Merck Vioxx Settlement, to pay $4.85 Billion

Filed Under Business, Health, U.S. News |

Merck Vioxx Settlement, to pay $4.85 Billion? Merck has agreed to pay an astounding amount of money to help settle lawsuits against the company. The lawsuit’s claim that the company’s painkiller drug Vioxx has caused strokes and heart attacks and 1000’s of people.

The Merck Vioxx settlement is a move in the right direction for the company. It has been weighing the drug making company down ever since it pulled the product Vioxx off the shelves more than three years ago. The company had previously said that it planned to fight each lawsuit on a case by case basis. I think they have realized that it will take entirely to much time to do something of that nature. The $4.85 billion write down will help the company to move forward and will help investors to put a financial number on legal battles the drug maker faces.

Merck Vioxx settlement has some interesting facts behind. The drug was proven to double the risk of heart attack and stroke in patients that took it for longer than 18 months. It has gone through a total of 16 court cases so far and it has won 11 of them and lost 5. So even though they are writing down the $4.85 billion down they make not actually have to pay that much money if the majority of the remaining cases go in their favor.

One thing is for sure regarding the Merck Vioxx settlement. It will allow the company to move forward and continue as a business. Annual sales of Vioxx, when they were on store shelves, was estimated to be around $2.5 billion. That is a lot of money to have to just pull out of by taking a product of the shelves. It is amazing the company is still standing and it looks as though it will be able to continue on. We will provide any breaking news updates regarding the case.