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Wednesday, November 14, 2007

Merck Agreement to Resolve U.S. VIOXX® Product Liability Lawsuits

WHITEHOUSE STATION, N.J., Nov. 9, 2007 - Merck & Co., Inc. announced that it has entered into an agreement with the law firms that comprise the executive committee of the Plaintiffs' Steering Committee of the federal multidistrict VIOXX litigation as well as representatives of plaintiffs' counsel in state coordinated proceedings to resolve state and federal myocardial infarction (MI) and ischemic stroke claims already filed against the Company in the United States.

If certain conditions under the agreement are met, the Company will pay a fixed amount of $4.85 billion into a settlement fund for qualifying claims that enter into the resolution process. This is not a class-action settlement. Claims will be evaluated on an individual basis.

While at this time the exact number of claimants covered by this agreement is unknown, the total dollar amount is fixed. Payments to individual qualifying claimants could begin as early as August 2008 and then will be paid over a period of time. Merck retains its right to terminate this process without any payment to any claimant, and to defend each claim individually at trial if any of the participation conditions in the agreement are not met.

For more information and to find this Press Release, please visit the Merck VIOXX® (rofecoxib) Information Center at http://www.merck.com/newsroom/vioxx/

posted by Michael J. O'Connor & Associates at 7:43 AM

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