Merck to Pay $4.85 billion in Vioxx Settlement ~ OPOLAW Injury Blog

Tuesday, January 27, 2009

Merck to Pay $4.85 billion in Vioxx Settlement

Friday, Merck & Co. settled to pay $4.85 billion to end thousands of lawsuits over its painkiller Vioxx. "Without this settlement, the litigation might very well stretch on for years," Merck executive vice president Kenneth Frazier said during a conference call. Vioxx was pulled from the market in September of 2004 after its researchers determined the blockbuster arthritis treatment, then taking in about $2.5 billion a year, doubled risk of heart attacks and strokes. The deal was finalized in the early morning hours after attorneys for Merck and the plaintiffs met with three of the four judges overseeing nearly all Vioxx claims.

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