Pharmaceutical giant Merck decided to pay lawsuit settlement agreement

The multibillion dollar pharmaceutical company Merck has decided to pay the first payment of its $4.85 billion settlement, with their plaintiff. It is a part of the lawsuit over the use of the drug called Vioxx.

It can be added that the Merck pulled the drug, Vioxx, from the market in 2004, after research on the arthritis medication showed a correlation between it and increased risk for stroke and heart attack. As a result of it, the company has to face a number of lawsuits. Nearly 50,000 individuals are stated to have registered claims for this settlement. Attorneys involved are now reviewing claimant information to ensure the completeness and accuracy of all necessary paperwork.

The $4.85 billion settlement, estimated to be 40 percent of each plaintiff’s total payout.Those seeking compensation include government medical care providers, private insurance companies in addition to the injured parties. Merck is still facing a series of lawsuits in relation to Vioxx.

Source: New York Injury News

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