to target and find specific buyers, or in this case, possible victims.
CBS Market Watch [marketwatch.com]
Most law firms bidding on Vioxx in order to attrack clients who have been injured have been doing so for more than two years.
Vioxx also hit over $40.00 within hours, not weeks, and it has been bouncing around between $13-15$ ever since. The real money terms like vioxx recall and vioxx lawsuit are still running close to $30.00