Merck Reaches $4.8 Billion Settlement in Vioxx Case
In one of the largest settlements in U.S. history, the drug maker Merck has agreed to pay $4.85 billion into a fund to settle lawsuits filed by people who said they were harmed by its painkiller Vioxx.
The company reached an agreement with lawyers representing many of the 47,000 plaintiffs with claims early this morning, after extensive negotiations. The settlement could lead to payments for tens of thousands of Vioxx users who can prove they suffered a heart attack or stroke — and who have filed a claim by Nov. 8, 2007.
There are still hurdles before the agreement becomes binding. A key element is that nearly all of the plaintiffs would have to agree to drop their claims in state and federal courts.
NPR's Renee Montagne talks with Michael Krensavage, who follows pharmaceutical stocks at Raymond James.
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