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Drug & Device News
Merck Agrees to Pay Plaintiffs' Attorney Fees to Settle Vioxx Suits
In order to finally settle two shareholder derivative suits concerning its pain medication Vioxx, Merck & Co. has agreed to pay $12.15 million toward the plaintiffs' legal fees. The suits, one in federal court and another in New Jersey state court, claimed the company and some of its officers and directors failed when promoting their product to disclose the fact that Vioxx could cause heart problems. Merck spokesman Ronald Rogers said the company considered the agreement to pay plaintiffs' attorney fees “the best and most appropriate way to put these suits behind us.“ Rogers added, “We believe the company has always acted appropriately and in the best interests of patients and we believe this settlement is consistent with that belief.“ Still ongoing is another shareholders' suit against Merck, which is pending before the U.S. Supreme Court.
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