Merck to begin Vioxx payments
Pharma Compliance Alert, July 23, 2008
Merck expects to begin distributing $4.85 billion to settle lawsuits by people who claimed they were injured by taking Vioxx, the company announced in a release.
More than 97% of claimants agreed to the settlement. Payments will be made in installments to the resolution fund, with the first payment of $500 million scheduled for August 6. Additional payments will be made on a periodic basis going forward, when and as needed to fund payments of claims and administrative expenses, Merck said.
Merck pulled Vioxx from the market in 2004 after a study linked it to an increased risk of heart attacks and strokes.
The settlement won’t end the Vioxx saga. A federal grand jury is investigating whether Merck promoted the painkiller for off-label uses. In addition 31 state attorneys general and the District of Columbia are investigating the sales and marketing of Vioxx.
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