Drug giant Merck has thrown in the towel and has made a massive $4.85 billion settlement to end the largest civil lawsuit in history against its painkiller Vioxx.
Up to 50,000 patients or their families are expected to benefit, provided they can demonstrate that they took at least 30 Vioxx tablets.
The drug was pulled in 2004, and some industry commentators fear it may have caused fatal heart attacks in up to 60,000 people worldwide. The settlement applies only to the USA and American citizens, however.
Merck executive vice-president Kenneth Frazier called the agreement “responsible”. Others regard it as pragmatic. Without it, Merck could have faced settlement bills as high as $50bn.
(Source: Reuter’s. November 9, 2007).
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