This study assessed the loss of utility and indirect costs associated with first cardiovascular events. Data was collected (using EQ-5D) prospectively at 3, 6, and 12 months following an event in the Swedish part of the Anglo-Scandinavian cardiac outcomes trial (ASCOT), including patients with mild to moderate hypertension and additional risk factors. Sixty patients were eligible for analysis. An event was associated with a one-year utility loss of 0.075 (95% CI: 0.038-0.114). For a stroke, the reduction was 0.145 (CI: 0.059-0.249) and for acute coronary syndromes (myocardial infarction or unstable angina) the loss was 0.051 (-0.003 to 0.103). The utility at baseline was no different to the utility in a control group. The indirect cost over the first 12 months (2003 Swedish Kronor, SEK) was 90028 SEK (CI: 46027-146754), 9866 euro for patients in the workforce. These results are helpful in future economic evaluations of primary preventive measures in cardiovascular medicine.