an equal and opposite reaction
Case Details for "Merck & Co., Inc. "
Merck & Co., Inc. Settles Consumer Fraud Actions
According to the terms of the proposed settlement, Merck & Co., Inc. (NYSE:MRK) that will provide global resolution for consumer fraud claims brought by non-governmental, third-party purchasers of Vioxx(R) prescriptions, including union health and welfare plans, self-insured employers, and insurers providing prescription benefits. This pending settlement agreement, encompasses nearly two hundred cases that have been filed in the federal Multidistrict Litigation (MDL) in New Orleans before the Honorable Eldon E. Fallon, United States District Court, Eastern District of Louisiana and in the coordinated mass-tort litigation in Atlantic City before the Honorable Carol E. Higbee, New Jersey Superior Court of Atlantic County.
The third-party purchasers have alleged, in part, that Merck failed to disclose significant safety risks associated with Vioxx(R) when marketing the drug to third-party payors and their representatives, who were responsible for deciding which prescription drugs should be made available to patients, and ultimately picked up their cost. As a result, insurers and other third-party payors purchased Vioxx(R), which was withdrawn from market over safety concerns on September 30, 2004, while equally effective and safer alternatives were already available on the market at a fraction of the cost.
Under the proposed agreement, Merck will provide partial reimbursement to non-governmental purchasers, including union health and welfare plans, self-insured employers, and insurers, who from May 1999 to September 2004, expended billions for Vioxx(R) prescriptions on behalf of their employees and prescription plan members.
Posted on:2009-08-04
Company: Merck & Co., Inc.
Class: n/a
Scope: Nationwide
Type of Case: Consumer
Settlement Administrator:
Contact Us Regarding This Settlement:
