Merck & Co. is expected to announce Friday that it will settle all claims relating to its withdrawn Vioxx pain killer for about $4.85 billion, according to a media report. The announcement is expected in New Orleans, The WSJ reported in its online edition, citing an unnamed person familiar with the situation. The company faces roughly 27,000 suits. Merck withdrew the drug in 2004 following revelations it was found to cause heart problems and other serious side effects. The once-popular drug had peak sales of $2.5 billion before the health troubles emerged. The Journal reported that the decision to settle was surprising given Merck's victories in four out of five of the important cases.
Source Marketwatch
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Drug settlements always end with the company never having to admit fault. I wish just once, big pharma would take responsibility for there mistakes instead of paying there way out of everything. Im sure that Merck’s $600 million annual defense fee’s for Vioxx probably had something to due with the settlement.
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