Tuesday, November 22, 2011

Merck Agrees to Pay $950 Million in Vioxx Case - NYTimes.com

Merck Agrees to Pay $950 Million in Vioxx Case - NYTimes.com: "The Department of Justice said on Tuesday that Merck will plead guilty and pay $950 million to resolve investigations into its marketing of the painkiller Vioxx.

The agency said Merck will pay $321.6 million in criminal fines and $628.4 million as a civil settlement agreement. It will plead guilty to a misdemeanor charge that it marketed Vioxx as a treatment for rheumatoid arthritis before getting Food and Drug Administration approval.

Merck stopped selling Vioxx in 2004 after evidence showed the drug doubled the risk of heart attack and stroke. In 2007, the company paid $4.85 billion to settle around 50,000 Vioxx-related lawsuits."

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