Business briefs

WASHINGTON — A painkiller proposed as a successor to Vioxx should not be approved, a panel of federal health advisers overwhelmingly recommended Thursday.

The nonbinding 20-1 vote was on the prescription drug Arcoxia, made by Merck & Co., Inc.

A Food and Drug Administration drug safety expert had told the panel the drug may increase substantially the risk of stroke and heart attack and is no more effective for pain relief than other medicines in the same class.

"What you’re talking about is a potential public health disaster,” Dr. David Graham told the outside experts before the vote. Graham was a leading critic of Vioxx, a related drug also known as rofecoxib.

"We could have a replay of what we had with rofecoxib,” Graham said.

Merck is seeking the FDA’s approval to sell Arcoxia, also known as etoricoxib, to treat the signs and symptoms of osteoarthritis. Merck, based in Whitehouse Station, N.J., withdrew Vioxx in 2004 after the drug was linked to a higher risk of stroke and heart attack when compared with dummy pills.

The FDA is not required to follow the recommendations of its advisory committees, but the agency usually does. Merck expects the FDA will make a final decision by April 27.

"Merck’s disappointed. We continue to believe Arcoxia has the potential to become a valuable treatment option for many Americans suffering from osteoarthritis,” company spokeswoman Kyra Lindemann said.

Panel member Dr. Richard Cannon said the decision came down to whether patients needed another nonsteroidal anti-inflammatory drug, or NSAID. There are about 20 drugs in this class and they are common treatments for osteoarthritis, which affects an estimated 21 million people in the United States.

Consumer spending outlook turns hazy despite strong March retail sales

NEW YORK — Spring looks bleak for the nation’s retailers. After robust sales in March, there are signs that consumers are already spending less. And a trifecta of problems — rising gas prices, a rougher housing market and the specter of higher interest rates — are likely to make the retail business even tougher in the months ahead.

Although many stores reported Thursday that they had surpassed expectations last month, several warned of upcoming disappointments. Wal-Mart Stores Inc., whose customers cut back on shopping when gas prices were high last year, said April’s selling environment will be tough, while Federated Department Stores Inc. said its first-quarter sales will come in at the low end of expectations.

Mortgages rates rise for second straight week

Mortgage rates around the country rose for a second straight week with 30-year mortgages hitting the highest level since late February. In its weekly survey, mortgage giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages averaged 6.22 percent this week. That was up from 6.17 percent last week and put the 30-year rate at the highest point since it was also 6.22 percent the week of Feb. 22.

Analysts attributed the increase to the government’s release of better-than-expected job numbers for March, with the unemployment rate dipping to 4.4 percent, matching a five-year low. At the same time, 180,000 jobs were created, the strongest showing in three months.