Pharmaceutical giant Merck has agreed to pay up to $36.8 million to settle all lawsuits brought against the company in Canada over its former best-selling painkiller Vioxx. As we all know, Merck withdrew Vioxx from the market in 2004 after interim clinical trials linked the anti-inflammatory drug to a higher risk of heart attacks and stroke. Under the settlement with the Plaintiffs in Canada, Vioxx users there will share in a payout of between $11.3 million and $26.3 million depending on the final number of Claimants. A further $10.5 million will be set aside for legal costs.
The Canada settlement will have to be approved by the courts. In 2007, our firm was directly involved in the litigation that led to Merck paying $4.85 billion to settle more than 95% of the Vioxx lawsuits in the United States. And in November, Merck agreed to pay nearly $1 billion to the federal government to resolve criminal and civil charges for wrongfully marketing Vioxx as a drug in the U.S. to help rheumatoid arthritis.
Source: Yahoo News
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