But both analysts and lawyers warn that using the first trial as a harbinger of what is to come is a risky strategy for investors, because Texas is a particularly plaintiff-friendly venue and a long process of appeals could result in a sharp reduction in the award's size.

FORBES: Merck Loses First Vioxx Trial

But both analysts and lawyers still warn that using the first trial as a harbinger of what is to come is a risky strategy for investors, because Texas is a particularly plaintiff-friendly venue and a long process of appeals could result in a sharp reduction in the award's size.

FORBES: What's Next For Merck?