Merck to Pay $830M Settlement in Vioxx Lawsuit
Merck has agreed to pay $830 million to settle claims that it failed to inform investors of the heart risks related to its Vioxx pain medication, which is now discontinued.
The settlement — which arises from a class action lawsuit filed in U.S. District Court for the District of New Jersey — will apply to those who bought Merck securities from May 21, 1999, to Oct. 29, 2004.
The drug giant says the settlement does not constitute any admission of wrongdoing or liability. The company still faces individual securities lawsuits related to Vioxx.