Merck Settles Vioxx Suits for $4.58 Billion

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Three years after withdrawing its pain medication Vioxx from the market, Merck has agreed to pay $4.85 billion to settle 45,000 lawsuits by people who claim they or their family members suffered injury or died after taking the drug, according to a person with direct knowledge of the matter. While eye-popping, the settlement payment represents less than one year’s profits for the company, the third-largest American drug maker.

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A fantastic deal for trial lawyers, who get half t... by Jim Freeman on Friday, Nov 9, 2007 at 11:05:21 AM